Since January 2024, the European Union’s (EU) Emissions Trading System (ETS) has included maritime transport. What does that mean? According to the European Commission, maritime transport is one of the most energy-efficient modes of transport. However, because of its importance to the EU economy, it is a large and growing source of greenhouse gas emissions.…
For financial reporting periods beginning on or after 1 January 2027, entities must apply the requirements of IFRS 18 “Presentation and Disclosure in Financial Statements”. The International Accounting Standards Board has issued the new standard, officially replacing IAS 1 “Presentation of Financial Statements”. Financial Statements will have a different presentation on their financial performance statements…
Several countries have either banned, or are moving towards banning, access to certain generally available apps amongst under 16s. This has largely been driven by concerns about mental health, safety and the influence of algorithms on young minds. Whilst the reasons behind these initiatives are certainly laudable, they also raise a question as to whether…
Despite global uncertainty and geopolitical shifts, South East Europe’s merger and acquisition (M&A) landscape is shaping up to remain solid, with steady investor appetite and domestic dealmaking to stay active. But what are the key trends shaping the market and what should businesses be preparing for next? Transaction Services Partner, Stela Ivanchova provides insight. …
Global technology, media and telecommunications (TMT) dealmaking is entering a new phase – one defined less by volume and more by conviction. Buyers are no longer focused on how much they acquire, but on what they are prepared to bet big on. The latest review of global TMT mergers and acquisitions (M&A) by Baker Tilly…
According to Climate Action Tracker, under current policies, global warming is projected to fall woefully short of the Paris Agreement threshold of 1.5⁰C above pre-industrial levels, which are necessary to mitigate the long-term impacts of global warming and associated man-made climate change. Shockingly the figure Climate Action Tracker cites is 2.7⁰C above pre-industrial levels. If…
The fiduciary services industry in Cyprus has entered a new regulatory and operating environment following the enactment of the long‑anticipated tax reform. The reform, which came into effect on 1 January 2026, represents the most comprehensive overhaul of the Cyprus tax system in more than two decades. For fiduciary service providers, the reform is not…
When the European Green Deal was launched in December 2019, it set the tone for the EU to be a world leader in addressing climate change issues. The comprehensive plan aimed at making the European Union climate-neutral by 2050, with at least 50% greenhouse gas emissions cut by 2030. Roll forward to 2025 and the…
To meet GHG reduction levels, the number of flights globally will need to be significantly reduced. There are a number of implications. Firstly, the more people who migrate to other countries, the more people will need to travel back to visit family and friends, and the more consequent travel will be required. This will be…