MicroStrategy leads crypto sector short losses with $2 bln hit since March
Short sellers betting against MicroStrategy have lost .92 billion since March due to a rally that has helped the stock outperform bitcoin.
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I-STARS offers cash for sustainable tourism
The I-STARS project has selected 125 tourism businesses from Cyprus, Greece, Ireland, Italy, and Spain to receive grants of up to €5,600 each. The funds will be used to improve aspects of sustainable tourism such as food waste management, waste reduction, and energy efficiency. The project is co-financed by the European Union and coordinated by the Cyprus Chamber of Commerce and Industry (Keve).
Cash support for young entrepreneurs
The Ministry of Energy, Commerce and Industry has announced the second phase of the New Business Activity Support Plan, amounting to €20 million. The scheme offers funding for projects by young men and women aged 18-29 years at a rate of 70%, and for men aged 30-50 and women aged 30-55 at a rate of 60%. Funding covers eligible costs up to a maximum of €120,000 per company.
Flooding in Orenburg
A dog was seen sitting in an inflatable boat being towed by Russian Emergencies Ministry rescuers in a flooded street in Orenburg, Russia on April 10, 2024.
Middle East on alert for Iranian attack as Lufthansa suspends Tehran flights
Lufthansa extended the suspension of its flights to Tehran due to the situation in the Middle East, which is on alert for Iranian retaliation for a suspected Israeli air strike on Iran’s embassy in Syria. The region and the United States have been on alert for a retaliatory attack by Iran since April 1, when Israeli warplanes were suspected of bombing the Iranian embassy compound in Syria.
Akebono, first foreign-born sumo grand champion, dies aged 54
Akebono, the first non-Japanese grand champion or “yokozuna” in sumo wrestling, died of heart failure at the age of 54.
North opposition figure refused entry to Turkey
Evrim Hincal, the financial secretary of Turkish Cypriot opposition party the TDP, was refused entry to Turkey on Wednesday. He was sent back to Cyprus alongside his wife and his four-year-old daughter after being told he was on Turkey’s N-82 list.
Russia and Kazakhstan battle record floods as rivers rise further
Fact: The Russian city of Orenburg battled rising water levels after major rivers across Russia and Kazakhstan burst their banks in the worst flooding seen in the areas in nearly a century.
EU migration revamp , ‘a step in the right direction’
Interior Minister Constantinos Ioannou stated that the redesign of the European Union’s migration system is a step in the right direction. The legislation includes provisions for solidarity between member states, screening of third country nationals upon entry to the EU, and faster processing of asylum claims. The pact also emphasizes the practical application of solidarity as a fundamental principle of the EU.
World faces persistent low growth in absence of productivity reforms, IMF says
Global economic growth is projected to reach just 2.8% by 2030, a full percentage point below the historical average, unless major reforms are made to boost productivity and leverage technologies like artificial intelligence, according to the IMF.