Two men, aged 46 and 35, were arrested and remanded for eight days after the largest cache of weapons and explosives ever found in Cyprus was discovered at a cemetery in Oroklini.
Within the next two weeks, answers will be given for several stalled infrastructure projects, including the impasse over Larnaca’s revamped port with concession holder Kition Ocean Holdings (KOC). The Ministry of Transport is considering the option of canceling the contract with KOC due to breach of contractual terms, which could result in the port reverting to management by the state’s Ports Authority. The ministry is also considering other investors who have shown interest in the project.
Turkish Cypriot farmers smashed the gate of the north’s ‘transport ministry’ building in protest.
The Cat Protection and Welfare Association (P.A.W.S.) is urging authorities to take action against an individual accused of neglecting cats held in cages for months in Strovolos. P.A.W.S. president Dinos Agiomamitis alleges that the cats, including three who gave birth in captivity, are suffering due to prolonged confinement, with stress causing the mothers to kill and eat their kittens. Despite repeated complaints, relevant bodies like the police and veterinary services have failed to intervene. The cats endured poor conditions, including exposure to harsh weather that led to flooding in the cages. P.A.W.S. is requesting the Attorney General prosecute the individual for animal cruelty, while Strovolos Municipality has already filed charges against the owner for illegal structures housing the cats. The accused reportedly lives away from the location and feeds the cats wet bread twice a week.
More than 140 passengers and crew from a Singapore Airlines flight that was hit by heavy turbulence finally reached Singapore after an emergency landing in Bangkok. One person died of a suspected heart attack and at least 30 people were injured. The turbulence caused passengers and crew to be flung around the cabin, resulting in injuries such as gashes and concussions. The relief flight from Bangkok carried injured passengers and crew back to Singapore, while the investigation involved officers from Singapore’s Transport Safety Investigation Bureau and the U.S. National Transportation Safety Board. Turbulence-related accidents are common, with the NTSB reporting that turbulence accounted for over a third of airline accidents from 2009 to 2018.
One passenger died from a suspected heart attack and 30 others were injured when a Singapore Airlines flight from London to Singapore encountered severe turbulence, prompting the plane to divert to Bangkok.
One person died and many were injured on a Singapore Airlines flight due to severe turbulence. Safety experts emphasize the importance of wearing seatbelts during flights, especially during clear-air turbulence, which is difficult to detect. Turbulence-related airline accidents are common, and passengers are advised to stay buckled in and minimize movement during flights. Airlines have protocols for dealing with turbulence, including turning on the seatbelt sign and instructing passengers to remain seated. Some experts caution against leaving the seatbelt sign on throughout the flight, as it may lose its significance.
Astrobank is opening a new branch in the Dali area in Nicosia, which is considered an underserved location with no existing banking facilities. The bank will seek regulatory approval from the Central Bank of Cyprus to distribute dividends and aims to reduce non-performing loans to single digits by July. Astrobank has a capital adequacy ratio of 23.7% and has already met the Minimum Requirements for Own Funds and Eligible Liabilities. The bank is optimistic about the future and is open to acquisitions and evaluating new opportunities in the banking sector.
Lendlease is facing a big battle with major investors, with a showdown expected later this month.
The Trudeau government introduced the Accelerated Investment Initiative in late 2018 to encourage corporate investment by allowing companies to expense the cost of new equipment and systems. However, the policy is set to expire by 2028, leading to an increase in effective tax rates on new investments. The Liberals are focusing on redistributionist efforts and targeted tax credits, rather than extending the sector-neutral accelerated capital-cost allowances program. This approach limits the impact on productivity-enhancing assets and may hinder overall economic growth.