The Greek-speaking second city of Cyprus, Limassol, has all the usual Mediterranean features; warm summers, local delicacies and sandy beaches. It also has 35,000 Russians living there permanently thanks to years of favourable business rates and bank secrecy. Recent pressures from EU sanctions and financial haircuts mean it's not as good a place to be for Russians as it used to. So will Cyprus suffer from a Russian exodus?

Why Russians love Cyprus and Cyprus loves Russians

Parle Biscuits has reported a twofold jump in profit at Rs 1,606.95 crore for FY24 while revenue from operations was up 2 per cent to Rs 14,349.4 crore.
Total revenue was up 5.31 per cent at Rs 15,085.76 crore in FY24 helped by other income, according to financial data accessed through business intelligence platform Tofler.
Parle Biscuits, a subsidiary of Parle Products, had reported a standalone profit of Rs 743.66 crore in FY23 and revenue from sale of products was at Rs 14,068.80 crore.
Incorporated in September 1974, Parle Biscuits is a leading manufacturer of biscuits and confectionery. It owns popular brands such as Parle G.
Parle Biscuits' advertising promotional expenses in FY24 were up 3.23 per cent to Rs 442.81 crore. This was at Rs 428.93 crore a year ago.
Total tax expense of Parle Biscuits was Rs 499.4 crore in FY24. Total expenses were at Rs 12,979.41 crore, down 2.54 per cent year-on-year.
Sharing the scenario and outlook, Parle Biscuits said FY24 was fulfilling an

Parle Biscuits, a subsidiary of Parle Products, had reported a standalone profit of Rs 743.66 crore in FY23 and revenue from sale of products was at Rs 14,068.80 crore

Kalyani Investment Company, one of the promoter group entity of Bharat Forge, has settled a case with Sebi about the alleged violation of disclosure norms after paying Rs 1.12 crore towards the settlement fee.
Kalyani Investment Company Ltd (KICL), a listed entity, is part of the over USD 2.5 billion Kalyani Group.
The order came after the applicant (Kalyani Investment Company) proposed to settle the instant proceedings initiated against it, without "admitting or denying the facts and conclusions of law", under the Sebi's settlement regulations.
"In view of the acceptance of the settlement terms and the receipt of the settlement amount, the adjudication proceedings initiated against the applicant (Kalyani Investment Company) vide show cause notice (SCN) dated March 19, 2024, is disposed of," Sebi's adjudicating officer Amit Kapoor said in the settlement order on Friday.
The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant for th

Kalyani Investment Company Ltd (KICL), a listed entity, is part of the over $2.5 billion Kalyani Group

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Former India cricketer Vinod Kambli has been admitted to a hospital here due to deterioration in his health.
The 52-year-old was brought to the hospital by one of his fans who also owns the hospital in Bhiwandi's Kalher area in Thane district and his condition is said to be stable, even though the exact reasons for his hospitalisation could not be ascertained.
Kambli was admitted to the hospital on Saturday.
Kambli, who played 17 Tests and 104 ODIs for India between 1993-2000, had recently attended the inauguration of legendary coach Ramakant Achrekar's memorial at the Shivaji Park here.
The former India cricketer, who has been struggling with health-related issues for quite some time, appeared frail in the function which was also attended by his long-time friend Sachin Tendulkar.

The 52-year-old was brought to the hospital by one of his fans who also owns the hospital in Bhiwandi's Kalher area in Thane district and his condition is said to be stable

Two individuals, including a former employee of Deloitte India, on Monday settled with capital markets regulator Sebi a case pertaining to the alleged violation of insider trading rules by paying Rs 74 lakh towards settlement fee.
Nimai Parekh and Rahil Dalal (applicants) had proposed to settle the matter by neither "admitting nor denying the findings of fact and conclusions of law", Sebi said.
"In exercise of the powers...and in terms of the settlement regulations, it is hereby ordered that any proceedings that may be initiated for the violations are settled in respect of the applicants," Sebi's whole-time member Kamlesh C Varshney said in the settlement order.
Sebi conducted an investigation in the scrips of HDFC Ltd and HDFC Bank Ltd, so as to ascertain whether any suspected entities on the basis of information relating to amalgamation/merger, had traded in the scrips, and thereby violated PIT (Prohibition of Insider Trading) rules.
The investigation period was taken from Novemb

According to Sebi, the information pertaining to the merger was found to be an Unpublished Price Sensitive Information (UPSI) and the UPSI period was considered from December 13, 2021 to April 4, 2022

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The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

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Why Russians love Cyprus and Cyprus loves Russians

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