undertakings

Legal issue affects continued employment for Larnaca port workers

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Legal issue affects continued employment for Larnaca port workers

A legal dispute has arisen regarding the future of workers at Larnaca Port and Marina after a development project collapsed. The contracting company, Kition Ocean Holdings, transferred the workers to the state instead of sending termination letters. Trade unions argue that proper termination letters are needed for the workers to be reassigned to the Development Company. The company claims they followed the TUPE law to protect the workers’ rights during the transfer. The workers met with the Mayor to express their concerns, and further discussions are scheduled.

Government does not have plan for Larnaca marina employees, Kition says

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Government does not have plan for Larnaca marina employees, Kition says

Kition Ocean Holdings expressed concern for the welfare of its employees following the government takeover of the port and marina. The company blamed the government for not having a handover period, causing uncertainty for staff. Kition stated that according to the TUPE law, employees should be automatically transferred with their existing rights to the new employer. The company seeks reassurance from the government that employees’ rights will be protected during the transition.

CySEC issues decisions on firm license withdrawals, public takeover exemption

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CySEC issues decisions on firm license withdrawals, public takeover exemption

CySEC recently announced decisions to withdraw licenses from Ganita Global Gateways UCITS V.C.I.C Platform PLC, Oval Money (Europe) Ltd, and Forextime Ltd.

UK fashion retailers ASOS, Boohoo to clarify green credentials claims, says regulator

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UK fashion retailers ASOS, Boohoo to clarify green credentials claims, says regulator

Top fashion retailers ASOS, Boohoo, and George at Asda have signed undertakings to clarify the way they display, describe, and promote their environmental credentials. The Competition and Markets Authority (CMA) conducted an investigation in 2022 to address companies exaggerating their green credentials. Some of the undertakings include using clear statements about materials in green ranges and setting criteria for products in environmental collections. The three brands collectively make over 4.4 billion pounds annually from UK fashion sales.