Crucial debate set for House on Corporate Income Tax agency

Crucial debate set for House on Corporate Income Tax agency

Created: Jul 19, 2024 07:25 AM The creation of a new tax agency to deal with the upcoming Corporate Income Tax is to go before MPs today in the House of Assembly.A long debate can be expected over the momentous legislation, which includes the penalty of a $100,000 fine and up to two years’ imprisonment … Read more

North clamps down on foreigners buying property

North clamps down on foreigners buying property

The fact described in the text is that the north’s ‘parliament’ passed a law clamping down on foreigners buying property, limiting them to one house or apartment on less than 2,500 square meters of land.

Cambodia says it will cut shipping through Vietnam by 70% with new China-funded Mekong canal

Cambodia says it will cut shipping through Vietnam by 70% with new China-funded Mekong canal

Cambodia plans to cut shipping through Vietnamese ports by 70% due to a .7 billion China-funded upgrade of a canal connecting the Mekong River basin to the Cambodian coast.

Government to implement comprehensive water policy

Government to implement comprehensive water policy

The Ministerial Council has approved the National Investment Plan for Water Projects in Cyprus. The plan focuses on implementing a comprehensive water policy that addresses new data and meets the needs for water supply and irrigation. The Ministry of Agriculture, Rural Development, and Environment will coordinate and monitor the plan’s implementation. The plan includes prioritizing projects based on documented needs, better allocation of water resources, nationwide distribution to meet needs, and improved implementation of wastewater system construction. The total budget for the plan is €1.17 billion, with first-priority projects estimated at €721.8 million and completion targeted for 2024-2029. Another 60 projects are under evaluation, estimated at €445.5 million, with start and completion dates in 2025 and 2030.

Fibre optic cables , ‘will not impact environment’

Fibre optic cables , ‘will not impact environment’

The installation of undersea fibre optic cables in Yeroskipou will not impact areas under the Natura 2000 framework or other Special Protection Areas (SPAs).

Island states, ’ requirements must be noted in EU 2040 climate goals, says minister

Island states, ’ requirements must be noted in EU 2040 climate goals, says minister

Agriculture Minister Maria Panayiotou emphasized the importance of considering the individual circumstances of member states when working towards EU climate goals.

Dams below 50 per cent capacity despite adverse weather

Dams below 50 per cent capacity despite adverse weather

– Rainfall in February was only 48% of the average for that time of year, and temperatures were 2.1 degrees Celsius above normal.
– From October 2023 to February 2024, total rainfall was approximately 280.4mm, or 75% of normal.
– During the same period, 20 million cubic metres of rain flowed into reservoirs, which is below desirable levels.
– Reservoirs are at 47% capacity compared to 69% the previous year, containing 138 million cubic metres compared to over 200 million cubic metres going into the summer of 2023.
– The Kouris dam is at 40.8% capacity, Kalavasos at 30.3%, Lefkara at 63%, Asprokremmos at 55.6%, and Evretou at 54.6%.
– Inflow into reservoirs this winter has been low.
– It is unlikely there will need to be water cuts this summer, but there will be limits on the quantity given to agriculture.
– Measures are being promoted to inform farmers about improved irrigation practices and the maximum utilisation of reclaimed water.
– February’s weather included torrential rain, hail, snow in the mountains, and even a tornado, but these did not significantly contribute to reaching normal levels of rainfall for the month.
– Rainfall in Stroumbi in Paphos was 20% of the normal for February, while in Kelokedara it was 122% of the average. In the Larnaca district, rainfall ranged from 56% of normal in Meniko to 114% in Athienou.
– A tornado hit Yermasoyia on February 14, causing significant damage to houses, properties, and the electricity network, resulting in power cuts in several areas of Limassol.
– Nicosia district experienced flooding in the Potami area and damage in Kampos village due to bad weather.
– Torrential rain later in the month caused problems in Astromeritis, Evrycho, Agia Marina Xyliatou in Nicosia, and in Kofinou in Larnaca. The Kilrou dam also overflowed.
– The bad weather affected the entire island from February 13-18, impacting traffic flow on highways.
– Most weather stations recorded their highest maximum temperatures on February 6, 13, 25, and 29, reaching 16C and 17C. Only February 1 and 5 had temperatures below normal.