US will not take part in retaliatory action against Iran, White House says

US will not take part in retaliatory action against Iran, White House says

President Joe Biden warned Prime Minister Benjamin Netanyahu that the U.S. would not participate in a counter-offensive against Iran if Israel decides to retaliate for a mass drone and missile attack on Israeli territory overnight. The threat of open warfare between the two countries has caused global powers and Arab nations to urge restraint to avoid further escalation. The U.S. will continue to help Israel defend itself but does not want war, according to the White House’s top national security spokesperson. Iran launched the attack in response to a suspected Israeli strike on its consulate in Syria, causing only modest damage in Israel as most missiles were shot down with the help of the U.S., Britain, and Jordan. Israel is not planning an immediate retaliation and is seeking to build a regional coalition to address the threat posed by Iran.

India’s Modi promises to create jobs, boost infrastructure if BJP wins third term

India’s Modi promises to create jobs, boost infrastructure if BJP wins third term

The Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) promised to create jobs, boost infrastructure, and expand welfare programs if it wins a third term in the upcoming elections. The election will be held in seven stages until June 1, with results expected on June 4. Unemployment, inflation, and rural distress are major concerns despite strong economic growth, and Modi’s focus is on addressing these challenges. The manifesto, titled ‘Modi’s Guarantee,’ aims to create jobs in various sectors and expand welfare programs such as free health insurance and subsidized cooking gas connections. Modi emphasized the importance of improving the quality of life and creating opportunities for India’s youth.

The worst economic crisis in Turkish Cypriot history

The worst economic crisis in Turkish Cypriot history

Fact: The annual inflation rate in the northern part of Cyprus hit 94.5 per cent in March, with monthly food inflation reaching 3.4 per cent.

Cypriots squeezed out of the property market

Cypriots squeezed out of the property market

Cypriots are facing difficulties in the property market due to climbing rents, high construction costs, and interest rates. The government is being urged to intervene to address the issue. In Limassol, renting a one-bedroom flat costs a minimum of €850 a month, making it unaffordable for many locals. The government has introduced new construction incentives to stimulate affordable housing development.

European stocks gain, dollar strong as traders cut Fed easing bets

European stocks gain, dollar strong as traders cut Fed easing bets

European stocks were on track to outperform Wall Street on Friday due to high demand for exporter shares as major currencies in the continent dropped against a strong dollar.

The European Parliament’s achievements through the eyes of the Cypriot MEPs

The European Parliament’s achievements through the eyes of the Cypriot MEPs

The European Parliament has been instrumental in enacting reforms to enhance the lives of people in Europe, including managing the COVID-19 pandemic by endorsing the Recovery and Resilience Mechanism and contributing to the NextGenerationEU financial plan. Key achievements also include advancements in Green and Digital Transitions, implementing measures for health, welfare, and daily experiences of EU citizens, and supporting young people through initiatives like the European Year of Skills.

‘Political climate benefits Elam’

‘Political climate benefits Elam’

Elam is currently polling at 11 per cent, slightly ahead of Diko at 10 per cent.

The Corporate Rate Cut and Revenues – AAF

The Corporate Rate Cut and Revenues - AAF

The fact described in the text is that the 21 percent corporation income tax rate, which was implemented as part of the 2017 Tax Cuts and Jobs Act, does not sunset at the end of 2025. Opponents of the TCJA criticize the rate cut from 35 to 21 percent, while some supporters argue that the rate cut “paid for itself.” The graph presented in the text shows a sharp falloff in revenue in 2018 after the rate cut, but revenue in 2022 and 2023 is above the amount projected by the Congressional Budget Office. The text concludes that the corporate rate cut is not a non-starter or a freebie, but rather a trade-off that is central to real tax reform.

Govt to continue forest fire fighting measures

Govt to continue forest fire fighting measures

Fact: Deforestation and the uncontrolled use of forests have led to an alarming decline in the number of trees worldwide, causing the climate crisis to worsen.

Cyprus, Japan working on economic and business ties

Cyprus, Japan working on economic and business ties

Energy, Commerce and Industry Minister George Papanastasiou and Japan’s Parliamentary Vice-Minister for Economy Taku Ishii expressed the joint wish to renew discussions on strengthening economic and business ties between Cyprus and Japan.