Cyprus one of the most influential global hubs for ship owning and services

The shipping industry has been one of Cyprus’ most successful export services, as the country enjoys the privilege of being one of the most influential global hubs for ship owning and ship management services, with the island’s maritime capital, Limassol, being home to some of the world’s most important names in shipping, said President Nicos Anastasiades.

‘Still some kinks in IPT collection’

The Interior Minister said yesterday there were still a few kinks to iron out with regards to implementing changes to the Immovable Property Tax (IPT) regulations.

Government remains cautious despite better than expected figures

The government is not in a rush to revise its estimates upwards despite encouraging data, the finance minister said on Thursday, adding that measures will be taken to keep the economy on track but they will not include taxes.

Healthy profit for Eurobank

Eurobank in Cyprus made a profit of €13.2 million after taxes during the first half of this year it announced on Wednesday.

Cyprus fiscal deficit for Q2 2013 reduced to €225.5m

Cyprus’ fiscal deficit for the second quarter (Q2) of 2013 declined to €225.6 million compared with €409.4 million in Q2 2012.

State aims to save €700m in 2014

The Cyprus government aims to reduce state spending by 10% in 2014, and reduce public deficit without imposing new taxes, says Finance Minister Harris Georgiades.

Cyprus - Your Gateway to Europe

The Cypriot Government introduced on 24 May 2013 amended criteria and conditions for Cyprus Permanent Residency permits and Cyprus Citizenship to foreign investors in an effort to promote foreign investments to Cyprus.

Church raising cash to keep majority stake in Hellenic Bank

The church is prepared to sell off prime real estate to raise the necessary cash to maintain its majority stake in Hellenic Bank, says Archbishop Chrysostomos II.

Focus on saving €700m in 2014

The government hopes to save €700m of taxpayers’ money next year without implementing further pay cuts in the public sector or increasing taxes during a recession, said Finance Minister Harris Georgiades yesterday.

Cabinet tackles loan restructuring

Cyprus government announces measures to ensure banks and their clients reach fair compromise in restructuring existing loans.