Bloomberg | Jun 26, 2024 04:09 PM IST Share Via Copy Link Already haunted by a history of company collapses, Kenya’s moribund corporate bond market risks a fresh setback from authorities plans for a withholding tax on green bonds. Already haunted by a history of company collapses, Kenya’s moribund corporate bond market risks a fresh … Read more
– The House plenary passed laws related to regulations for local government bodies and operating permits for hotels before adjourning for the upcoming June elections.
– MPs approved a law extending the grace period for hotels lacking a full operating permit until the end of 2024, with a requirement to submit ‘as-built’ plans in the meantime.
– The transitional period for hotels to secure an operating permit has been extended by another six months.
Fact: The Deputy Ministry of Tourism in Cyprus recently revised the inventory of hotels and tourist accommodations, with the majority of them not meeting the necessary compliance criteria.
– Currently over 90 per cent of hotel businesses are not able to secure the required certificates for a full operating license.
– Lingering concerns that the bill does not include adequate provisions relating to fire safety regulations.