Invest Cyprus participated in the Annual Investment Meeting 2024 in Abu Dhabi to promote Cyprus as an investment destination and gateway to the EU. The delegation, led by CEO Marios Tannousis, focused on attracting investments, creating job opportunities, and strengthening the Cypriot economy. They also visited Kuwait to discuss investment opportunities and challenges with high-profile officials.
The United Arab Emirates tourist market for Cyprus is steadily rising, with a 14% increase in arrivals from the UAE last year. Meetings were held with airlines and travel agents to increase tourist flows from the UAE and Middle Eastern countries. Discussions also focused on strengthening demand from India and forming strategic partnerships with the UAE in the investment sector.
– The UAE has introduced a federal corporate tax to strengthen its economic future.
– The tax policy aligns with international standards and aims to solidify the UAE’s position as a global financial center.
– Corporate tax rates are set at 0% for annual incomes up to AED375,000 and 9% beyond that threshold.
– The UAE is committed to sustainable development goals and has reformed tax policies to support economic growth and inclusivity.
– The UAE has joined the BEPS programme and supports global tax fairness initiatives.
– Regulatory decisions have been made to guide the implementation of the corporate tax law in the UAE.
– The Ministry of Finance is conducting public awareness sessions to ensure understanding of the new tax law.
Azerbaijan’s President, Ilham Aliyev, stated that as the host of the upcoming U.N. COP29 climate summit, his country will defend the right of oil and gas producing nations to continue investing in the sector due to the ongoing strong demand for fossil fuels.
Chelsea manager Mauricio Pochettino was frustrated by his team’s inconsistency after a 5-0 loss to Arsenal, following a tight FA Cup semi-final loss to Manchester City.
Arsenal defeated Chelsea 5-0 in a Premier League match, with Leandro Trossard, Ben White, and Kai Havertz scoring two goals each. Arsenal is now three points clear at the top of the table with 77 points from 34 games.
Fact: Airlines quickly changed flight paths over Iran, diverted to alternate airports, or returned planes to their departure points in response to airspace and airport closures after an Israeli attack on Iran.
Israel has attacked Iran in retaliation for a drone strike on Israel. Iran’s air defense systems destroyed drones in Isfahan, causing explosions. Analysts fear the Israel-Gaza conflict spreading in the region. Iran warned of a severe response to attacks. Financial markets reacted negatively to the escalating tensions. Iran’s nuclear facilities were unharpmed, and flights in Iran were disrupted. Israel’s military offensive in Gaza has resulted in numerous Palestinian casualties. Iran-backed groups have supported Palestinians by launching attacks from various countries.
Dubai International Airport is experiencing significant disruption due to bad weather, leading to delayed or diverted flights and operational challenges for Emirates airline.
The Cyprus Shipping Chamber is calling for the immediate release of the 25 crew members on board the Portuguese-flagged containership MSC Aries, which was seized by Iran in retaliation for Israel’s bombing of the Iranian consulate in Damascus.