Micro News

Starting from 2018, the Malay government has decided to withdraw its participation in the Formula 1 Grand Prix. The government of Malaysia is stating that hosting Formula 1 races brings the country more troubles than benefits. Going forward, Singapore will remain as the only country in South East Asia…


Coin Centre, an advocacy group applied to list the digital currency Bitcoin on a new exchange platform prototype similar to the traditional stock market; however the Securities & Exchange Commission have denied the request.The advocacy group wish to develop well-capitalised and regulated markets within…


A start-up schemeaimed at attracting foreign investment to Cyprus from non-EU countries was approved by the cabinet. Vice President Constantinos Petrides said the scheme is aimed at investors who wish to found an innovative business in Cyprus.  The plan is to allow Entrepreneurs to set up their headquarters…


The Cyprus Security and Exchange Commission aims to further boost the Cypriot capital market and its general supervision of the sector. Cysec has seen companies under its supervision rise almost double from 315 in 2011 to 610 in 2016. Cysec’s vision is to solidify the Cypriot capital market as one of…


Following protests, Bank of Cyprus has suspended an eviction order of a woman in Limassol, who owed debts totalling €80,000. The Bank of Cyprus was planning to sell the property (worth €300,000) in order to recover these debts. The movement against foreclosures stated that the move is unacceptable,…


After a record 2016, Tourism Minister Giorgos Lakkotrypis expects even more positive results this year for Cyprus. There were half a million more visitors to the island last year, reaching a total of 3.3 million plus a 12% rise in revenue to €2.4bn. There is also an incentives plan in place to help…


President Putin has sent a message to President Nicos Anastasiades stressing Russia’s will for further enhancing mutually beneficial trade and economic cooperation between the two countries. He stressed the importance of further developing the mutually beneficial trade and economic cooperation between…


India's government has launched an enforcement drive against shell companies, including the freezing of their bank accounts and striking seemingly dormant companies from the Register. The government believes that large quantities of cash were deposited in shell companies during November and December…



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