Micro News

A survey has revealed that over a third of UK employers have voiced concerns that their EU migrant workforce are considering leaving the country in 2017 in light of the referendum last year. The CIPD said official data showed firms who rely profoundly on members of other EU countries were struggling…


Lebanon owned Bank of Piraeus has appointed a new Board of Directors for its Cyprus branch. Mr Sehnaoui SAL recently acquired an 82% shareholding; while Mr Shadi Karam will be the Chairman of its new Board of Directors. The appointment of the new board follows a €40m capital increase carried out by the…


Total tourist arrivals in Cyprus rose by 29% compared to similar periods last year, with the majority coming from Russia, the latest statistics have revealed. Arrivals from the UK, conventionally Cyprus’s largest market of incoming tourism, rose by a mere 20% this year, compared to Russia, whose visitors…


The Cypriot ambassador has spoken out about his support for the involvement of Russian companies in the Cyprus energy market. The island is reliant on fossil fuel imports to meet its growing electricity requirements, and currently spends over 8% of its GDP to cover the cost. Until the recent meetings,…


US: Tax reform measures put on hold

Tax reform legislation will be included in Congress's 'must pass' fiscal 2018 budget resolution later this year, rather than in the proposed earlier fiscal 2017 resolution, said Mr Paul Ryan, speaker of the House of Representatives on February 10th. The Affordable Care Act repeal legislation will be…


The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill, which introduces trust reform measures, was passed by the New Zealand parliament on 14 February 2017 and now awaits royal assent.


ISRAEL: Trouble ahead for Deutsche Bank

The Deutsche Bank's Israel branch has recently been searched last week the Chief Executive Mr Boaz Schwarz, was arrested for a series for committing VAT offences, including the unlawful reporting of transactions to the amount of over 550 million ILS however  was later granted bail. The Israel Tax Authority…


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…



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