The Cabinet has approved a bill which amends the income tax law for existing tax exemption for investments in small to medium innovation companies and extends to cover corporate investors. According to the Ministry of Finance, the bill is included in the commitments of the National Recovery and Resilience Plan, which aims to provide tax
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By Lukman Otunuga, Senior Research Analyst at FXTM A sense of normalcy seems to be returning to financial markets after the brutal selloff in shares last week. Asian stocks rebounded on Tuesday following the positive cues from European markets overnight, while U.S futures moved higher after their markets were closed for a holiday. While the
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Justice Minister Stephi Dracos has decided to suspend the senior police officer accused of trying to blackmail the prison governor with a compromising video. After prison boss Anna Aristotelous made a formal complaint, the minister said Tuesday she decided to suspend the unnamed police officer. In the statement, she said the person was informed of
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A first visit to the island by royal couple Prince Edward and Sophie underscores the evolving and improved relations between Britain and its former colony Cyprus, President Nicos Anastasiades said Tuesday. During their three-day visit, Cypriot President Nicos Anastasiades and First Lady Andri Anastasiades welcomed the Earl of Wessex Prince Edward and Countess of Wessex
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The highest pump price for Diesel reached a record €1.999 per litre in Cyprus on Tuesday, according to the Consumer Protection Service’s Fuel Retail Price Observatory. On average, diesel costs €1.914 per litre, while at the cheapest petrol station it can be found at €1.808. Unleaded petrol 95 octane averages €1.806 at the pumps. The
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Investors risk losing a significant amount of capital if they stick to the time-honored 60/40 investment strategy, with these portfolios performing worse than before, warned the CEO of a leading independent financial advisory and fintech. The ‘balanced’ strategy of allocating 60% to equities and 40% to fixed income has dropped about 14% so far this
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By Craig Erlam European stocks are making steady gains on Monday, recovering a small portion of last week’s heavy losses as economic concerns mounted. There’s been a shift in the market mindset over the last week and a half that has weighed heavily on risk assets. The prospect of a recession is being considered far
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The European Medicines Agency (EMA) has started a rolling review for a Spikevax (Moderna) vaccine adapted to provide better protection against specific variants of SARS-CoV-2. The Ministry of Health said the review concerns a bivalent vaccine, meaning it will target two strains of SARS-CoV-2, the original strain and the Omicron variant of concern. The review
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Interior Minister Nicos Nouris and the International Organisation for Migration’s Regional Director, Ola Henrikson, discussed ways to enhance and increase financial cooperation between the two parties to return irregular migrants. During his first visit to Cyprus, Henrikson conveyed IOM’s intention to enhance cooperation with Nicosia, while Nouris said he was looking forward to increased cooperation, particularly for
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Transport Minister Yiannis Karousos is chairing a meeting on road accidents Monday, following a spike in deaths in recent days, as eight people lost their lives on Cyprus’ roads in the first three weeks of June. June has recorded 35% of all road deaths this year – mostly involving motorbikes. French tourist Karim Mezdari, 37,
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