Twin banking honours for BoC at 2024 Global Finance awards
Global Finance named Bank of Cyprus the Best Bank and Best Investment Bank in Cyprus in its 2024 awards.
Europe
Menopause Conference to highlight need for workplace support
Fact: OneCare Group and AIPFE Cyprus-Women of Europe will hold a Menopause Conference on May 19 at the University of Cyprus Medical Campus in Nicosia to provide help and information to women on the issue of Menopause and workplace support.
Can investment tax reform boost economic growth? – Economics Observatory
Taxation, especially on capital income such as corporate and capital gains taxes, can reduce investment, distort resource allocation, and hinder economic growth. High government debt and stagnant productivity in the UK make the relationship between tax policies and growth crucial. One way to increase growth could be through tax reforms that promote investment and innovation without significantly reducing government revenue. Expanding full expensing to all forms of investments and adjusting dividend and capital gains tax rates could be potential strategies to boost growth. The balance between higher revenues from corporate income taxes and increased investment from dividend and capital gains taxes is a significant challenge for policymakers.
Cyprus showcased as investment destination in Middle East
Invest Cyprus showcased Cyprus as a reliable investment destination with a stable business environment and favorable tax regime during its participation in the Annual Investment Meeting (AIM) in Abu Dhabi.
Inside Cyprus, ’ gaming boom — interview with Ilya Karpinskiy
Ilya Karpinskiy is a seasoned veteran in the gaming industry, involved in various companies and ventures. Cyprus has become a popular location for video game developers from Eastern Europe due to its favorable environment and government support. Cyprus is also seen as a significant location for venture investments, offering a unique legal framework. Owlcat Games, founded by Ilya, focuses on developing premium PC console RPG titles. The Games Fund, co-founded by Ilya, supports portfolio companies by prioritizing founders’ vision and expertise. Free-to-play games and premium titles present different challenges and opportunities in the gaming industry. The Games Fund aims to become the number one gaming VC, fostering innovation and talent in the gaming industry globally.
Will markets keep up gains this year?
The CEO of a financial advisory and fintech firm predicts that the US and European stock market rallies will continue despite the US central bank potentially not cutting rates until 2025. The expectation is based on strong earnings growth, especially in AI-focused companies, and positive economic forecasts from institutions like the IMF and Bloomberg. Additionally, signs of economic rebound in China and Europe are contributing to the optimistic outlook. The anticipation of interest rate cuts in response to a potential economic slowdown is also seen as a factor that could bolster equities. Savvy investors are advised to adopt strategic approaches to capitalize on the upward momentum while managing potential risks. April’s US consumer price index report is awaited, with traders hoping for no return to rate hikes by the Federal Reserve. Both narratives point to a likely continuation of stock market gains, with investors advised to top up their portfolios judiciously with guidance from financial advisors.
La Petite Maison to mark second anniversary in style at Parklane
La Petite Maison (LPM) is celebrating its second-year anniversary at Parklane, a Luxury Collection Resort & Spa on May 25-26, 2024.
North Macedonian president’s inauguration revives name dispute with Greece
Greece threatened to hinder North Macedonia’s EU bid after newly elected president Gordana Siljanovska-Davkova referred to her country as just “Macedonia,” violating a U.N.-brokered agreement. Greece has long argued that the use of the term implies territorial claims on a Greek province also called Macedonia. EU and Greek officials warned that progress towards EU accession hinges on North Macedonia’s respect for agreements, including the Prespa accord renaming the country “North Macedonia.” The nationalist VMRO-DPMNE party, which backed Siljanovska-Davkova’s election, refuses to acknowledge the Prespa deal, causing frustration in both countries.
The far-right has already been normalised
The rise of the far-right is becoming normalized in Cyprus and beyond, with political parties adopting its rhetoric in an attempt to tame it. This normalization is not exclusive to Cyprus or Greece, as far-right parties are gaining power in countries like Italy, Hungary, France, the Netherlands, Germany, Portugal, Spain, Romania, Slovakia, Czechia, Belgium, the USA, and Argentina. The far-right’s communication skills and appeal in a conspiracy-obsessed society are contributing to its success, raising concerns about a return to pseudo-eugenic and misanthropic theories reminiscent of the Middle Ages.
Western Canada blazes cause evacuations, air quality concerns
First major wildfires of the season have spread to roughly 10,000 hectares across Western Canada. Evacuation orders issued for communities in British Columbia due to poor air quality. Residents in Northern Rockies Regional Municipality and Fort Nelson First Nations evacuated as blaze nearly doubled in size. Fire in Fort McMurray, an oil hub, was tamed by favorable weather. Alberta recorded 43 active fires, including one near Fort McMurray. Fire started by fallen tree on power line. Evacuation alerts in place for several communities as precaution. Smoke in Fort McMurray from fires in British Columbia. Environment Canada issued special air quality statement for several provinces. Canada warned of “catastrophic” wildfire season ahead due to warm winter and ongoing drought.