South Africa’s ruling party, the African National Congress (ANC), saw a decrease in its share of the vote to 40% in the recent election, down from 57.5% in the previous election. This weakened mandate means the ANC must share power with a rival party in order to stay in power, which is an unprecedented situation.
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.
Millennials are the most populous age group in Cyprus, with over a quarter of a million individuals. Generation Z, born between 1997 and 2012, are entering the workforce and facing challenges such as financial anxiety, minimal salaries, and limited opportunities. They are characterized as practical hedonists who prioritize meaningful experiences over economic security. Generation Z is competing with three other generations for limited jobs, wealth, housing, and opportunities, making the future uncertain for under-30s in Cyprus.
John Malkovich is a 70-year-old Hollywood star who describes himself as a plodder with a lot of interests.
The International Monetary Fund praised Cyprus for its strong economic performance, commending the country for its substantial primary surpluses, efforts to reduce public debt, quick recovery from the pandemic, and resilience in dealing with external shocks. The IMF recommended measures to further strengthen the economy, including phasing out electricity subsidies and VAT exemptions, and advised against further cost-of-living adjustments to wages. Other recommendations included reforms to the justice system, labor markets, and vigilance regarding systemic risks in the real estate market.
Russia has announced changes to its tax system, moving from a flat to a progressive system by 2025. The upper rate of income tax will rise from 15% to 22% and for corporate taxes from 20% to 25%. These changes are expected to reduce the budget deficit caused by increased military spending but may not be enough to prevent economic overheating. The tax hikes are modest compared to military and defense spending, which is 6% of GDP and rising. The overall fiscal stance remains expansionary, challenging the central bank’s efforts to combat inflation. Russia’s budget deficit is expected to halve this year and remain flat in 2025, while growth forecasts vary with some predicting modest growth and others more upbeat figures.
Russia has announced changes to its tax system, including a shift to a progressive income tax system in 2025, with the upper rate increasing from 15% to 22% and corporate taxes from 20% to 25%. These changes are expected to reduce the budget deficit caused by increased military spending.
The mayors of Nicosia and Strovolos inaugurated the first ‘Library of Things’ in the old town on Liasidou Street in Nicosia. The library, operated by KyklOIKOdromio, offers a variety of items for lending, including DIY tools, garden machinery, kitchen appliances, camping equipment, event equipment, and household items. The initiative promotes sharing, sustainability, and collaborative consumption to reduce consumption and build a sense of community.
The Limassol District Town Planning Department is dealing with a backlog of roughly 3,500 applications as the deadline for transferring planning authority to the Limassol District Self-Government Organisation approaches. The surge in applications is driven by public anxiety and the desire to secure approvals before the transition. Despite the increased workload, the department is prioritizing clearing existing applications and preparing for the transition on June 10. An additional 1,000 applications are pending with the Limassol Municipality, which is also experiencing a similar surge.
![Larnaca Port workers protest job uncertainty after Kition collapse [PHOTOS+VIDEO]](https://ch.jfdi.cc/wp-content/uploads/2024/05/larnaca-port-workers-protest-job-uncertainty-after-kition-collapse-photosvideo.jpg)
Disgruntled former employees of Kition Ocean Holdings protested outside Larnaca Port over job security concerns. The Larnaca Port Authority took over Kition’s central offices, changing signage to show operational control. The President of the House of Representatives is set to meet with affected workers to address their anxieties about their employment status.