News

The Sunday president election has failed to produce a clear winner. The right-wing candidate Mr Anastasiades has emerged as the winner but failed to secure a victory in the first round. He will now face Mr Malas who is supported by the outgoing president. It is widely anticipated that Mr Anastasiades…


Cyprus: from bad to worse

The situation in Cyprus is deteriorating as the outgoing government has failed to secure a bail-out from Troika. Instead, the EU officials are talking about bail-in where Cyprus bank deposit holders have to take so-called haircut. This will be the final blow to the Cyprus banking system. As this news…


Germany and ECB clash over Cyprus

The European Central Bank is currently at odds over with the German Finance Minister, Wolfgang Schaeuble, over the consequences of not bailing Cyprus out and what this would mean for the Eurozone as a whole. Negotiations on a 17.5 billion euro rescue package for Cyprus which began in November 2012 are…


A number of Singaporean MP's are suggesting that foreign office workers have to be replaced with the local workforce as their education level and experience gained increases. These MPs want to give priority for locals ahead of any foreigners. A minority are suggesting introducing a "Certificate of Eligibility"…


Cyprus in crisis: what lies ahead?

Interesting comments were made by some of German leading politicians regarding Cyprus bailout. They have stated that they do not rule out a Cyprus default. They have stated that the Cyprus economy is small and the Cyprus default would not be considered as a systematic failure for EU. However, the European…


Cyprus is going through tough time

The Cyprus government is trying to negotiate better terms and conditions for its bailout from the Troika. The major difference between position of the Cyprus Government and the Troika are in relation to the Cyprus government's disagreements with privatisation of semi-government organisations such as…


Ukraine is one of the post-Soviet countries that wants to exercise total control over its citizens. Political tensions with political elite of the country, wide spread corruption and an ineffective economy is holding back the country's development. However, some steps are made to liberalize foreign bank…


EU hard stance on cracking tax evasion

The tax commissioner of EU has made it clear that unilateral actions by individual EU country won't lead to a breakthrough in fighting tax evasion. The commissioner is suggesting several steps. The first step is to put more pressure on tax heavens. The second one is to address and fight the so-called…


Switzerland to change its low tax system

The EU tax commissioner Algirdas Semeta has urged the Swiss authorities to make changes to its tax system to stop European companies and individuals using tax advantages of low tax rates of the Swiss tax system. The commissioner has given to Switzerland 6 months to take an action during the EU presidency…