Ukraine lawmakers rejected a proposed bill tabled by the Ukrainian government seeking to amend the Ukraine-Cyprus tax treaty, and instead called on their government to go back to the negotiating table to find a compromise to sort the issue. Informed sources who are closely following the deliberations told the Financial Mirror that the majority of
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Hellenic Bank Pcl (HB.CY) is not ruling out takeovers in Greece or in Russia to accelerate its expansion drive overseas with HB CEO Makis Keravnos revealing that the Bank considered two small banks in Russia for acquisition, but turned down the offers since the candidates did not meet its criteria. “There are a number of
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Former Finance Minister Makis Keravnos slammed the government over its handling of the alarming increase in the inflation rate, calling for effective measures to put an end to the rapid increase in prices. “The business community is concerned at the high inflation rate, but alarmed at the lack of effective measures undertaken by the government
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European Union Ministers for Employment and Social Affairs, at their meeting in Luxembourg, have agreed on two Directives of the utmost importance for European workers as they govern the aspects of working time and the rights of temporary agency workers. The deal on the 'Working Time Directive' limits workers to a weekly maximum of 48
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The shipping industry can be described as a successful example of foreign investment in Cyprus and a tool which attracts foreign investment and funds to the country, since the sector has proved its longstanding success, Cyprus Shipping Chamber GS Thomas Kazakos told CNA in an interview. Currently, 80% of Cyprus’ shipping industry belongs to non-Cypriot
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Trokkoudes & Kyros Public Co. Ltd., the new entrant on the Cyprus Stock Exchange made its trading debut in the Alternative Market with a 194% gain compared to its IPO/issue price of EUR 0.17 per share. Compared to the opening price of EUR 0.40 per share, the percentage day on the first day of trading
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Oil prices are likely to hit $150 a barrel this summer season, the global head of commodities research at Goldman Sachs said on Monday, as tighter supplies outweigh weakening demand. "I would suggest that the likelihood of that happening sooner has increased tremendously … sometime in summer," Jeffrey Currie told an oil and gas conference
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Major base prices up sharply Commodities have been in a strong bull run since 2002 with all the major base metal prices up considerably over the period as illustrated below : Copper +375% Lead +260% Nickel +135% Zinc +131% Aluminum +115% Demand from emerging markets such as the BRIC countries of Brazil, Russia, India and
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The number of residents of Cyprus travelling abroad in April reached 91,675, marking a rise of 15.2% on the same period of 2007. The most popular destination was Greece, with 37,284 visits in April, followed by the UK, with 15,703, and Russia, with 3,265. Visits to fellow eurozone member Greece rose by 37.8% compared with
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The Supreme Court of Cyprus did not reach a final verdict on whether or not the decision of the Governor of the Central Bank, Athanasios Orphanides to strip Aspis Holdings – Commercial Value of their voting rights in Universal Bank Pcl (USB.CY) is justified or not, with a final decision expected soon. Commercial Value and
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