Economy

Sterling support ahead of jobless data

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Sterling support ahead of jobless data

GBPUSD is hovering around 1.2560 in Asian trading on Tuesday following the improved risk appetite. The UK economy expanded by 0.6% in Q1, surpassing expectations and signaling the end of the country’s brief recession. Fed officials emphasize the importance of maintaining higher rates due to elevated inflation. US consumers foresee a widespread acceleration in inflation over the next year. Investors are closely watching the Producer Price Index (PPI) on Tuesday.

Menopause Conference to highlight need for workplace support

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Menopause Conference to highlight need for workplace support

Fact: OneCare Group and AIPFE Cyprus-Women of Europe will hold a Menopause Conference on May 19 at the University of Cyprus Medical Campus in Nicosia to provide help and information to women on the issue of Menopause and workplace support.

Can investment tax reform boost economic growth? – Economics Observatory

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Can investment tax reform boost economic growth? - Economics Observatory

Taxation, especially on capital income such as corporate and capital gains taxes, can reduce investment, distort resource allocation, and hinder economic growth. High government debt and stagnant productivity in the UK make the relationship between tax policies and growth crucial. One way to increase growth could be through tax reforms that promote investment and innovation without significantly reducing government revenue. Expanding full expensing to all forms of investments and adjusting dividend and capital gains tax rates could be potential strategies to boost growth. The balance between higher revenues from corporate income taxes and increased investment from dividend and capital gains taxes is a significant challenge for policymakers.

Cyprus showcased as investment destination in Middle East

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Cyprus showcased as investment destination in Middle East

Invest Cyprus showcased Cyprus as a reliable investment destination with a stable business environment and favorable tax regime during its participation in the Annual Investment Meeting (AIM) in Abu Dhabi.

Trump’s $4 trillion of tax cuts loom over the election

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Trump’s $4 trillion of tax cuts loom over the election

The winner of November’s presidential election will face a challenge with the expiration of nearly trillion in tax cuts next year.

Will markets keep up gains this year?

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Will markets keep up gains this year?

The CEO of a financial advisory and fintech firm predicts that the US and European stock market rallies will continue despite the US central bank potentially not cutting rates until 2025. The expectation is based on strong earnings growth, especially in AI-focused companies, and positive economic forecasts from institutions like the IMF and Bloomberg. Additionally, signs of economic rebound in China and Europe are contributing to the optimistic outlook. The anticipation of interest rate cuts in response to a potential economic slowdown is also seen as a factor that could bolster equities. Savvy investors are advised to adopt strategic approaches to capitalize on the upward momentum while managing potential risks. April’s US consumer price index report is awaited, with traders hoping for no return to rate hikes by the Federal Reserve. Both narratives point to a likely continuation of stock market gains, with investors advised to top up their portfolios judiciously with guidance from financial advisors.

InvestCyprus at AIM Congress in Abu Dhabi

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InvestCyprus at AIM Congress in Abu Dhabi

Invest Cyprus participated in the Annual Investment Meeting 2024 in Abu Dhabi to promote Cyprus as an investment destination and gateway to the EU. The delegation, led by CEO Marios Tannousis, focused on attracting investments, creating job opportunities, and strengthening the Cypriot economy. They also visited Kuwait to discuss investment opportunities and challenges with high-profile officials.

MPs furious over last-minute changes to local government

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MPs furious over last-minute changes to local government

Lawmakers are frustrated with the government for making last-minute changes to legislation related to the reform of local government. They have agreed to only two amendments for now, with the rest to be discussed after the local government elections on June 9. The changes include allowing District Self-Governance Organisations to approve their own budgets and the appointment of individuals to head local government services temporarily. Permit applications for land development will be transferred to the new District Self-Governance Organisations. Legislators refused to fast-track a bill suspending permit applications, citing potential negative impact on the economy. The new system will merge various local government authorities at the district level to streamline processes.

‘Choose France’ investment push bags record $16 billion in pledges

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‘Choose France’ investment push bags record $16 billion in pledges

France won a record 15 billion euros in foreign investment pledges, with Microsoft announcing a 4 billion euro investment in cloud and AI infrastructure. Other companies like Amazon, Pfizer, AstraZeneca, and Novartis also pledged investments in France. Macron’s administration has faced criticism over public finances but has focused on attracting foreign investments to create jobs and boost the economy.

Former Kazakh minister gets 24 years in prison for murdering his wife

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Former Kazakh minister gets 24 years in prison for murdering his wife

A former economy minister of Kazakhstan, Kuandyk Bishimbayev, was sentenced to 24 years in prison for murdering his wife, Saltanat Nukenova. Bishimbayev was seen on shocking footage kicking and punching his wife, who was later found dead. Despite pleading not guilty, Bishimbayev’s trial has been widely watched as a test of President Kassym-Jomart Tokayev’s promise for a fairer society.