Fact: The innovation certificate offers a 50 per cent tax exemption for investments in innovative businesses, with a total of 38 certificates granted to qualifying applicants last year.
Japan has expressed regret over U.S. President Joe Biden’s comment that “xenophobia” is hindering the country’s economic growth. Despite this, Japan’s ties with the United States remain strong, with Tokyo aiming to strengthen them further. Biden had stated that immigration has been beneficial for the U.S. economy, contrasting it with countries like China, Japan, Russia, and India, which he claimed are struggling due to being xenophobic towards immigrants. Japan, known for its homogeneity, has been hesitant about immigration but is facing a labor shortage due to declining birthrates and an aging population. Prime Minister Kishida mentioned the possibility of inviting skilled workers to Japan but ruled out a comprehensive immigration program, citing resistance within Japanese society towards continuous immigration from overseas.
Amazon Web Services (AWS) plans to invest S billion in expanding its cloud computing infrastructure in Singapore over the next four years. Additionally, AWS has already invested S.5 billion in the Asia Pacific Region until 2023, with a total planned spend of more than S billion by 2028. Other tech giants like Apple and Microsoft are also making significant investments in the region, indicating the growing interest in Southeast Asia’s tech market.
Beijing supports a peace conference on the Ukraine war with equal participation of all parties, aiming to achieve peace in Ukraine. Switzerland will host talks on June 15-16, but Moscow and Kyiv have expressed doubts about the summit. China had previously proposed a 12-point plan to end the war, which received a mixed reception. Despite the ongoing conflict, Beijing is willing to continue playing a role in finding a solution to the crisis.
Global petrol demand growth is expected to halve in 2024 due to a shift to electric cars in China and the United States, as well as a return to normal consumption levels after the COVID-19 pandemic.
British services companies reported the strongest upswing in activity in almost a year during April, with the S&P Global UK Services Purchasing Managers’ Index rising to 55.0, its highest level since May 2023. The survey also showed a robust increase in new orders and the biggest acceleration of cost pressures since August. This increase in costs was attributed to a 10 per cent increase in the national minimum wage in April, leading to a slowdown in employment growth. The UK economy is expected to grow at a quarterly rate of 0.4 per cent, pulling further out of last year’s shallow recession. The composite PMI, which combines services and manufacturing data, rose to 54.1 from 52.8 in March, marking a one-year high.
Fact: Tuesday will be mainly clear with increased clouds and a chance of isolated rains in the afternoon, mainly in the mountains.
Maria Angela Holguin, the personal envoy of the UN Secretary General, will arrive in Cyprus on Tuesday evening and stay until May 14. This will be her third mission to the island as she seeks common ground between parties in efforts to solve the Cyprus problem.
– Bonnie Tyler is a critically acclaimed and multi-award nominated artist.
– She is set to perform in Cyprus in a one-night only show on July 20 at Larnaca Marina.
– Tickets are on sale with prices ranging from €50 to €150.
– Nicosia district court Judge Niovi Petridou issued a remand order for six of the nine suspects arrested in connection with the attempted murder in Lakatamia in April.
– The decision for the remaining three suspects will be announced at noon on Tuesday.
– One of the suspects is a convict being held in the central prisons, sentenced to 17 years in prison in 2021 for attempted murder.
– The 45-year-old suspect allegedly paid the shooter €10,000 euros and promised him a monthly sum of €1,500 for life.
– The 45-year-old was presented as the new Nicosia gang leader and in conflict with the victim over control of properties, primarily betting agencies.
– The fifth suspect allegedly tried to shoot the victim on two separate occasions but hesitated, leading the sixth suspect to take over the job.
– Serious evidence has been sent for tests and the exact motive of the crime will be announced after completion of the investigation.
– The weapon used in the crime has not been found yet, and a burned motorbike found in Aglantzia is being investigated for links to the case.