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Press: Cost of fuel, TSH fines

22/07/2008 07:50
The major issues in today’s financial press are CYSTAT’s data on the cost of the oil products, SEC’s fines to Tsokkos and the meeting between the Ecologists General Secretary, Giorgos Perdikis and EAC Chairman, Haris Thrasou.

The “Economy” inset of newspaper “Phileleftheros” refers to CYSTAT’s data on the cost of oil products. According to the report, from €282.63 per ton in 2000, the cost was shot to €548.37 per ton in 2007 (+94%).

Elsewhere the newspaper reports that according to Petrolina Manager, if the new fuel loads are of lower cost this week, retail prices will drop.

The “Economy” inset of newspaper “Politis” refers to SEC’s fines to Tsokkos. According to the report, the fines of €400 thousand concerned the manipulation of TSH in summer 2006, the transaction in closed periods, the abuse of confidential information and the use of “straw men” for the conduct of transactions.

“Politis” also reports that the procedures for the merger of Laiki Investment with CLR Capital have reached its final stages.

The “Economy” inset of newspaper “Simerini” refers to the meeting between Ecologists General Secretary, Giorgos Perdikis and EAC Chairman, Haris Thrasou. According to the report, the deliberations focused on the government’s intention to revise the corporate taxes imposed by EAC to the state and the transfer of natural gas to Cyprus.

The newspaper also refers to the fines imposed to POP Life Electric Shops Ltd by the Electronic Communication and Post Office Commissioner.

The “Economy” inset of newspaper “Haravgi” refers to the Transport Minister’s warning to Swissport and LGS to comply with their obligations. According to the report, the two companies will be imposed fines of millions of pounds this week in case they fail to meet their duties.

“Haravgi” also highlights that Larnaca CCI expressed its content for the finalization of the procedure for the development of the Larnaca port and marina.

The “Economy” inset of newspaper “Alithia” refers to the Transport Minister’s warning to Swissport and LGS to comply with their obligations. According to the report, Mr. Nicolaides stated that the procedure for the imposition of fines has started.

Elsewhere the newspaper refers to the renewal of the union contracts of the bank employees for 2008 -2010 today.