Kition Ocean Holdings’ investment project for Larnaca’s port and marina has been officially terminated by the Cypriot government due to Kition’s refusal to renew the guarantee for the port, which was considered a breach of contract.
The lack of political will for a substantial revision of the sustainable development plan for the Akamas is putting the region in danger, according to the Federation of Environmental Organisations (Opok). They are not satisfied with the government’s intentions and are calling for a correction of mistakes made to avoid unfavorable results for the environment, communities, visitors, and nature lovers. Opok also calls for a ban on hunting in the park and the encouragement of sustainable development in surrounding communities.
Child cancer charities are deeply concerned about changes planned for the Makarios children’s hospital in Nicosia, specifically regarding extensions and upgrades that may affect the health and safety of children in the paediatric oncology clinic. They are worried about high levels of dust, toxic gases, and microparticles created by construction, as well as the risk of aspergillosis. The charities are calling for active and passive protection measures to be implemented before construction begins.
– After 19 years, a court has ruled that Thanasis Nicolaou was murdered, not that he committed suicide.
– More than 100 public interest groups wrote to congressional leaders urging them to pass bold new tax reforms following the expiration of the Trump-era tax cuts in 2025.
– The Tax Cuts and Jobs Act (TCJA) has been proven to be a failure, with the average worker not seeing the financial benefits promised.
– The groups outlined three goals for tax reform in 2025: making the tax code fairer, raising more revenue for investments in Americans, and supporting economic growth.
– Extending the individual and real estate tax cuts from the TCJA past 2025 would add .6 trillion to the national deficit.
– The coalition believes that Congress should reject the failed approach of the Bush and Trump tax cuts and create a fairer tax code that supports necessary investments and inclusive growth.
– There is strong public support for making the tax system fairer and using the revenues raised to invest in care for families.
The European Commission issued reasoned opinions to Cyprus and other member states for failing to implement a minimum 15 per cent tax rate on large multinational corporations.
Oaktree Capital Management has taken ownership of Italian soccer champions Inter Milan after a missed payment from the club’s Chinese majority shareholder. The loan granted by Oaktree in 2021 gave them the potential right to take control of the club in case of a default. Oaktree is committed to working with Inter Milan’s current management team and partners. Suning, the Chinese shareholder, had to get an emergency financing package from Oaktree due to financial difficulties. Inter Chairman Steven Zhang warned fans about the club’s stability being at risk. Oaktree’s move is similar to Elliott Management’s takeover of AC Milan in 2018 after a missed payment by the Chinese businessman.
Lendlease is facing a big battle with major investors, with a showdown expected later this month.
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.
The Attorney General and Deputy Attorney General requested to be exempt from a new law requiring asset declarations to be made public. Despite concerns about corruption and the importance of transparency, the proposal barely passed in the Institutions Committee by a vote of 6-4. One MP showed courage by diverging from the party line, preventing a tie in the vote. The demand for exemption was made based on the argument that they are not politically exposed persons and should not be subject to public scrutiny. However, the column questions this reasoning, citing past corruption cases involving high-ranking officials. Members of the Institutions Committee voted in favor of including prosecutors in the list of officials required to submit asset declarations, with some MPs going against their party line. There is a risk that the position may change in the plenary, depending on how certain MPs vote.