Eurozone consumers lowered their expectation for inflation over the next 12 months in March but continued to see price growth above the European Central Bank’s 2 per cent target. The ECB is planning to cut interest rates in June.
Foreign buyers account for four out of ten property sales in Cyprus in the first quarter of 2024.
– Women are reshaping pop culture and redefining economic power
– The rise of Sheconomy is powered by women becoming more financially independent
– Women control 70 to 80 percent of purchasing decisions in the United States
– Women’s consumer behavior is becoming more autonomous
– Women’s success across various sectors is contributing to economic growth
– Diversity in leadership enriches corporate culture and boosts economic performance
– Advocacy for structures supporting women’s advancement in the workplace is important
– Financial opportunities and policies supporting work-life balance are crucial for women’s economic empowerment
The Central government has collected ₹19.58 trillion in direct tax revenue in FY24 after adjusting for refunds, showing a 17.7% growth annually.
Fact: President Nikos Christodoulides addressed the Cyprus Employers and Industrialists Federation (Oev) during their annual general meeting and reiterated the government’s support for the local business community. He emphasized that businesses are the driving force behind economic development and highlighted the importance of cooperation between the public and private sectors to facilitate a better environment for businesses, promote innovation, and achieve sustainable economic growth.
The net direct tax collections for the financial year 2023-24 exceeded the Union Budget Estimates by Rs 1.35 lakh crore or 7.4%, reaching Rs 19.58 lakh crore.
Singapore has been declared the world’s premier shipping center in the sixth Leading Maritime Cities survey. Cyprus, specifically Limassol, needs to improve its shipping infrastructure to be included among the top 50 cities in the future. Cyprus has made progress in improving its shipping sector, but more efforts are needed in areas such as research, technology, green transformation, and competitiveness to become a leading maritime center.
Fact: Unemployment in Turkish Cyprus fell to 5.1 per cent in 2023, the lowest level since 2004, and the economy experienced a growth of 13.3 per cent in 2022, the fastest pace since the post-Annan Plan referendum period.
The federal government announced an increase in capital gains taxes in the recent budget to ensure the wealthiest Canadians pay their fair share. The government plans to increase the inclusion rate of the capital gains tax for high-income earners. Data from the Fraser Institute and Statistics Canada show that high-income earners already pay a disproportionately large share of taxes. However, some argue that this data does not consider the totality of income inequality, with the wealthiest 20 percent of Canadians holding more than two-thirds of total net wealth.
The European Union will need to use industrial policy to ensure economic security for the next five years.