Cyprus And Hong Kong Sign Double Taxation Agreement

Cyprus and the Hong Kong Special Administrative Region of the People’s Republic of China have signed a double taxation agreement to eliminate double taxation on income and strengthen efforts to combat tax evasion and avoidance. Signed on June 12, 2026, in Hong Kong, the agreement was formalized by Cyprus Ambassador Koula Sofianou, accompanied by Acting Consul Harindarpal Singh Banga, and Hong Kong Secretary for Financial Services and the Treasury Christopher Hui.

Modern Tax Collaboration Framework

According to Cyprus’ Ministry of Finance, the agreement establishes a framework for tax cooperation intended to facilitate business activity and support investment and trade between the two jurisdictions. Clear rules governing cross-border transactions are expected to reduce the tax burden on businesses and individuals while limiting opportunities for tax evasion and avoidance.

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Provisions included in the treaty also provide for the exchange of tax information and establish procedures for resolving tax disputes, offering greater certainty to investors and companies operating in both markets.

Enhancing Economic Alliances

Efforts to strengthen economic and financial relations are reflected in the new agreement between the two jurisdictions. Recognized as one of the world’s leading financial centres, Hong Kong plays an important role in international trade and investment. Closer commercial ties and expanded opportunities for businesses operating across both markets are among the expected benefits of the treaty. Broader international efforts to promote tax transparency and strengthen cooperation between tax authorities also form part of the agreement’s objectives.

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Mirendil Signs $100 Million Google Cloud Deal To Advance Self-Improving AI

by News Editor

August 6, 2026

AI startup Mirendil has signed a multi-year agreement worth more than $100 million with Google Cloud to secure computing infrastructure for its self-improving AI research.

The partnership reflects growing competition among AI companies to lock in access to high-performance computing, while cloud providers race to attract promising startups developing next-generation AI models.

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Backing The Next Stage Of AI Research

Mirendil plans to use Google’s Tensor Processing Units (TPUs), Nvidia GPUs and managed training infrastructure to develop AI systems capable of improving their own performance over time.

Known as recursive self-improvement, the concept focuses on building AI that can refine its knowledge and capabilities with minimal human intervention. The technology is attracting growing interest across the industry, with several startups and leading AI labs exploring similar approaches.

According to co-founder and Chief Executive Behnam Neyshabur, the long-term goal is to develop AI that can automate scientific research and accelerate discoveries in fields such as medicine, biology and materials science.

Compute Capacity Becomes A Strategic Asset

Training increasingly advanced AI models requires enormous computing resources, making long-term infrastructure agreements a critical competitive advantage.

Mirendil said Google’s combination of TPUs and GPUs allows workloads to be matched with the most suitable hardware, improving efficiency while reducing costs for customers.

For Google Cloud, the agreement strengthens its position in the race to provide infrastructure for frontier AI developers, while giving the company exposure to one of the industry’s emerging approaches to next-generation artificial intelligence.

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