5 Minute News

A new wave of selling is hitting U.S. stock markets, with Wall Street experiencing its worst session since June 2020. China has imposed new 34% tariffs on all American products in retaliation for Donald Trump's tariffs, raising concerns about a trade war. Major indices like the S&P 500 and Nasdaq saw significant declines as investors pulled out of stocks. The situation worsens due to inflation worries and low bond yields.

Elon Musk, Mark Zuckerberg, and Jeff Bezos lost over $50 billion in just two days due to new tariffs announced by Donald Trump. These losses negatively impacted the stock markets and significantly affected their personal wealth. Their companies, including Tesla and Amazon, experienced severe declines in market capitalization. The situation remains uncertain as investors await further developments in U.S. trade policies.

A new study in Wales indicates that the shingles vaccine may reduce the risk of developing dementia, including Alzheimer's. The study involved nearly 300,000 participants and found that vaccinated individuals had a 20% lower risk of dementia over seven years. Notably, women showed greater protection. Researchers suggest that vaccination may reduce inflammation in the nervous system.

A 34-year-old American woman was arrested at Larnaca Airport while carrying approximately 37 kilograms of cannabis. She arrived in Cyprus with two suitcases from Amsterdam via Paris. The operation was conducted by the Drug Law Enforcement Unit in collaboration with Customs Authorities. Investigations are ongoing for further details.

Several areas in Nicosia and Larnaca, Cyprus, experienced power outages due to lightning strikes that damaged the electricity transmission network. Christina Papadopoulou, the spokesperson for the Electricity Authority of Cyprus, stated that repair crews are on-site working diligently. Their goal is to restore power as quickly as possible.

European markets are significantly impacted by Trump's recent tariff policies, with tariffs reaching 20% for the EU and 10% for the UK. The luxury goods and food sectors are bracing for substantial losses, with expected declines of up to 20% in their sales in the U.S. The impact of the trade conflict raises concerns about ongoing business growth and employment. The effects are severe, as markets face challenging times in maintaining stability.

Writers condemn the distortion of poet Vasilis Mihailidis’s character in the series 'Trikimia,' claiming that the screenwriters are misrepresenting historical truths. They provide specific examples that illustrate the lack of respect for reality. Dimitris Tokaris, the coordinator of the series, emphasizes that this work is a fictional narrative rather than a historical biography. They urge the state channel to correct these inaccuracies.

China has announced a 34% tariff on all imports from the United States in response to Donald Trump's trade policies, effective April 10. Additionally, China is imposing controls on the export of certain rare earth categories to the U.S. The international markets reacted negatively, with a decline in stock indices, and the European Union may face significant financial losses. An official complaint has also been filed with the World Trade Organization against the U.S. tariffs.

The investigation by the Independent Anti-Corruption Authority into former president Nikos Anastasiades is entering the hearing stage. Current President Nikos Christodoulides and Anastasiades will testify about the use of a private jet linked to Russian billionaire Dmitry Rybolovlev. Author Makarios Drousiotis claims that Rybolovlev covered the travel expenses of Anastasiades. Anastasiades has countered with his views in his book "The Slanderer."

Bus driver Marios Zinonou shares his terrifying experience when a firecracker exploded in front of him, causing him immense fear and pain. Luckily, his passengers came to his aid and an ambulance was called. Doctors confirmed there was no permanent damage to his eye, but he is experiencing hearing issues. The driver emphasized that incidents of violence against bus drivers have intensified recently.

Due to heavy rainfall and hail, drivers are urged to exercise caution while driving. The police recommend driving at low speeds and maintaining safe distances from other vehicles. A yellow weather warning has been issued by the Meteorological Department for upcoming thunderstorms. Strong storms are expected mainly in mountainous areas and other regions of the island.

The billionaire list for 2025 includes 78 countries and semi-autonomous territories. Elon Musk remains the richest person in the world, with a net worth of $342 billion. New billionaires have emerged, such as Samir Mane in Albania and Eduardo Hochschild in Peru. However, countries like Bangladesh, Panama, and Uruguay no longer have any billionaires.

The Meteorological Department has issued a yellow warning for heavy storms and hail, effective from noon until the afternoon. The storms are expected to mainly affect mountainous and inland areas. Rainfall is anticipated to range from 35 to 55 millimeters per hour. The weather is expected to improve late in the afternoon, with milder conditions over the next 24 hours.

President Christodoulides is receiving ongoing letters from various political parties regarding current political issues. The discussions surrounding these letters have gained particular significance, with several politicians requesting meetings with him. Phidias Panayiotou announced that he will meet with the President and invites citizens to participate in preparing for the meeting. This reflects the need for a more open dialogue between politicians and the government.

The parliamentary health committee meeting focused on the issues facing public doctors, particularly in the operation of the Famagusta hospital. There were mentions of resignations and severe staff shortages, with lawmakers demanding responses from the Health Services Organization. The proposals from the Pancyprian Federation of Government Doctors included measures for hospital staffing and addressing legal issues. Doctors expressed concerns about the organization and functioning of state hospitals.

The government secured 70 million euros for the completion of the gas terminal in Vasilikos, but the amount is insufficient to cover the total project cost. There has been no clear government indication regarding the final expense, and upcoming spending includes construction works and legal obligations. The budget was unanimously approved in Parliament, but there was significant debate among MPs about the procedures for completing the project.

The Cypriot government will have up to 15 aircraft available for firefighting during the hot period of 2025. The plan has been finalized based on predictions for the current season. Of the 15 aircraft and helicopters, 11 are already secured, while the remaining four will be available under certain conditions. Agreements have been made with other countries to support firefighting efforts for a quicker response to incidents.

Relatives of a cyclist who was injured in a traffic accident in August 2022 have been waiting up to 18 months for the Police report concerning his death. The Commissioner for Administration found delays and inadequate updates from the Police, preventing legal action. Despite repeated requests, the police report has not been received. The delay is attributed to the cyclist's health progression.

The Parliament is working to alleviate the struggles of patients who currently travel abroad for allogeneic bone marrow transplants. A new proposed law aims to allow these transplants to be performed in Cyprus, addressing a significant gap in the healthcare sector. Annually, around 30 patients are forced to go abroad, causing considerable distress for their families. With the approval of this legislation, conditions for patients needing this procedure are expected to improve.

The tariffs imposed by the Trump administration are causing concerns about their impact on global trade. In Cyprus, authorities feel reassured since exports to the U.S. are limited. Nonetheless, there is anxiety about potential effects on future trade relations. The EU is preparing to respond with countermeasures to the American actions.