Proposed changes to the capital gains inclusion rate in Canada are likely to make individual pension plans (IPPs) more attractive to certain business owners as retirement saving vehicles.
The GBPUSD pair weakened to 1.2695 in early Asian trading on Thursday due to a stronger US Dollar supported by higher US yields and lower bets of a Federal Reserve rate cut in September.
Kition Ocean Holdings expressed concern for the welfare of its employees following the government takeover of the port and marina. The company blamed the government for not having a handover period, causing uncertainty for staff. Kition stated that according to the TUPE law, employees should be automatically transferred with their existing rights to the new employer. The company seeks reassurance from the government that employees’ rights will be protected during the transition.
Thanasis Tsokos, the director general of state broadcaster CyBC, has been missing for almost a month. The interior ministry has been searching for him since mid-May to deliver a letter about disciplinary action. Tsokos is facing ten allegations related to the operations of CyBC, including mismanagement of tenders and changes in companies that affect the budget. An investigator will examine if there is corruption or waste of public funds and abuse of power. Many decisions at CyBC have been put on hold due to Tsokos’ absence.
A year has passed since the introduction of the UAE’s 9 per cent federal corporation tax.
– Scooters must be banned if no active measures are taken to ensure their safe circulation.
– The legislation states that the driver must be 14 years and up to ride a scooter.
– The driver must wear a protective helmet and a fluorescent vest after dark.
– Scooters are permitted to travel on bicycle lanes, roads with a maximum limit of 30km, or where allowed by authorities.
– Municipalities must take the law seriously to deter illegal use or consider a complete ban.
Novak Djokovic’s form has been erratic in the first five months of 2024, with tame defeats affecting his rhythm ahead of the French Open.
Fact: The primary focus of the exercise was to assess the effectiveness of the national firefighting strategy ‘Hephaestus’ for large forest fire suppression.
An infected blood scandal in Britain led to 3,000 deaths and thousands more contracting hepatitis or HIV due to doctors and governments fault. Over 30,000 people received infected blood in the 1970s and 1980s, destroying lives, with some blood products being made from high-risk donations. The government hid the truth to save face. Prime Minister Rishi Sunak is expected to apologize on behalf of the state. The scandal rocked trust in the medical establishment. The infected blood products were used for transfusions and treatments, with some haemophiliacs receiving Factor 8 concentrates with a high risk of infection. Between 80 and 100 people became infected with HIV by transfusion, and about 26,800 were infected with Hepatitis C. The British inquiry found systemic failures and lack of meaningful apology or redress. The inquiry does not have the power to recommend prosecutions. Former health minister Edmond Herve in France was convicted for his role in the scandal.
The Cyprus-China relations are being tested due to a dispute over a gas regasification terminal project in Vasilikos. The Chinese state-owned company CPP is reluctant to complete the project, demanding additional financial compensation of EUR 200 million. The Cypriot side argues that CPP’s objections to the contract terms are either in bad faith or due to financial inability. The collapse of cooperation with CPP would result in significant financial costs for Cyprus and delay the introduction of natural gas for cheaper electricity generation. The situation is further complicated by the fact that a floating gas regasification unit remains in Shanghai due to berthing modifications required by Lloyd’s Register. If the terminal project is frozen, Cyprus may face significant financial consequences, with responsibility shared between the Cypriot government and the Chinese state-owned company CPP.