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Press: Economy, banks under IMF review

10/02/2011 07:17
The major issues in today’s financial press are Cystat’s data on the consumers’ price index in January, the approval of the bill on the tax on banks by the Council of Ministers and the offsetting measures that the government will announce today for the groups of population that were affected most by the imposition of 5% VAT on food and medicine.

The “Economy” inset of newspaper “Phileleftheros” refers to Cystat’s data on the consumer price index in January. According to the report, the increase in the price on several goods and services were significant in January, despite the fact that the consumer price index fell 0.82%.

Elsewhere the newspaper reports that the value of total imports in Cyprus in 2010 stood at €6.4 billion.

Other headlines:

- IMF: Sizes of economy and banks under thorough review

- Discounts by Hermes still an issue of talks

-BOCY goes well in Australia

- Gains of 3.12% in the CSE

The “Economy” inset of newspaper “Politis” refers to the approval of the bill on the contribution of banks to the state coffers by the Council of Ministers. According to the report, the bill for the imposition of the banking duty on the banks and the Coops, which is expected to add €35 million to the state coffers, will be submitted to the Parliament today.

“Politis” also refers to the CPC reservations on the ceiling for the price of the basic goods.

Other headlines:

- Hermes says neither “no” nor “yes” – For discounts to CAIR

- Acquisitions go up despite drop in value of agreements

- Russian arrivals increase – Reservations to Cyprus increase due to Egypt

- KEMA in Nielsen – Acquisition of its turnover and customers’ list

The newspaper “Simerini” reports that the government will announce to the trade unions today the offsetting measures that it intends to allocate to the groups of population that have been hit by the imposition of 55 VAT on food and medicine.

The “Economy” inset of the newspaper refers to the government’s effort to abolish the multiple pensions. According to the report, the government prepares a completed proposal for the correction of the accumulated distortions and the problems on the pension system.

Other headlines:

- PEO – SEK – DEOK want to be involved in the talks on the pension system

- IMF in Cyprus – They came yesterday to review the progress of the Cypriot economy

- They will have talks on the drop in airport duties

- CSE recorded gains

The “Economy” inset of newspaper “Haravgi” highlights that the Council of Ministers approved yesterday the proposal, which includes the main principles against the multiple pensions.

“Haravgi” also reports that Bank of Cyprus (Australia) announced the best statistical economic data of the decade.

Other headlines:

- Study for the withdrawal of taxis

- Radical measures for the reduction of unemployment proposed by PEO

- Hermes meets the Finance Minister

- Gains in the CSE

The newspaper “Alithia” reports that the Commerce Ministry knocked the wrong door to the EU for the setting of a ceiling on the price of the basic goods. This is what the CPC Chairman, Costakis Christoforou said in his letter to the Parliament.

The “Economy” inset of the newspaper refers to the Extraordinary General Meeting of Multichoice yesterday. According to the report, the EGM authorized the Board of Directors to proceed with negotiations for the sale of its assets, including the sale of the business.

Other headlines:

- We will discuss with the government the reduction of the airport duties – Hermes Airports

- For the alchemies and the public debt – Spokesman replies to Averof

- We will pay soon – A. Paschalides for the SMEs

- CSE meets the Nicosia Mayor for CSE building