Micro News

A spokesperson has released a statement Hellenic Banks mentioning that current regulatory requirements for banks within in the EU are excessively harsh; which discourages investment into the local economy and the consolidation of the banking sector in Cyprus. Mr Ioannis Matsis is the banks’ Executive…


This week, the Cyprus Minister of Justice together with the Supreme Court made plans to establish a new commercial court as part of a scheme to modernise the legal and justice system in Cyprus.  In a published statement, the Minister stated the court would have precedence over contract claims or business…


Last week the Singapore Ministry of Education announced that 28 schools will be merged by 2019, in the latest response to the decreasing number of students.  A decision that has been painful but necessary the Minister of Education, Mr Ng Chee Meng has regretfully stated. The Minister added that he personally…


In light of the Cyprus–India Business Forum that was recently held in Mumbai; President Anastasiades attended in an attempt to encourage Indian investors to look to Cyprus as a potential jurisdiction to start new projects. The forum has been planned for quite some time, and organised chiefly by the Cyprus…


The Cyprus House commerce committee discussed the submission of important bills regarding EU Intellectual Property legislation, a requirement that Cyprus must comply with before June this year or face a fine. The new bill will clarify who can receive copyright payments and how much they are entitled…


Not enough is being done to deal with the growing problem of children from multi-cultured parents being abducted and taken abroad, a report from the Cyprus Human Rights Committee has shown. Last year 29 children were illegally taken to Middle Eastern countries via crossing the border to northern Cyprus…


The tourism and hospitality industry in Cyprus has had a consecutive 2 year profit increase, however according to statistics, has done little to repay its outstanding €1B in NPLs (non-performing loans). In December last year, hotel and restaurants reduced their non-performing loans by a mere €324m over…


According to the Inland Revenue Authority of Singapore (IRAS), for the second consecutive year there were a record number of filled tax returns – 96%. Almost all returns were filed electronically (97%). The number of declarations filling through various gadgets, smartphones and tablets also increased.…


The President of Cyprus assured Russian businesses that they could count on support in the face of adversity by the Cypriot Government. In addition, the President is ready to start taking real actions: in particular, to the signing by the parties of an agreement on avoidance of double taxation with respect…



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