Cypriot MPs made a U-turn over a compromise on reduced VAT for smaller first homes, backed by the European Commission. MPs increased the total area of the home entitled to reduced VAT of 5% from 19%. After Monday’s session of the Finance Committee behind closed doors, the initial deal of 150 square metres has gone
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Recognising the importance of the Cyprus Cancer Research Institute (CCRI), the government will give its support to develop a national network of excellence, said President Nikos Christodoulides. He inaugurated the CCRI “Nicola David-Pinedo” building at the University of Cyprus Campus in Nicosia. The Institute, he said, will be a “beacon” for the country but also
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A bill regulating a new digital platform for monitoring retail prices, known as the e-basket, was discussed at the House Commerce Committee on Tuesday. The new digital platform aims to support the Consumer Protection Agency’s efforts in monitoring the market and protecting shoppers by offering real-time information on the price of some 350 products at
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By Jameel Ahmad, Chief Analyst at CompareBroker.io From an economic data perspective, the main focus on Tuesday is the flash PMI readings from across Europe. The looming shadow in the background is the cautious sentiment encouraged by the ongoing standoff in Washington when it comes to the debt ceiling talks. There may very well be
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DBRS Morningstar Analysis The New Democracy Party (ND), led by Prime Minister Kyriakos Mitsotakis, won 146 out of 300 seats in Greece’s general election on Sunday. This is five seats short of an overall majority. New Democracy won 40.8% (146 seats), Syriza 20.1% (71 seats), PASOK 11.5% (41 seats), the Communist Party of Greece (KKE)
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Stock markets could experience a rally this week as investors look for clues on the US Federal Reserve’s policy path on interest rates, but caution is still required, said the CEO of financial advisory and fintech deVere Group. Nigel Green’s bullish comments came ahead of the release of the Federal Open Market Committee (FOMC) May
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Interior Minister Constantinos Ioannou laid out the country’s roadmap for dealing with increased migrant flows in a meeting with senior EU official Margaritis Schinas on Monday. Ioannou said he had the opportunity to discuss the government’s policies on migration with the EU Commissioner. “I would like to thank him for the particular interest he shows
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According to reports, Brussels would greenlight a compromise on reduced VAT for first homes, tabled by Cypriot MPs under pressure to beat the 8 June deadline of introducing legislation to harmonise Cyprus law. Phileleftheros daily report said the European Commission had approved a consensus proposal tabled by the House’s Finance Committee and invited it to
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By Jameel Ahmad, Chief Analyst at CompareBroker.io Expect the last full trading week of May to be dominated by nothing but US debt ceiling updates. This is the drum that I would expect financial market sentiment to beat throughout the week, especially as we edge nervously closer to the June 1 deadline where Washington might
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Despite having a long life expectancy, Cypriots live the last 20 years of their lives suffering a series of health problems, according to the findings of a PwC Luxembourg survey. The Cyprus Patients Organisations Federation (OSAK) presented the survey at a scientific conference. PwC Luxembourg partner Guy Brandenburger said: “Cypriots live a health-problem-free life up
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