Economy

‘, Time to choose’: Rishi Sunak calls UK national election for July 4

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‘, Time to choose’: Rishi Sunak calls UK national election for July 4

British Prime Minister Rishi Sunak called a national election for July 4, with his Conservative party expected to lose to the opposition Labour Party. Sunak emphasized his achievements in government and urged voters to choose between progress or uncertainty. Labour leader Keir Starmer focused on the need for change. Sunak, trailing in opinion polls, is taking a risk by calling an early election, facing challenges within his party and economic uncertainties. Both parties are already campaigning on economic and defense issues. If Labour wins, it would be the sixth prime minister in eight years. Some Labour officials are concerned about undecided voters and the need for a significant swing in votes to secure a majority. Sunak may be banking on a controversial asylum seeker scheme to boost his party’s chances.

Cyprus a , ‘strong member’ of European Public Prosecutor’s Office

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Cyprus a , ‘strong member’ of European Public Prosecutor’s Office

Cyprus is a robust member of the European Public Prosecutor’s Office (EPPO) with ten active investigations in Cyprus and assistance in 58 cases involving other participating member states.

Philip Morris Cyprus unveils path to cigarette-free island

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Philip Morris Cyprus unveils path to cigarette-free island

Philip Morris Cyprus aims to make Cyprus the first smoking-free country in Europe. Over 55,000 Cypriots have transitioned to better alternatives to cigarettes, with revenues from new tobacco products exceeding 70% of total sales. The company’s General Manager emphasized the benefits of this transition for public health, the environment, and the economy. President Nikos Christodoulides praised the company’s efforts towards a cigarette-free world, while CEO George Margonis highlighted the company’s investment and vision for a cigarette-free future. Philip Morris supports strict legislation and control of sales to young people and is raising awareness on related matters. Through science, technology, and support from various sectors, the vision of a cigarette-free Cyprus is becoming a reality.

Finance Ministry says it will phase out fax machines as part of “modernisation” efforts

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Finance Ministry says it will phase out fax machines as part of “modernisation” efforts

The Ministry of Finance is phasing out fax machines to modernize its communication methods. Telephone lines dedicated to fax communication will be discontinued starting mid-June.

Government to start offering professional training programmes in Turkish

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Government to start offering professional training programmes in Turkish

Representatives from social partner organizations met at the Productivity Centre to discuss attracting Turkish Cypriots to training programs under the European Year of Skills initiative. The government announced measures to improve job prospects for Turkish Cypriots, including access to training programs. KEPA clarified that initial programs would be held in Turkish at the House of Cooperation. The goal is to reach 1,000 participants in EU co-funded training, with eligibility for all Turkish Cypriot identity card holders. Programs will cover topics like environmental sustainability, digital skills, customer service excellence, and occupational health and safety. The government announced 14 measures to benefit Turkish Cypriots, including participation in training programs and EU acquis seminars. KEPA will provide further communication to stakeholders, with programs expected to start in late May or early June and run until the end of the year.

Astrobank bucks trend with new branch , — will seek approval for dividend

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Astrobank bucks trend with new branch , — will seek approval for dividend

Astrobank is opening a new branch in the Dali area in Nicosia, which is considered an underserved location with no existing banking facilities. The bank will seek regulatory approval from the Central Bank of Cyprus to distribute dividends and aims to reduce non-performing loans to single digits by July. Astrobank has a capital adequacy ratio of 23.7% and has already met the Minimum Requirements for Own Funds and Eligible Liabilities. The bank is optimistic about the future and is open to acquisitions and evaluating new opportunities in the banking sector.

Globe editorial: The Liberals are ripping up Canada’s trump card for productivity growth

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Globe editorial: The Liberals are ripping up Canada’s trump card for productivity growth

The Trudeau government introduced the Accelerated Investment Initiative in late 2018 to encourage corporate investment by allowing companies to expense the cost of new equipment and systems. However, the policy is set to expire by 2028, leading to an increase in effective tax rates on new investments. The Liberals are focusing on redistributionist efforts and targeted tax credits, rather than extending the sector-neutral accelerated capital-cost allowances program. This approach limits the impact on productivity-enhancing assets and may hinder overall economic growth.

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

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Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

Progressive and economic groups are urging Congress to use the expiration of .6 trillion in tax cuts next year as an opportunity to revamp the U.S. tax system.

New Report Identifies Challenges with Global Minimum Tax Implementation in the EU

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New Report Identifies Challenges with Global Minimum Tax Implementation in the EU

Fact: European Union Member States are in the process of implementing the global minimum tax in line with a directive unanimously agreed to at the end of 2022.