. Corporate tax, and in general the "benevolent" tax regime of Cyprus, has been one of our comparative advantages as a country for several decades. Because of this system an important sector of the economy, that of services, was created which for several years has helped to create thousands of jobs but also
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Turkey’s Fatih drillship will resume illegal drilling operations at a new location in Cyprus waters in the coming weeks after resupplying and repairs. The ship, which left its location West of Cyprus last week, is currently in the southern Turkish province of Mersin for refuelling and maintenance. Turkish Energy Minister Fatih Donmez said: “The Fatih
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Peyia, is enjoying its 15 minutes of global fame, after Colombian pop star Shakira bought a luxury villa in an exclusive region of Cyprus. The world-famous singer visited Paphos a few months ago with Peyia Mayor Marinos Lambrou saying that Shakira has made a substantial investment. Excited about the move, Lambrou told Cyprus Times that
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Cyprus’ cabinet on Wednesday decided to revoke 26 passports granted to investors under its much-criticised Citizenship for Investment scheme. After a four-hour meeting, the cabinet decided to strip 26 investors of their Cypriot citizenship as they were found to violate the required criteria, said Interior Minister Constantinos Petrides on Wednesday. Petrides said that procedures for
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Cyprus credit card transactions in October increased by 4%, reflecting stable consumer confidence while online payments to the state did not play a significant role in the rise. According to the latest JCC data, the value of Cyprus credit card spending in the domestic market increased by 4% in October to €282 mln compared to
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The European Stability Mechanism (ESM) will begin its assessment of Cyprus’ intention to repay the remainder of its 2013 bailout to the International Monetary Fund of over €700 mln, its Managing Director Klaus Regling said. In its 2020 budget Cyprus has included provisions to repay the remainder of the loan it secured from the IMF
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Defence Ministers of Cyprus, Greece and Egypt said they have entered a new era of geostrategic cooperation as the emergence of new security threats in the region requires their joint threat assessment. This was the message in a joint statement after an Athens summit issued by Greek National Defence Minister Nikolaos Panagiotopoulos, Cyprus Defence Minister
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By Han Tan, Market Analyst at FXTM The Dollar index (DXY) has gained 0.7% so far this week, briefly breaching the 98.0 psychological mark before easing from its highest levels in nearly three weeks. The DXY continues to demonstrate its resilience against its major peers, strengthening against all G10 currencies, and has erased its losses
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Moody's Investors Service has downgraded the Government of Lebanon's issuer ratings by a notch from Caa1 to Caa2 and remain on review for downgrade since the country’s economic, social and political crisis has further intensified from the start of October. The rating agency said that the downgrade “reflects the increased likelihood of a debt rescheduling
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Eni and Total were not scared off from block 7 due to Turkish threats but decided there were more interesting and mature targets to tackle first, said Cyprus Energy Minister Yiorgos Lakkotrypis. The Minister was responding to reports the consortium of energy companies Italy’s Eni and France’s Total were withdrawing from block 7 of Cyprus’
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