The US SEC approved spot Ethereum ETFs on May 23rd, which is seen as a positive development for the crypto community. Michael Saylor believes that this approval could be particularly bullish for Bitcoin in terms of mainstream adoption. Rebel Satoshi Arcade, a new GameFi memecoin, is predicted to have a 65x jump after its market debut.
Juicy Button Games, a new independent games studio based in Cyprus, has successfully completed a million seed round led by The Games Fund. The investment will fuel the development of an innovative mobile-first 4x strategy game from their headquarters in Limassol, Cyprus. The founding team of Juicy Button Games includes Alexander Kravchuk, Anton Sinelnikov, and Aleksandr Zaytsev, who have a track record of creating successful mobile games. The Games Fund is a specialist early-stage VC fund with offices in Cyprus and New York that invests in outstanding video game developers and GameTech companies.
Qatar has shown interest in taking on the running of the Larnaca port. President Nikos Christodoulides wants the issue to be handled immediately. Kition sent notice of dismissal to all its workers at the port on Tuesday night.
The Cyprus Securities and Exchange Commission (CySEC) has suspended the Cyprus Investment Firm (CIF) license of W.G. Wealth Guardian Ltd due to suspicions of violations of the Investment Services and Activities and Regulated Markets Law of 2017. The company is suspected of not consistently meeting the authorization conditions set out in the law, including initial capital requirements and safeguarding client financial instruments and funds. The company has one month to comply with the relevant provisions, and during the suspension period, it is prohibited from providing investment services, entering into business transactions, accepting new clients, and advertising itself as a provider of investment services.
– British retail sales bounced back in May after a slump in April that could have been caused by the timing of Easter and bad weather.
– The Confederation of British Industry’s monthly retail sales balance recovered to +8 this month after tumbling to -44 in April.
– More retailers felt sales were normal for the time of year than at any other time in the past eight months.
– The CBI’s measure of selling price inflation was its slowest since August 2020 and was below its long-run average.
– The British Retail Consortium said its measure of shop prices showed the weakest increase in two-and-a-half years this month.
– Falling inflation and continuing real wage growth will contribute to a healthier consumer outlook, supporting the retail sector further.
Labor MP Ed Husic has broken ranks to call on the government to look at lowering company taxes.
Labor’s Industry Minister, Ed Husic, believes that Australia needs lower company taxes to help businesses free up capital and drive investment in AI technologies. Australia’s capital stock has shrunk by 0 million over the past decade, and the average age of capital has risen from 11 to 13 years, contributing to the slowing down of industries replacing ageing assets and embracing new technology.
Workers at Kition Ocean Holdings, operator of the Larnaca marina and port concession, will be rehired by the state, securing 70 jobs just before the next mayoral and European elections.
The government reached a deal with Larnaca port and marina workers who were fired by Kition Ocean Holdings. Talks lasted for four hours and the agreement ensures that the 72 dismissed workers will transition their employment to the Larnaca and Famagusta District Development Agency.
Minister for Industry and Science Ed Husic spoke at The Australian Financial Review AI Summit about the need to urgently review tools and machinery supporting the industry base in Australia. The retirement of manufacturing assets in Australia is outpacing the investment required to replenish it, with the capital stock diminishing by 0 million over 10 years.