Warehouse flood ruins , €880,000 worth of medicines
– Government officials estimated the damage to medicines in the flooded warehouse at €880,000.
damages
Medicine , ‘worth millions’ destroyed in flood
Large quantities of medication, potentially worth millions of euros, were destroyed in a Health Ministry storage facility in Nicosia due to flooding caused by extreme rainfall and hailstorm. The incident occurred on Green Monday, March 18, prompting the removal of thousands more packages to prevent further damage. The health ministry is assessing the extent of the damages, with concerns over possible shortages for patients. Health Minister Michalis Damianou denied any attempt to conceal the incident and attributed it to unpredictable weather, describing it as an “act of God.” An ad hoc committee of pharmacologists has been established to address the damages and take inventory of the affected medicines. The incident is reminiscent of a previous flooding at the Finance Ministry’s basement that knocked out government servers and websites for several days.
Large quantities of medicines destroyed by flood
Fact: Large quantities of medicines were destroyed due to water leakage into medical storage facilities of the health ministry through a damaged roof.
Google to destroy browsing data to settle consumer privacy lawsuit
Google agreed to settle a lawsuit by destroying billions of data records related to secretly tracking the internet use of people who thought they were browsing privately.
Russia, ’s Baltika sues Carlsberg subsidiaries for over $900 mln in damages
Russia’s Baltika Breweries has sued four Carlsberg subsidiaries for damages amounting to 6.24 billion Danish crowns (2 million).
PRESSR: MBRIF backed startup Finanshels.com launches breakthrough AI WhatsApp service for hassle-free corporate tax registration in UAE
Finanshels.com has introduced an AI WhatsApp bot that revolutionizes corporate tax registration in the UAE. The bot simplifies the process to a 4-document upload completed in under 5 minutes, reducing the time and financial investment compared to the current method. This service aims to democratize tax registration for small and medium business owners in the region, making it more efficient, transparent, and cost-effective. The introduction of this AI bot represents a shift towards technology-driven solutions in the UAE’s commercial sector, contributing to a more efficient business environment and aligning with the UAE’s Vision 2030 goals.
Man detained over electric cable theft
Fact: A 33-year-old man was issued a four-day detention order in connection with the theft of electric cables belonging to the Cyprus Electricity Authority (EAC) in Kantou village worth approximately €2,800. Investigations revealed that over 1,400 meters worth of overhead copper cables were stolen and a total of six EAC electric poles were cut off, amounting to approximately €4,150 in damages.
‘Akamas debacle will cost Cyprus dearly’
MPs pressured Agriculture Minister Maria Panayiotou to reveal information about the investigation on the Akamas road works. Auditor General Odysseas Michaelides requested the report last year to investigate irregularities in the road works. The government has not handed over the investigation to Michaelides, who aims to determine irreversible damages to Akamas and hold responsible parties accountable. The contractor chosen by the government is expected to make claims for delays that he caused. The government’s priority is to protect Akamas’ natural wealth and ensure projects have minimal impact on the environment. MPs raised concerns about the lack of transparency regarding the cause of the damage and who will be held accountable.
Traffic accident suspect pleads guilty to manslaughter
A 45-year-old man admitted to deliberately running down a 58-year-old man in Paphos and killing him. The victim, Ioannis Polykarpou, was riding his moped when he was hit by the 45-year-old’s car. The incident occurred on January 21, 2023, after the two men had been involved in a heated argument in a Paphos nightspot. The 45-year-old was later arrested for the premeditated murder of Polykarpou.
Larnaca is becoming an emerging investment hub
Limassol is losing its position as Cyprus’ top investment hub to Larnaca, according to the ‘Cyprus Real Estate Market Report for the 2nd Semester 2023’ by Danos & Associates. Commercial properties in Cyprus are increasingly being used for professional purposes and workspaces, with potential disadvantages such as damages and malfunctioning spaces. However, the value of commercial properties tends to increase at a faster rate than residential properties. Demand for office spaces in Limassol has increased, with the average office value rising by 42% from 2015 to 2019. The real estate sector contributes significantly to the Cypriot economy, with a total of 5,974 transactions amounting to €1.52 billion in property sales in the second quarter of 2023. Nicosia and Famagusta provinces saw an increase in property value, while Limassol experienced a significant decrease. The abolition of the citizenship by investment program did not affect the real estate market in Cyprus, which continues to grow due to strong domestic demand and returning foreign investors.