EU admin needs to be fit for green, AI future, says top official
Fact: European Union countries’ budget cuts have resulted in reduced staff in public administration and delayed training or introduction of new technologies.
Economy
Bank of Cyprus: maintaining a leading role in the environmental, social and governance pillars
Bank of Cyprus is focusing its efforts on fighting climate change, which is the biggest challenge that humanity faces.
UK landlords bet on green offices as hybrid work makes tenants picky
Fact: UK commercial property firms have seen steady growth in rental incomes and occupancy rates in environmentally compliant office spaces in prime locations in London.
Erdogan vows to make amends after humbling election loss in Turkey
President Tayyip Erdogan acknowledged his party’s defeat in Turkey’s local elections, which was attributed to economic issues and a divisive political style. The opposition party, CHP, won the popular vote for the first time in decades and secured victories in major cities. Erdogan vowed to correct any mistakes made and address the economic challenges faced by voters, as the Turkish lira hit a record low. The opposition’s success was seen as a turning point in Turkish politics, with Istanbul Mayor Ekrem Imamoglu emerging as a strong rival to Erdogan.
Moldova to buy US-origin LNG from Greece for consumers
Moldova’s domestic gas supplier Energocom will supply its consumers with test volumes of U.S.-origin liquefied natural gas (LNG) for the first time on Monday and Tuesday. Moldova has been diversifying its gas sources following Russia’s invasion of Ukraine. Energocom will purchase LNG from the Alexandroupolis floating terminal in Greece. Moldova does not currently buy gas from Russia, but its breakaway Transdniestria region relies on Russian supplies.
Russian stocks hit highest in over two years
Russia’s benchmark stock index reached its highest level since February 2022 on Monday, while the rouble also strengthened slightly against the U.S. dollar. The MOEX Russian index rose 0.9% to 3,361.5 points, the strongest since Feb. 24, 2022. The dollar-denominated RTS index also increased by 0.9% to 1,147.5 points. The rouble was 0.2% higher at 92.29 to the dollar. There are concerns of potential weakening in the rouble in the upcoming days due to the end of a favorable month-end tax period and possible demand for dollars and euros in the U.S. and Europe after Easter. The rouble also saw changes against the euro and yuan. Brent crude oil, a key export for Russia, dropped 0.3% to .71 a barrel.
Imamoglu, the Turkish mayor most likely to challenge Erdogan, ’s rule
Fact: Newly re-elected Istanbul Mayor Ekrem Imamoglu is seen as the main challenger to Turkish President Tayyip Erdogan’s reign.
Positive outlook for Cyprus economy, according to rating agency
Capital Intelligence Ratings has revised its long-term foreign currency rating outlook for the Republic of Cyprus from stable to positive. The government’s debt has been reduced due to consistent primary fiscal surpluses and proactive debt management.
Blue Limassol Forum 2024 to focus on climate-neutral cities
Limassol Municipality and Frederick University’s Department of Maritime and Commerce are collaboratively organizing the Blue Limassol Forum 2024, which is focused on the EU Mission for climate-neutral and smart cities by 2030. Limassol was honored with the “EU Mission Label” by the European Commission, marking a significant milestone towards the city’s transition to climate neutrality. Limassol aims to become a green and smart city by 2030, ahead of most European cities. The forum serves as a platform for raising awareness and fostering dialogue on key issues related to the Blue Economy and Coastal Sustainability. Limassol is one of the 100 EU cities participating in the Cities Mission, with Frederick University acting as a scientific advisor for the “Coastal and Port” thematic area. The event will feature discussions on the transformative potential and benefits for coastal communities and marine ecosystems under the EU Mission for Climate Neutral Cities.
Lidl Cyprus: Practices with a positive impact on people and society
Lidl Cyprus aims to consistently leave a positive imprint on the country by focusing on Corporate Social Responsibility.