Germany and Cyprus signed Thursday a cooperation agreement for the evacuation of German citizens in case of crisis or natural disasters in Cyprus` geographic area. The agreement was signed by Minister of State of the German Federal Ministry of Foreign Affairs Michael Roth and Permanent Secretary of the Foreign Ministry of Cyprus Alexandros Zenon. “This
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One after the other, trade unions called off their strikes planned for Friday after the government backed out of a plan to tax the retirement bonus for civil servants, a privilege that could range between 100,000 and 500,000 and goes beyond other pension benefits. The decision followed a mediation effort hosted by President Anastasiades, where
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Crew take off in traditional Bavarian costume With just few days to go until the start of the Oktoberfest in Munich, the designated Lufthansa crew members dressed in traditional folk costume are ready for take-off. The special “Oktoberfest crew” on board will depart for São Paulo on 24 September and for Mexico City on 4
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President Nicos Anastasiades inaugurated the Minthis Hills Golf Resort on Wednesday, saying the €600 mln project in Tsada is the cornerstone of development. The President praised Elias Eliades, CEO of the Pafilia Group that owns the project, saying that “this important project for Paphos proves the dynamism of Cypriot entrepreneurs.” “Projects of this magnitude and
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Communications and Works Minister Marios Demetriades took part in the EU Informal Transport Ministerial Council in Milan this week where he secured project finance for transport worth €50 mln over the next six years. The project is part of the Trans-European Transport Network (TEN-T) funded by the “Connecting Europe Facility” comprising nine corridors. Cyprus has
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Bank of Cyprus has agreed to sell its ex-Laiki portfolio of residential and commercial real estate-backed loans in the UK, known as ‘Project Avenue’ and worth £289 mln (€361 mln) to mortgage managers Mars Capital Finance and to Camael Mortgages. The sale and transfer is expected to be completed by October 31. The bank said
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By Jeffrey D. Sachs Though the world’s eyes now are on Scotland’s referendum on independence from the United Kingdom, Scotland is not alone in seeking to redraw national boundaries. There are independence movements in many other parts of the world; indeed, 39 new states have joined the United Nations since 1980. Many more aspirants are
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By Anatole Kaletsky GavekalDragonomics The outcome of the Scottish referendum is officially “too close to call”, since the difference between ‘Yes’ and ‘No’ has been inside the margin of error of almost all the polls published since the sudden swing towards independence last weekend. But markets are priced for near certainty of the status quo
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By Fergus J. McCormick and Giacomo Barisone DBRS Sovereign Ratings Group There has been much speculation on the implications of a “Yes” vote in the referendum whether Scotland should gain independence from the United Kingdom. Many commentators see the near term consequences of a “Yes” vote as dire for Scotland, crippling for the remaining UK,
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The report includes significant developments recorded in Cyprus corporate tax system PwC has published 'Worldwide Tax Summaries – Corporate Taxes 2014/15,' its latest compendium of worldwide corporate tax rates and rules. The guide features over 150 country summaries, written by local PwC firm tax specialists, including recent changes in tax legislation. The guide includes key
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