The fiscal deficit was reduced by €198 mln in the second quarter of the year compared with the same period of 2013, mainly as a result of a significant decrease in civil servants’ numbers and payroll and a decrease of social benefits. According to data released by the Statistical Service Cystat, on the basis of
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Cyprus ranks among the three countries in Europe that saw the rate of self-employed people rise by at least 12% between the first quarters of 2013 and 2014. According to a report by the British Institute for Public Policy Research (IPPR), the number of people working for themselves in Cyprus increased by 12% over the
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More than 20,000 applications have been received so far for the guaranteed minimum income (GMI) benefit to needy and low-income families, Labour Minister Zeta Emilianidou told the Cyprus News Agency, adding that the allowance will be disbursed by the end of September to those who have submitted their application in time. Emilianidou added that the
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Israel’s Delek Group announced that its gas subsidiaries have accepted a request from the Cyprus state gas distributor DEFA to postpone the period of validity of the proposal and acceptance in its terms of a binding agreement for the supply of natural gas, from August 15 to November 30. DEFA launched on January 25 an
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Demand for electricity supply this July was approximately at the same levels as last year, the Director of the Transmission System Operator (TSO) Dr. Christos Christodoulides told the Cyprus News Agency, adding that this year the daily average demand stood at 858MW and the year before at 837MW. In 2012 the maximum demand was 1,000
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. By Oren Laurent President, Banc De Binary On Sunday, Turkey was tasked for the first time with electing its President. Recep Tayyip Erdogan, barred from standing as Prime Minister for a fourth time, won with a distinct 52% of the vote. Somewhat controversially, he amended the constitution after a referendum in 2007 stating that
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. Marcuard's Market update by GaveKal Dragonomics As the second quarter US earnings season winds up, the dominant picture is of stronger sales and faster earnings growth. That’s handy. In the early stages of this five year bull market, it was central bank liquidity that pushed equity prices higher. Then over the last two years,
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. There is always a list of excuses for not doing something in Cyprus; some may have merit, others not. The point is that the reflex is always to keep the status quo, on which the ‘nice little earner’ corrupt practices depend. Apart from all this, what is far more worrying is the way the
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* MPs drag their feet – DIKO may have change of heart with foreclosures bill * A delay in passing the controversial foreclosures bill in parliament could delay or even cancel payment by the Troika of international lenders next month of the sixth tranche of the island’s bailout money, estimated at EUR 453 mln. Finance
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Russia’s embrago on EU food products is expected to have both a direct and an indirect impact on the economy, Nelly Koulia, the Trade Service Director said on Tuesday, following a technical meeting in Nicosia. According to Koulia, the total value of exports to Russia in 2013 was 13 mln euros, of which around 11
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