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London’s Financial Sector Sees 17% Drop in Job Vacancies

Job vacancies in London’s financial services sector dropped by 17% in the third quarter of 2024 compared to the same period in 2023. This decline is largely attributed to inflation, global economic challenges, and post-Brexit adjustments in Britain.

Mark Astbury, Associate Director at Morgan McKinley, explained that companies are becoming increasingly cautious and focusing more on strategic hires rather than aggressive recruitment.

However, the City of London saw a 7% rise in job vacancies from the previous quarter, driven by growing demand for professionals in regulatory compliance, digital transformation, and ESG (environmental, social, and governance) projects. This surge highlights the specialized roles companies continue to seek despite broader market slowdowns.

The lingering impact of Brexit continues to affect London’s financial center, with the loss of around 40,000 jobs, a figure recently confirmed by the Lord Mayor of the City of London.

Call for Reform: Cyprus Faces New Challenges with Emerging Tobacco Products

In the face of a burgeoning variety of tobacco products, existing smoking laws in Cyprus are struggling to keep pace, as highlighted by Christos Minas, the president of the Cyprus National Addictions Authority (AAEK). On World No-Tobacco Day, there was a push for legislative reforms to comprehensively cover all tobacco forms, including non-nicotine alternatives.

Addressing Rising Trends with Effective Policies

Minas emphasized the surge in popularity of e-cigarettes and flavored products, particularly among the youth. The proposed legal updates aim to enhance enforcement efficiency against these emerging trends.

In collaboration with the World Health Organization’s (WHO) framework, the AAEK has established the first set of national guidelines for smoking cessation in Cyprus, crafting prevention and treatment strategies based on robust scientific evidence.

Educating Youth and Public Awareness Initiatives

Efforts are underway to raise awareness, with informative materials distributed to secondary schools across Cyprus. A public event in Nicosia highlighted the state’s ongoing commitment, providing carbon monoxide testing and expert advice on new tobacco products.

Recent data from the Cyprus general population survey 2023 indicates that 38% of smokers have used e-cigarettes recently, and the smoking initiation age remains at 18.

A Glimpse into Youth Smoking Patterns

According to the latest European school survey, 14% of Cypriot students aged 15-16 reported smoking traditional cigarettes last month. Although this rate is declining, Cyprus still ranks high in Europe for e-cigarette and hookah use among students.

The concern is global, with WHO reports showing over 37 million children aged 13-15 engage in tobacco use, driven by aggressive marketing in loosely regulated environments.

The urgency for reform is clear: before these trends solidify, proactive measures are necessary to protect future generations from potentially hazardous habits.

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