The Government would be running a budget deficit for the 18th consecutive year in 2024 were it not for windfall corporate tax receipts.That sequence stretches all the way back to the financial crisis, a time when the crumbling Irish financial system was the focus of European policymakers, not just Irish ones.Remove the windfall component of … Read more
PwC has warned that any further increase in taxes would cause a decline in reinvestment by firms operating in Nigeria and exacerbate corporate exits from the country. This warning is contained in its June 2024 report titled: “Nigeria Economic Outlook: Navigating Economic Reforms,” which projected that inflation would decline to 29.5 per cent by the … Read more
Parliament has passed a bill reducing the fine for red-light violations in Cyprus, if a car has marginally exceeded the pedestrian crossing, while maintaining a hefty fine for passing the crossing at traffic lights. The House plenary session passed the bill, proposed by DIPA MP Marinos Moushoutas, which now regulates the fine according to how … Read more
Loading…Loading…The International Monetary Fund (IMF) has raised a red flag on the potential of artificial intelligence (AI) to exacerbate inequality, urging governments to take measures to protect their economies.What Happened: The IMF expressed “profound concerns” about the possibility of significant labor disruptions and increased inequality as societies transition to generative AI, according to a report … Read more
Primary pupils were sent home early on Friday, as soaring temperatures reached a high of 45 degrees Celsius, and most public schools are not well equipped to handle the scorching heat. The Ministry of Education ordered all state schools to close early after a red alert was jointly issued by the Health Ministry, the Labour … Read more
Wednesday will be clear and hot with a yellow weather warning in place for temperatures at 41C in the interior 34C on the south and east coasts, 33C on the north coast, and 31C on the west coast and in the higher mountains. Winds will initially be variable and light, 3 Beaufort, gradually turning south- … Read more
Michael Welu worked at the IRS for decades as a specialist in helping agents identify and investigate possible tax crimes. In an agency known for offices working in their own silos, Welu had the rare ability to move between divisions, dissecting and learning each office’s particular customs and procedures. But that experience had its own … Read more
THE BIGGEST news story over last few days has been that it was very hot. As if anyone in Kyproulla had not felt the scorching heat and had to be informed about it by continuous reports and updates from the media.OK, it was the highest ever temperature recorded in early June, but what more is … Read more
The met office on Saturday evening issued a yellow weather warning for storms on Sunday.The warning will be in place between 11am and 6pm, with the met office forecasting “isolated strong storms”, mostly inland and in the mountains. Hailstones will be possible, while strong winds are also expected. Between 35 and 55 millimetres of rain … Read more
The Department of Meteorology has issued a yellow warning for thunderstorms, which will be in effect from 11 am to 6 pm tomorrow, Sunday. It said that isolated heavy thunderstorms are expected to affect mainly the mountains and inland areas of the island. During storms, hail is also likely. The precipitation rate will range between … Read more