03/07/2014 07:01
The major issues in today’s financial press are the request of the Board of Directors of Bank of Cyprus for an extension until August 22 for the completion of the capital issue and the investor’s interest in the US bank, as well as the bill approved by the Council of Ministers’ yesterday for the property tax.
The “Economy” inset of newspaper “Phileleftheros” refers to the request of the Board of Directors of Bank of Cyprus for an extension until August 22 for the completion of the capital issue. As noted, CB Governor, Chrystalla Georghadji, who is in Frankfurt, will discuss the issue with the ECB President, Marios Draghi, as it is high in the agenda of the European supervisory authority.
Elsewhere the newspaper reports that according to the European Commission, recovery in Cyprus is expected to be subdued with an anticipated growth of 0.4% in 2015.
Other headlines:
-No decision for Tax Superintendent
-Labour problems and turmoil in hotels
-Palaces of €5m each changed hands
-House dispute for CAIR tomorrow
The “Economy” inset of newspaper “Politis” refers to the investor’s interest for Bank of Cyprus from the US. As noted, the international investment company Jefferie sent on Friday, June 27 a non-binding offer for an investment of €1 billion to the Group. Jefferie is willing to act as trustee, that is, to cover the entire amount.
“Politis” also reports that according to the IMF and the European Commission, the implementation of the Cyprus program of economic adjustment is still on track.
Other headlines:
-Entrepreneurship – Disrupt Cyprus Cup
-Need for new capital in EU – It is estimated that 22 European banks will proceed with increases
-Losses of 0.61% in the CSE
-ASE up
The “Economy” inset of newspaper “Simerini” refers to the bill approved by the Council of Ministers yesterday for the property tax. Through the bill, which will be tabled to the Parliament today, those who hold assets of up to €200 thousand will be exempted, while for the assets that will be taxed, the tax rate will be just one per thousand.
The newspaper also refers to the meeting of the Board of Directors of Bank of Cyprus to take place tomorrow. The new Board meeting will determine the course of the decision for the share capital increase.
Other headlines:
-Companies-giants for NG
The newspaper “Haravgi” refers to the emergency measures that Cyprus is called to prepare for the minimum guaranteed income. According to the report, in a comment for EEE, the IMF requested by the Cypriot authorities to identify additional benefits that could be rationalized and to be prepared for other emergency measures so as to cover the additional expenses without affecting the medium term fiscal targets.
The “Economy” inset of the newspaper refers to the bill approved by the Council of Ministers yesterday for the property tax. Specifically, it suggests the exemption of properties of up to €200 thousand from the tax, while for properties exceeding €200 thousand the tax rate will decline by one per thousand.
Other headlines:
-Russian major shareholders prepare legal actions
-Sales from Friday
-Spreads go up again
The newspaper “Alithia” refers to the bill approved by the Council of Ministers yesterday on the property tax. According to it, assets of up to €200 thousand will be exempted, while the tax rate declines by one per thousand and by 22 per thousand for the municipalities.
The “Economy” inset of the newspaper refers to the quarterly progress report of Cyprus prepared by the IMF. The report says that the Cypriot program is still on track, stressing that the fiscal targets for the first quarter were met, the national payment restrictions were fully lifted and the Cooperatives were consolidated. On behalf of the European Commission, the report says that the program is on the right track, the implementation of the budget was prudent while the fiscal targets were achieved.
Other headlines:
-Household loans fall
-10-year bond exceeds 5%
-Growth reform one-way street
-OEB favours tax cut – Widow pension
The “Economy” inset of newspaper “Phileleftheros” refers to the request of the Board of Directors of Bank of Cyprus for an extension until August 22 for the completion of the capital issue. As noted, CB Governor, Chrystalla Georghadji, who is in Frankfurt, will discuss the issue with the ECB President, Marios Draghi, as it is high in the agenda of the European supervisory authority.
Elsewhere the newspaper reports that according to the European Commission, recovery in Cyprus is expected to be subdued with an anticipated growth of 0.4% in 2015.
Other headlines:
-No decision for Tax Superintendent
-Labour problems and turmoil in hotels
-Palaces of €5m each changed hands
-House dispute for CAIR tomorrow
The “Economy” inset of newspaper “Politis” refers to the investor’s interest for Bank of Cyprus from the US. As noted, the international investment company Jefferie sent on Friday, June 27 a non-binding offer for an investment of €1 billion to the Group. Jefferie is willing to act as trustee, that is, to cover the entire amount.
“Politis” also reports that according to the IMF and the European Commission, the implementation of the Cyprus program of economic adjustment is still on track.
Other headlines:
-Entrepreneurship – Disrupt Cyprus Cup
-Need for new capital in EU – It is estimated that 22 European banks will proceed with increases
-Losses of 0.61% in the CSE
-ASE up
The “Economy” inset of newspaper “Simerini” refers to the bill approved by the Council of Ministers yesterday for the property tax. Through the bill, which will be tabled to the Parliament today, those who hold assets of up to €200 thousand will be exempted, while for the assets that will be taxed, the tax rate will be just one per thousand.
The newspaper also refers to the meeting of the Board of Directors of Bank of Cyprus to take place tomorrow. The new Board meeting will determine the course of the decision for the share capital increase.
Other headlines:
-Companies-giants for NG
The newspaper “Haravgi” refers to the emergency measures that Cyprus is called to prepare for the minimum guaranteed income. According to the report, in a comment for EEE, the IMF requested by the Cypriot authorities to identify additional benefits that could be rationalized and to be prepared for other emergency measures so as to cover the additional expenses without affecting the medium term fiscal targets.
The “Economy” inset of the newspaper refers to the bill approved by the Council of Ministers yesterday for the property tax. Specifically, it suggests the exemption of properties of up to €200 thousand from the tax, while for properties exceeding €200 thousand the tax rate will decline by one per thousand.
Other headlines:
-Russian major shareholders prepare legal actions
-Sales from Friday
-Spreads go up again
The newspaper “Alithia” refers to the bill approved by the Council of Ministers yesterday on the property tax. According to it, assets of up to €200 thousand will be exempted, while the tax rate declines by one per thousand and by 22 per thousand for the municipalities.
The “Economy” inset of the newspaper refers to the quarterly progress report of Cyprus prepared by the IMF. The report says that the Cypriot program is still on track, stressing that the fiscal targets for the first quarter were met, the national payment restrictions were fully lifted and the Cooperatives were consolidated. On behalf of the European Commission, the report says that the program is on the right track, the implementation of the budget was prudent while the fiscal targets were achieved.
Other headlines:
-Household loans fall
-10-year bond exceeds 5%
-Growth reform one-way street
-OEB favours tax cut – Widow pension
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