News

Cyprus MPs defend the delay in passing title deeds

Interior Minister Socratis Hasikos raised a point when he criticised parliament for not passing a government bill devised to protect house buyers without title deeds, but he hadn't been entirely right, an MP claimed on Saturday.


The Russian-Cypriot Gala: promoting strong country ties

The Russian-Cypriot Annual Gala is due to held on the 12th of September at the Presidential Palace, with the purpose of developing closer ties between the two countries.


CYPRUS: Parliament approve number of key tax reforms

The House in Cyprus approved a number of tax reform bills last week, aimed at restructuring taxation and encouraging investment in Cyprus.


IMF’s next loan instalment for Cyprus approved

The IMF arranged to loan Cyprus a total of €1bn as part of the bail-out plans. This was given in conjunction with a €9bn emergency sum donated from the European Stability Mechanism (ESM).


EC launches public consultation to aid corporate tax transparency

The European Commission (EC) have launched a public consultation on commercial tax transparency to explore whether companies disclosing more information about the taxes they pay could help prevent tax avoidance. The consultation looks set to end on September 9th.


As Greek deal becomes less likely, bond yields in Cyprus increase

Yields of the Eurozone area bonds are on the rise this week amid news broadcasters reporting that a deal between Greece and international creditors is looking less likely each day that the issue remains unresolved. The seven-year bond in Cyprus is expiring in May 2022, which was issued this year in…


Fewer and fewer offshore companies registering in Cyprus

During May 2015 only 103 applications were filed for registration of new companies in Cyprus, which is 10% lower than in 2014.


The EBRD is ready to help Cyprus get out of a difficult situation

The European Bank for Reconstruction and Development (EBRD) plans to finance projects in three areas, in order to help the banks in Cyprus, whose share of non-performing loans (NPLs) have reached more than 50%. The privatisation of parastatal projects, actively oppose the Cypriot trade unions and other…