After soft U.S. CPI, is Fed rate cut wishful thinking?
Fact: Federal Reserve chair Jay Powell indicated that officials are in no rush to cut borrowing costs.
Europe
What being a teenage girl in 1960s Britain was really like
The 1960s teenage girl is a pop culture icon, but the real experiences of women during that era were more complex. A study conducted on girls growing up in Britain between the 1950s and 1970s revealed diverse experiences, with some enjoying opportunities in London while others faced poverty and limited leisure options. Access to education and professional opportunities for girls was uneven, with many leaving school at 15 without qualifications. The fear of getting pregnant out of wedlock was prevalent, as access to contraception and sex education was limited. Early marriage was common, but easier access to divorce from 1969 provided a way out for some women.
Former Cypriot passport-holder Deripaska calls latest US sanctions ‘balderdash’
Oleg Deripaska dismissed the latest U.S. sanctions on companies connected to a scheme as nonsense. The U.S. Treasury sanctioned Russian companies disguising ownership of a .6 billion industrial stake controlled by Deripaska, leading to Austria’s Raiffeisen Bank International dropping a planned purchase. Deripaska, previously sanctioned by Britain and the U.S., has challenged the sanctions, calling them groundless and absurd. He was also stripped of his Cypriot citizenship after Russia’s invasion of Ukraine and added to the E.U.’s sanctions list in April 2022.
Greece rescues 42 migrants off Crete, searches for three missing
Greece rescued 42 migrants off the island of Crete and was searching for three missing after their boat sent a distress signal. The migrants were rescued by commercial vessels and a Greek navy helicopter, and a search operation was underway. Crete and Gavdos have seen an increase in migrant arrivals from Libya. Greece has provided support to the islands to handle the situation. Greece has been a popular entry point to the EU for migrants and refugees since 2015, with many arriving on its islands and thousands dying at sea.
EU excess profit tax could generate over €100 billion per year, study finds
Fact: A permanent tax on European companies’ excess profits could generate more than €100 billion per year, or over half of the EU’s annual budget.
Much to be done to crackdown on construction waste, minister says
Construction and demolition debris makes up 25-30% of all waste produced in Europe. Measures have been taken in Cyprus to manage this waste, including creating treatment facilities, improving environmental controls, and increasing recycling rates. Despite efforts, illegal dumping continues to be a problem.
Nicosia in top five European cities for coffee lovers
Nicosia is ranked as the fifth-best city in Europe for coffee lovers, with the most hours of sunshine and the least amount of rainfall over the summer months.
Paphos Chamber of Commerce urges action on airport road
The Paphos Chamber of Commerce urged the government to speed up developments for the construction of a road linking Paphos airport to tourist areas, including the town centre.
Shipping minister attends Cyprus Forum London
The inaugural Cyprus Forum London was held at the Cyprus High Commission’s premises in central London. Shipping Deputy Minister Marina Hadjimanoli opened the conference and highlighted the growth in new ship registrations in Cyprus, which have increased by 5.5% in the last six months, positioning the Cypriot registry among the top globally.
Council of Europe rapporteur visits Varosha
– Piero Fassino visited Varosha on Wednesday
– Fassino hopes Varosha will become a “living town” again with the agreement of the two parties concerned
– Fassino’s findings from the visit will be compiled into a report for the PACE’s next assembly in June
– All Council of Europe member states are expected to take the vote on the report into consideration
– Turkish Cypriot observers thanked Fassino for listening to both sides before preparing his report