The proceedings against the Republic of Cyprus are based on the 1998 Reciprocal Promotion and Protection of Investments Treaty, an international arbitration treaty between the Republic of Cyprus and the state of Israel, of which Afik is a citizen. 

NICOSIA, Cyprus, April 2, 2025 /PRNewswire/ — Afik is seeking hundreds of millions euros in damages from Cyprus for the breach of its obligations under the treaty, resulting in lost sales, impairment to existing property inventory, damage to his reputation, and millions of euros in legal expenses.

In addition, Afik and his father, Mr. Shimon Aykout, are seeking millions in compensation for the wrongful and ongoing incarceration of Mr. Aykout, a 75-year-old cancer patient, held without trial for nine months in general population prison on criminal charges alleging he illegally traded in land once belonging to Greek Cypriot refugees who fled the Turkish side of Cyprus 50 years ago, when Turkey invaded the Island.

In his claims against Cyprus, Afik is relying on the expert legal opinion of Cambridge Professor Eyal Benvenisti, submitted to the European Court for Human Rights.  Link: https://www.berkman.co.il/benbenishti

Ron Berkman, lead council for Jack Afik said “This is a landmark case, potentially opening the door for thousands to sue Cypress for billions of euro in damages to their property investments and the economy of Northern Cypress.”

Afik is represented by Gherson Solicitors LLP from 19 Harcourt Street London and Ron Berkman.

Contact
Ron Berkman +972506963000
Ronib@berkman.co.il

Jack Afik
Jack@afikgroup.com
+905488673972

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GHENT, Belgium, April 2, 2025 /PRNewswire/ — Fashion tech startup Markmi has raised €1.1 million in seed funding to accelerate the rollout of its AI-driven markdown assistant across Belgium, the Netherlands, the Nordics, and the U.S. later this year.

Fashion retailers are under growing pressure to protect margins in a market shaped by shifting consumer behavior and rising costs. When it comes to markdowns—whether during mid-season sales, end-of-season clearances, or events like Black Friday—they can’t afford to leave money on the table. Yet many still rely on spreadsheets and gut feeling, leading to missed revenue & margin.

Markmi replaces these outdated methods with a smart, fast, and fashion-specific AI assistant. It empowers merchandising teams to make data-driven pricing decisions that increase sell-through and profitability. Customers including C&A, G-Star, Zizzi, ZEB, and Torfs have already seen 5–10% revenue growth and 2–5% margin improvements during markdown periods.

“Markdowns are one of the biggest cost lines in a fashion retailer’s P&L,” said Markus Krenn, VP & Head of Commercial Planning Europe at C&A. “Markmi has significantly reduced this cost for us.”

Founded by Laurent Mainil, whose family has deep roots in the Belgian fashion industry, Markmi emerged from firsthand experience during the pandemic, helping retailers manage inventory and hit revenue targets under pressure.

Markmi analyzes multiple scenarios in minutes, providing clear price recommendations that show the impact of different discount levels on sales, margin, and inventory. For instance, at G-Star EU, the tool ran 14.5 million calculations for its inventory in 5 days, enabling teams to select the most profitable strategy, in the blink of an eye.

The round includes backing from fashion and tech investors such as Wolf (Luc Van Mol, ex-ZEB), the Torfs family, and tech veterans Lorenz Bogaert, Matthias Geeroms, Jan Teerlinck, Roeland Delrue, Jonas Deprez, and PMV.

Looking ahead, Markmi plans to evolve into a full AI-powered pricing platform for fashion retail, expanding into areas like full-price optimization and promo management.

“Retailers worldwide face the same challenge: setting the right price at the right time,” said Mainil. “With AI, it’s no longer a guessing game; it’s a strategic advantage.”

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About Markmi
Markmi is the AI-powered markdown assistant for fashion retail. It helps fashion teams make faster, smarter, and more profitable markdown decisions.

markmi.ai

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SAO PAULO , April 1, 2025 /PRNewswire/ — The China-Brazil Economic and Commercial Forum took place in São Paulo, Brazil, on March 28, bringing together high-profile government officials and business leaders from both countries. Keynote speakers included Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT); Luiz Augusto de Castro Neves, President of the Brazil-China Business Council; and Yu Peng, Consul General of China in São Paulo.

In his address, Ren Hongbin highlighted the enduring partnership between China and Brazil, emphasizing CCPIT’s commitment to expanding economic collaboration under the Belt and Road Initiative (BRI). Leading a delegation of Chinese entrepreneurs, Ren engaged in high-level talks with Brazilian Vice President Geraldo Alckmin, exploring new opportunities in industrial integration, supply chain resilience, and multilateral innovation. China reiterated its support for Brazil’s 2024 BRICS presidency and the mutual goal of a “Golden 50 Years” of robust bilateral cooperation and solidarity among Global South nations.

Brazilian participants emphasized the resilience and complementary strengths of economic ties between the two nations in the face of global challenges, including rising protectionism, climate change transitions, and technological disruptions. Key opportunities were identified in green energy, high-value industries, and integrated supply chains, with calls for businesses to leverage platforms like the China International Supply Chain Expo (CISCE) to advance sustainable growth.

Co-organized by CCPIT and the Brazil-China Business Council, the forum attracted over 100 delegates from trade agencies, chambers, and companies, culminating in on-site agreements worth over US$2 billion spanning agriculture, mining, and CISCE participation.

During the visit, Ren Hongbin headed a delegation of over 40 companies, representing key sectors, including agriculture, food processing, finance, infrastructure, energy, telecommunications, and healthcare. The delegation engaged in strategic talks with Brazilian government and business leaders while touring local companies to identify and pursue collaborative opportunities.

For more information, please visit https://en.cisce.org.cn/

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View original content:https://www.prnewswire.co.uk/news-releases/china-brazil-economic-and-trade-forum-convenes-in-sao-paulo-strengthening-bilateral-ties-302417804.html