Unemployment rate in Cyprus drops to 6 per cent
The unemployment rate in Cyprus decreased to 6 per cent in the first quarter of 2024, with a total workforce of 490,232 individuals.
improvement
Tony Watson blew the whistle on Lendlease’s questionable tax practices. Now he has to sell his family home
Lendlease is facing a big battle with major investors, with a showdown expected later this month.
How Did the Tax Cuts and Jobs Act Change Cost Recovery?
The Tax Cuts and Jobs Act introduced 100 percent bonus depreciation for short-lived assets from September 27, 2017, until January 1, 2023.
IWW Cyprus: Workers spend the majority of their daily lives in undemocratic workplaces
The Industrial Workers of the World (IWW) is a global labor union that has been organizing in Cyprus since 2020. The IWW stands out from traditional trade unions by being a union for all workers, including minorities, migrants, and sex workers. The IWW is not trying to be friendly with employers and government, unlike traditional unions. The IWW is a horizontal organization that values transparency and full participation rights for all members. The IWW encourages workers to join traditional trade unions as well. In Cyprus, the IWW organizes all workers under one big union, unlike traditional federations divided by profession or sector. The IWW aims to prioritize organizing over mere mobilizing and believes in forming strong relationships with fellow workers.
Slovakia’s PM Fico undergoes another operation
Slovakia’s Prime Minister Robert Fico underwent a two-hour operation that has increased hopes for his recovery following an assassination attempt. Deputy Prime Minister Robert Kalinak stated that a decision to transfer Fico back to Bratislava would only be made when there is further improvement in his condition. The suspect charged with attempted murder is a 71-year-old former security guard and author of poetry, but his identity has not been officially confirmed. The shooting has been condemned internationally and has highlighted a febrile and polarized political climate in Slovakia and Europe. Hungarian Prime Minister Viktor Orban, an ally of Fico, stated that even if Fico recovers fully, he may be unable to work for months during a critical time for Europe.
A hidden factor impacting gold, and it ain, ’t CPI
Gold prices are fluctuating as traders speculate on a potential rate cut by the Federal Reserve in September. Inflation data in the US is showing signs of improvement, impacting the Fed’s monetary policy decisions. Smart money is paying attention to the shift from a dollar-denominated trade system, with countries like China and Russia increasing their gold reserves to support their currencies. The price of gold is approaching all-time highs and is expected to continue its upward trend as long as it stays above the 50-day simple moving average.
Cypriot small businesses to benefit from , €10,000 innovation vouchers
The Research & Innovation Foundation (RIF) has launched an innovation vouchers program offering €10,000 per project to Cypriot small and medium-sized enterprises (SMEs) to boost their competitiveness. The program aims to provide access to specialized expertise for SMEs to improve existing products/services or develop new ones. The total budget for this call is €310,000, and proposals must be submitted by October 9, 2024. This program is funded by the NextGenerationEU Recovery and Resilience Facility.
Cypriot tech company takes a bold leap into mixed reality
– Ascation was founded by George Tziazas and Minas Kyriakou in 2015.
– They started with game development but transitioned to mixed reality in 2018.
– Ascanio aims to revolutionize mission-critical training across industries using mixed reality technology.
– They received support from Kinisis Ventures and Fameline Holding Group for investment and networking opportunities.
– Ascanio’s technology provides immersive training for high-risk scenarios in various industries.
– They focus on safety, real-time feedback, and comprehensive debriefing in their training solutions.
– Ascanio’s platform integrates biosensing and haptic feedback for a realistic training experience.
– They have developed a physiotherapy module in collaboration with the University of Nicosia for Parkinson’s patients.
– George and Minas actively support the tech community in Cyprus through mentorship and participation in internship programs.
– Ascanio plans to expand into industries like shipping, aviation, construction, and telemedicine to revolutionize training methods.
– George and Minas believe in the transformative power of mixed reality technology in reshaping industries.
Q1 growth rate seen at 3.5%
The Cyprus economy’s growth rate in real terms during the first quarter of 2024 is positive, with a gross domestic product estimated at 3.5% year-on-year according to Cystat.
Opinion | A muddled mess of a solution to SF’s tax crisis
The political class in San Francisco has reached a consensus on a proposal to reform the city’s tax code. The proposal includes small tax cuts for large corporations, no taxes for small businesses, and aims to reduce reliance on a few big corporations to fund the city. However, the proposal is seen as incremental and not radical enough by some, with concerns about the temporary nature of the cuts, the risk of concentration among top taxpayers, and the retention of anti-business measures like the Overpaid Executive Gross Receipts Tax. Additionally, the proposal will need to be voted on by citizens in November, adding complexity to the process.