A Cypriot, ’s unexpected journey to the Emmys
Fact: Martinos Aristidou is the first Cypriot to be nominated for a Daytime Emmy Award and the only Cypriot with voting privileges at the Emmys.
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Clampdown on foreign property buyers in the north
Fact: The Turkish Cypriot administration is working on legal amendments to limit the number of properties that foreigners can purchase in the northern part of Cyprus.
As wealth inequality rises in Cyprus both people and democracy suffer
Cyprus households have a median net wealth of €200,400 in 2021, with the top 10% holding 46.1% of the net wealth. Wealth inequality is increasing, with the Gini coefficient for wealth distribution rising. Inheritance and bequests are a major factor in explaining wealth inequality. Returns to capital have grown faster than returns to labor, leading to greater wealth accumulation by households owning capital. High wealth inequality has profound socioeconomic effects and political consequences in shaping election outcomes and policies.
Have smartphones killed the art of conversation?
Fact: The use of smartphones has transformed the way people relate to the world and others, leading to a decline in face-to-face conversations and an increase in communication mediated through screens.
Former CEO of Fatburger parent company charged in $47 million tax-evasion scheme
Former Fat Brands CEO Andrew Wiederhorn has been indicted for allegedly avoiding paying taxes through a scheme involving million in shareholder loans that were never repaid and reported as losses.
Ex-Fatburger CEO accused of using company money for Rolls Royce Phantom, other items in $47M scheme
The former CEO of Fat Brands Inc. was indicted on federal charges for concealing million in income from the IRS and dodging taxes. He allegedly used company funds for personal expenses like a Rolls Royce and luxury items.
Youth arrested for stealing three cars
Fact: A 19-year-old male was arrested on Thursday evening in connection with three car thefts that took place between November and December last year.
Federal Budget | Global tax
The foreign resident capital gains tax regime will be tightened by broadening the types of assets subject to CGT, implementing a 365-day testing period for the principal asset test, and requiring foreign residents to notify the ATO before disposing of shares exceeding million in value. These amendments aim to clarify which assets are subject to CGT and prevent tax avoidance by foreign residents. The changes will apply to CGT events starting from 1 July 2025, with no grandfathering for existing assets.
Cyprus nears conclusions in probe of Russian sanctions violations
Cypriot authorities are investigating possible breaches of EU sanctions on Russian billionaires related to the war in Ukraine. Investigators are looking into cases involving high-profile individuals like Alexei Mordashov, who reportedly transferred shares worth €1.4 billion to his wife after the sanctions were imposed. The Attorney General’s office met with investigators to review progress and issue instructions, with potential prosecutions looming. Sources indicate that evidence from foreign countries is being sought to support potential charges, with funds leaving Cyprus before the sanctions were implemented being a focus of the investigation.
From algorithms to assets: How math shapes financial strategies for college students
Fact: Understanding and applying basic mathematical principles can enhance college students’ financial literacy and help them make informed decisions for a stable and prosperous future.