The Federal Reserve will most certainly hold US interest rates steady at the current 23-year high and investors need to review their portfolios amid a divergence in global monetary policy, a leading financial advisor said Wednesday. “With the annual CPI increase at 3.3%, markets might be hopeful for potentially more rate cuts, but there remains … Read more
What are common nootropics and what effect will they have? By Nenad Naumovski, Amanda Bulman and Andrew McKuneHumans have long been searching for a “magic elixir” to make us smarter, and improve our focus and memory. This includes traditional Chinese medicine used thousands of years ago to improve cognitive function. Now we have nootropics, also … Read more
Every profession has its own distinct lexicon, or language, which mitigates any potential misunderstandings.Furthermore, it serves as a barrier to entry and maintains remuneration in line with the level of difficulty inherent in onboarding.Corporate tax exemplifies such a community. Today, we are going to delve into one of its niche domains: investment funds and their … Read more
But spending is more than keeping pace, up €5bn on the same period last year, according to new Exchequer figures published by the Department of Finance.Most reassuring to the Government will be the bounce-back in corporation tax, an increasingly important source of revenue for the Exchequer. Some €3.6bn was collected in May, up €0.8bn or … Read more
Approximately 30,000 tourists who were expected to visit Cyprus are impacted by the bankruptcy filing of travel provider FTI. This affects around 160 hotels and other businesses in Cyprus that collaborated with the Group. Bookings made through FTI are being cancelled, with efforts to cover part of the trips still underway. The impact on the tourism industry in Cyprus is significant due to various challenges the industry is facing, such as the war in Israel, economic recession in the UK, upcoming elections in the UK, the European Championship, and the Olympic Games.
The government balance in Cyprus for January-April 2024 had a surplus of €665.2 million, almost double compared to the same period in 2023. This surplus was due to an increase in revenues outpacing expenditures, giving the Government more flexibility in its social policy.
The termination of the contract for the development of the Larnaca port and marina was due to a loss of trust and breakdown in communication between the contractor Kition Ocean Holdings and the government. The government sought legal advice and decided to terminate the contract after the company refused to pay the guarantee amount. The Kition CEO blamed the government for the project’s failure, stating that changes were needed to make it viable. The government acknowledges mistakes were made and plans for the project were over-ambitious, making it unviable. If a new company takes on the project, plans need to be modified and scaled down.
The New York City Department of Finance is expected to deviate from the New York State corporate tax reform regulations in several key areas, including the application of unincorporated business tax sourcing rules for corporate partners, authorizing deviations from statutory apportionment methods based on individual facts and circumstances, allocating income from passive investment customers using an 8% fixed allocation, increasing the threshold for taxpayers to use a billing address “safe harbor,” and retaining excess inclusion in income for holders of residual interests in real estate mortgage investment conduits.
UN Secretary-General’s personal envoy, Maria Angela Holguin, left Cyprus after meeting with the leaders, including Turkish Cypriot leader Ersin Tatar, with no progress made. Tatar rejected Holguin’s proposal for a meeting with her and President Nikos Christodoulides, citing the Turkish Cypriot side’s position on sovereign equality and equal international status. Holguin will report to Secretary-General Antonio Guterres, who will decide the next steps in the peace talks. Christodoulides’ failure to persuade Tatar to agree to a meeting raises questions about the purpose of the failed initiative and the blame game surrounding the deadlock.
The inaugural Cyprus Forum London was held at the Cyprus High Commission’s premises in central London. Shipping Deputy Minister Marina Hadjimanoli opened the conference and highlighted the growth in new ship registrations in Cyprus, which have increased by 5.5% in the last six months, positioning the Cypriot registry among the top globally.