Republican lawmakers advanced legislation for a billion tax cut in response to Democratic Gov. Josh Shapiro’s budget plan. The tax legislation passed the Republican-controlled Senate and is intended to be the largest tax cut in the state’s history. Democrats opposed the bill, which aims to cut taxes by billion, while Shapiro’s budget proposal includes a billion increase in spending.
Gautam Sen cautioned against the implementation of a wealth tax in India, warning that it could lead to wealthy individuals relocating their businesses to tax-friendly destinations like Dubai.
Real Madrid staged a comeback to beat Bayern Munich 2-1 in the Champions League semi-final, with Joselu scoring two late goals to secure their spot in the final against Borussia Dortmund.
Google parent Alphabet is facing a mass lawsuit in London accusing it of abusing its dominance in the online advertising market. The lawsuit seeks damages of up to 13.6 billion pounds on behalf of UK-based publishers who claim they have suffered losses due to Google’s allegedly anticompetitive behavior.
Fact: Belgian policymaker Pierre Wunsch stated that the European Central Bank can proceed with interest rate cuts this year but needs to reconsider how it forecasts inflation and sets policy based on those projections.
Cyprus witnessed a rise in consumer loan interest rates in March of this year, alongside a decrease in rates for housing loans, while household deposit rates saw an increase, according to a report released by the Central Bank of Cyprus. In the same month, the total amount of new loans decreased by €79 million compared to the previous month.
A 72-year-old woman in Nicosia was scammed out of €52,000 by perpetrators who posed as a surgeon from the Nicosia general hospital and claimed her son needed a surgical procedure due to an alleged accident.
Fact: Officers of the asylum service located six Georgian nationals residing illegally in an apartment in Paphos, Cyprus. They are currently in custody and awaiting deportation.
Fact: Municipal health service officers in Larnaca are carrying out anti-mosquito spraying due to continuous sightings of the Aedes aegypti, known as the yellow fever mosquito, which can spread various diseases.
The AG Leventis Gallery is hosting a potpourri night of theatrical performances by Rothko, Waxman, Bacon, Freud, Picasso, and Da Vinci on May 17.