government

Housing policy and strengthening of the HFC

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Housing policy and strengthening of the HFC

The Housing Finance Corporation has lost its social character due to understaffing, leading to delays in loan processing that frustrate potential borrowers. This issue was highlighted in a recent report, emphasizing the urgent need to address housing as a social issue. AKEL and SEK are calling for the government to strengthen the HFC and implement measures to help middle and lower-income households acquire housing. The state must provide immediate solutions to address the critical housing problem faced by citizens, especially the youth.

Europe’s third largest travel operator files for bankruptcy

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Europe’s third largest travel operator files for bankruptcy

FTI, a German tourism company, has filed for bankruptcy after failed negotiations with the government. The bankruptcy affects 11,000 employees and many travelers who have booked trips. The company had been struggling even before the pandemic and had received financial support from the government and other sources. Efforts are being made to ensure that current vacations can be completed and refunds will be handled by the Travel Insurance Fund.

Irrigation water reduced by 33% due to drought

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Irrigation water reduced by 33% due to drought

The Water Development Department has reduced irrigation water by 33% compared to last year due to drought and poor water conditions. The remaining water is allocated for irrigation, with the drinking water sector fully satisfied at 100%. Farmers were informed in advance about the reduced quantities and must plan accordingly. Dam capacity is at 42.1%, and if conditions remain the same, there may be a problem with water supply next summer. The Department is promoting efficient water use in agriculture with practical tips for irrigation during drought conditions.

Greek Cypriots receive , €30m from north’s IPC so far this year

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Greek Cypriots receive , €30m from north’s IPC so far this year

Greek Cypriots have received £25.4 million (€29.8m) in compensation from the Immovable Property Commission (IPC) in the north so far in 2024.

Government will cover costs of community , ‘clusters’ post-elections

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Government will cover costs of community , ‘clusters’ post-elections

The initial cost to operate the 30 community clusters resulting from local government reform will reach €3 million, which the government will cover.

Dozens of migrants stranded in buffer zone

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Dozens of migrants stranded in buffer zone

The Cyprus government has left migrants, including women, children, and unaccompanied minors, stranded in the UN buffer zone for close to a week. Initially, there were 13 migrants, but the number has now more than doubled to 27. The migrants are from Afghanistan, Iran, Sudan, and Cameroon, and have reported themselves as asylum seekers. The government’s denial of entry violates national, EU, and international law, according to UN sources. The migrants have been stuck in tents in the buffer zone, some requiring hospital treatment. The UNHCR is making representations to the government to abide by their obligations towards asylum seekers. The government has not commented on the matter, citing that the migrants are in the buffer zone.

Town planning department shut from June 14 for local government transition

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Town planning department shut from June 14 for local government transition

The district offices of the Department for Town Planning and Housing will close on June 14 and will no longer accept applications from the public. The closure is in preparation for the transition to a new system of local government starting on July 1, with five district-level organizations taking over the department’s role.

The fine print of Russia’s proposed tax hikes on personal income and corporate profits — Meduza

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The fine print of Russia’s proposed tax hikes on personal income and corporate profits — Meduza

Fact: Russia’s Finance Ministry has submitted legislation to reintroduce progressive taxes on personal income, with the progressive scale starting with annual incomes exceeding 2.4 million rubles (,100).

Treasury boss ‘quite comfortable’ with company tax rate – Michael West

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Treasury boss 'quite comfortable' with company tax rate - Michael West

– Treasury secretary Steven Kennedy defended Australia’s company tax rate as appropriate and supportive of a sustainable federal budget.
– Australia’s tax system is not considered uncompetitive compared to global standards.
– Large companies in Australia are subject to a federal tax rate of 30%, while small or medium businesses face a 25% rate.
– The limited supply of new dwellings is making houses unaffordable for households.
– The pandemic has contributed to sluggish construction in the housing market.
– Supply chain bottlenecks and inflated costs of materials and financing are compounding existing structural issues in the housing market.