Shipping industry to gather in Athens
The Poseidonia 2024 World Expo will take place in Athens, Greece from June 3 to 7. Many Cypriot shipping companies and professionals will attend the event.
Companies
Global Tax Management Bolsters its Utility Tax Practice with New Director Nicole McKinney
Nicole “Nikki” McKinney has joined Global Tax Management as a Director in the firm’s Lead Tax Practice, specializing in tax accounting for regulated utility companies.
Chrystia Freeland defends carbon tax, dismisses leadership speculation
The text discusses Finance Minister Chrystia Freeland defending the government’s budget and carbon tax at a parliamentary committee. Freeland dismissed political speculation and emphasized the importance of a credible climate policy.
Who are Israel’s main weapons suppliers and who has halted exports?
The United States suspended a shipment of heavy, bunker-busting bombs to Israel amid concerns about their impact in dense urban settings like Rafah. Germany increased defense export approvals for Israel after an attack by Hamas, but has since approved fewer exports due to international criticism. Italy halted new export approvals to Israel since the start of the Gaza war, with the last orders delivered in November. Britain grants export licenses for defense equipment to Israel, while Canada stopped licensing arms exports to Israel to ensure compliance with humanitarian law. The Netherlands halted shipments of parts for F-35 jets to Israel due to concerns about violations of humanitarian law.
Warner Bros Discovery squeezed by studio slump, weak ad spending
Warner Bros Discovery posted a larger than expected quarterly loss due to slumping advertising sales at its cable TV unit and fallout from Hollywood strikes and poor demand for a “Suicide Squad” game.
UAE tourist arrivals to Cyprus increase , — ministry sees potential in Middle East and Asia
The United Arab Emirates tourist market for Cyprus is steadily rising, with a 14% increase in arrivals from the UAE last year. Meetings were held with airlines and travel agents to increase tourist flows from the UAE and Middle Eastern countries. Discussions also focused on strengthening demand from India and forming strategic partnerships with the UAE in the investment sector.
Timur Turlov discusses Cyprus operations: Freedom24, ’s key to European market
Fact: Freedom Holding Corp. is planning to obtain banking licenses in Cyprus as part of its strategic priorities.
Turkey says it is not easing Israel export ban
Ankara has introduced a three-month reprieve for companies with existing export deals to Israel, but the trade ban with Israel will remain until a permanent ceasefire in Gaza and humanitarian aid flow to the region are secured. The claims of Turkey easing the trade ban with Israel are said to be “absolutely fictional” by the Turkish Trade Minister.
Hope fades for 44 trapped in collapsed South Africa building
44 construction workers are trapped under a collapsed building in George, South Africa. 8 people have been confirmed dead, 29 are alive, and 16 are in critical condition. Rescue efforts are ongoing with heavy machinery and sniffer dogs being used. President Cyril Ramaphosa has called for an investigation into the causes of the collapse.
Two Chinese megacities lift home purchase curbs to attract buyers
Two Chinese provincial capitals, Hangzhou and Xian, have lifted all home purchase restrictions to attract buyers and support their struggling real estate markets. The last property boom in many Chinese cities ended around 2020-2021 due to the pandemic and strict borrowing requirements imposed by regulators. Authorities have been implementing measures to bolster the sector, but many policies have had limited impact. Hangzhou saw a 1.0% increase in new home prices in March, the slowest pace in nearly six years, while new home sales slumped 75% year-on-year in April. The move by Hangzhou and Xian to remove purchase restrictions was described as symbolic and unlikely to significantly boost demand. Analysts believe that prices need to fall further before the property market can see a sustainable rebound in demand.