JCC Payment Systems (JCC), the bank owned credit card clearing monopoly was charged CYP 373.374.49 by the Price Competition Commission for abusing its dominant position in the market and for overcharging its clients. George Christofides, Chairman of the Competition Commission said that JCC, which had been under investigation for overcharging and reaping excessive profits to
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Preparing roadmap to a solution The Turkish Cypriot Businessman’s Association (ISAD) has made a number of radical proposals as part of a “roadmap for a solution to the Cyprus Problem”, including allowing some Greek Cypriots to return to their properties and the de facto handover of control to the Turkish Cypriot civil authorities. In a
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The European Commission is expected to include the shipping industry in the carbon dioxide (CO2) emissions trading scheme later this decade, along with other industries. In a speech to the Conference of National Parliaments of the EU and the European Parliament in London on Monday, Commissioner for Environment Stavros Dimas said that from 2012 the
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The British Presidency of the referred the two stalled EU regulations for financial assistance to Turkish Cypriots and direct trade to a working group of the Council and the Committee of the Permanent Representatives on Monday. The two regulations, designed essentially to reward Turkish Cypriot for voting in favour of reunification of the divided island,
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A. Zorbas & Sons Public Co. Ltd. (ZRP) reported a 7.8% decline in net profit for the first nine months of the year, with results burdened by a sharp increase in labour and energy costs. Total turnover increased by 16% year-on-year to CYP 22.1 mln from CYP 19.01 mln a year ago on the back
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Vassiliko Cement Works Public Co. Ltd. is at an advanced stage of deliberations paving the way for a massive investment in new technology and production lines, aiming to boost productivity, cut staff costs and become a more environmental friendly producer. Andreas Panayiotou, Executive Chairman of Vassiliko told an investor presentation at the CSE that the
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