Health minister calls for report on warehouse flood
Fact: A total of 105,401 packages, concerning 149 different pharmaceuticals, were spoiled during the hailstorm at the pharmaceutical services warehouse in Cyprus.
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Opinion: Thoughts on the upcoming tax reform
Tax reform should aim for sustainable finances and economic equity. Personal income tax should include taxing family income, with a tax-free bracket of €25,000 per individual or €50,000 per family. A flat 20% tax on all personal income above the tax-free bracket is proposed. Corporate tax should be leveled at 20% to be competitive and fair. A fair tax on immovable property is suggested to combat tax evasion and incentivize property owners to rent out vacant properties. VAT rates can be adjusted, and a flat road tax per car is recommended to cover road infrastructure costs. Carbon emission taxes should be imposed on fuels to fund carbon reduction and renewable energy initiatives.
Intel slides as foundry business loss spotlights wide gap with rival TSMC
Intel shares fell 5% as the company’s contract chip-making business reported operating losses of billion in 2023. Intel is investing billions to regain its position as a leading chipmaker, but it may take years to catch up with Taiwan Semiconductor Manufacturing Co. Intel plans to break even in its contract chip-making business by 2027 and expects a gross margin of 40% by 2030, still trailing TSMC’s 53% margin.
City Friends Club: leading the charge for environmental sustainability
City Friends Club (CFC) is a non-profit organization based in Limassol, Cyprus, focused on environmental sustainability and waste management. They have mobilized volunteers to clean up the city, collected tons of waste, and engaged in educational initiatives to promote responsible consumption and a zero-waste lifestyle.
Plans afoot to abolish multiple pensions
Fact: Plans are being made to abolish the practice of paying multiple pensions to government officials in Cyprus.
Cyprus construction sector sees rise in both production and prices
Cyprus experienced an increase in both production and producer prices in the construction sector during the year 2023. The Production Index in Construction for the fourth quarter of 2023 rose to 227.99 units, marking a 9.2 per cent increase compared to the fourth quarter of 2022. The Producer Price Index in Construction for the fourth quarter of 2023 reached 138.29 units, showing a marginal increase of 0.8 per cent compared to the third quarter of 2023.
Yellow weather warning issued for Saturday
A yellow weather warning has been issued for Saturday in Cyprus due to thunderstorms.
Lush art in difficult times
A new group exhibition called Lush Art in Difficult Times is opening in Nicosia at isnotgallery. The exhibition will feature artworks by emerging and established artists at affordable prices, with pieces not exceeding €500. The goal is to support artists and connect them with art lovers by offering creations at reasonable prices, including painting works, ceramics, works on paper, sculptures, multiple works, and photographs. The exhibition will run from April 12 to April 27, with an opening night on Friday at 7pm.
Turkish Cypriot pupils declining in north, ’s schools
Turkish Cypriot pupils in the north have dropped by more than 50 per cent, while the number of Turkish students has risen by a third. The number of foreign pupils has also increased by 10 per cent. There is a need for new schools in certain areas, an increase in linguists in schools, and a focus on providing social and cultural skills to foreign students. Families have not been participating in school activities and vaccination programs due to their beliefs and cultures. The head of the CTP stated that their first priority when taking over will be to implement a population policy.
Kyriakides emphasises , ‘My Health, My Right’ principle on World Health Day
EU Commissioner for Health and Food Safety, Stella Kyriakides, stated that the European Health Union has been shaped by the core principle of “my health, my right,” which is also the theme of this year’s World Health Day.