A draft proposal submitted by DIKO MP Nicos Pittokopitis to abolish the road tax for motorised vehicles and instead add three cents per litre to fuel prices will most likely favour retired persons with large capacity cars who seldom use them at the expense of the young, who are more mobile. If the bill is

Pandora Investment Co., a member of the Leptos Group of Companies has defended its intention to build a multi-million pound project in the Neapolis area of Paphos, even though it has come under a barrage of criticism for massive land exploitation and serious irregularities to serve its interests. In an official statement, Pandora Investments, which

More signs that the Bank of Japan could raise rates over the coming months came on Monday when one of the bank’s board members, Atsushi Mizuno, said that monetary policy should monitor the risk of overheating in asset prices (ie, not just consumer price inflation). Japan’s bubble burst at the beginning of the 1990s after

An expert panel from the Community Reference Laboratory in Weybridge has informed the European Commission that test results from the brains of two sheep from France and one from Cyprus show an unusual molecular profile that warrants further investigation, and while some data suggest that the samples may not be BSE in sheep, “there is

CCC Holdings & Investments Pcl (CCCH) announced that its public takeover bid seeking to acquire the 100% share capital of K&G Complex Pcl at a cash consideration of 10 cent per K&G share has been successful. CCCH said that it has now purchased a further 24.23% of the share capital of K&G through the public

The unemployment rate in February 2006 increased to 4.3% of the labour force, unchanged compared to January 2006, the Statistical Service announced. In absolute terms, the average number of unemployed persons for February 2006 reached 15,294 persons, 56 persons more than the number registered in January 2006. In comparison with February 2005, a decrease of

Bank of Cyprus shares staged a well anticipated rebound on the CSE on Thursday after the sell-off of Wednesday spread panic in the market as equity prices were knocked 10% lower. BOC shares closed 9.3% higher on the CSE at CYP 3.75 on CYP 3.62 mln volume recovering most of the Wednesday losses following the