03/06/2014 07:29
The major issues in today’s financial press are the talks of the House Finance Committee on the bill for the consolidation of the IRD and VAT departments and the changes that will contribute to the hastening of the procedures for estate foreclosures.
The daily press focuses on yesterday’s meeting of the President of the Republic with the T/C leader, Dervis Eroglu at the old Nicosia airport. Mr. Anastasiades requested by the T/C side to lodge positions on all aspects of the Cyprus issue, while he proposed the introduction of four new technical committees.
The “Economy” inset of newspaper “Phileleftheros” refers to the yesterday’s talks at the House Finance Committee on the bill for the consolidation of the IRD and VAT departments. As noted, no-one disagrees with the consolidation, however, the MPs have expressed serious reservations as to the procedure that the government wants to implement, by-passing the established procedure, provided by EDY and the legislative exclusion of current IRD Director from claiming the position. Yesterday the Finance Minister warned the Parliament that is a prerequisite to enact the bill by June 10, for the disbursement of the next tranche by the troika. Today the examination of the bill will be continued.
Elsewhere the newspaper reports that the Commission for the Protection of Competition noted principle case against JCC Payment Systems and banks in connection with the issuance, acceptance and use of credit cards in Cyprus.
Other headlines:
-HB: Shareholders’ moves ahead of capital increase
-Fiscal goes plenary on Thursday
-CAIR: Sale of time slot and EU demand
-Update of…criticism – AKEL, DIKO, EDEK, Alliance, Ecologists worry about divestitures
The “Economy” inset of newspaper “Politis” refers to yesterday’s talks at the House Finance Committee on the bill for the consolidation of the IRD and VAT departments. During the talks the parties, PASYDY and other organizations objected for the procedure of appointment of the tax superintendent. The consolidation procedure will have several stages and will be completed in early 2016.
“Politis” also reports that the regulations for the operation of the fiscal council head towards approval by the plenary on Thursday.
Other headlines:
-Reforms boost Cypriot GDP by 7%
-JCC – Banks: CPC sees possible distortion of competition in issuance and acceptance of cards
-CSE up 0.40%
-ASE up
The “Economy” inset of newspaper “Simerini” refers to the changes that will contribute to the hastening of the procedures for the asset foreclosures, except for the main residence, from late June. According to the updated memorandum, in relation to the estate foreclosures of non- creditworthy borrowers, the new memorandum includes a provision which states that all administrative or other obstacles must be lifted, which so that the assets pledged as collateral can be recovered within a reasonable period of time.
The newspaper also reports that the Telecommunications Superintendent’s position is vacant for 11 months and all issues concerning the regulation of telecommunications remain stagnant.
Other headlines:
-Reactions for fiscal council
-Criminal offences to municipalities and communities
-Interest in investments
The “Economy” inset of newspaper “Haravgi” refers to the mass dismissals in Cyprus Airways last week. According to the report, there is a great inconvenience among the staff, since the way of dismissals is scandalous. Last Friday, the dismissals were made via phone at 10.00 pm while the employees were at their homes.
“Haravgi’ also highlights that the associated companies of Third Point proceeded with the acquisition of 7.7 million convertible capital securities series 2 of the Hellenic Bnak.
Other headlines:
-Chinese impose…medieval times
-Four more chairs for the new tax authority
-BOCY: Various trends for capital issue
The “Economy” inset of newspaper “Alithia’ is the fuss made about the salary of the Chairman of Hellenic Bank. According to the report, while being at the stage of pending approval of the Board members from the Central Bank, there is big fuzz about the salary that the Chairman will receive. Former Chairman, Andreas Panayiotou said that his salary stands at €50 thousand.
Elsewhere the newspaper reports that according to the Finance Minister, the recruitment of any banking organization is not a job either of the parties or the executive power.
Other headlines:
-Dispute on updated memorandum
-New banknote of €10 at the end of September
-Conference for collective investment schemes
The daily press focuses on yesterday’s meeting of the President of the Republic with the T/C leader, Dervis Eroglu at the old Nicosia airport. Mr. Anastasiades requested by the T/C side to lodge positions on all aspects of the Cyprus issue, while he proposed the introduction of four new technical committees.
The “Economy” inset of newspaper “Phileleftheros” refers to the yesterday’s talks at the House Finance Committee on the bill for the consolidation of the IRD and VAT departments. As noted, no-one disagrees with the consolidation, however, the MPs have expressed serious reservations as to the procedure that the government wants to implement, by-passing the established procedure, provided by EDY and the legislative exclusion of current IRD Director from claiming the position. Yesterday the Finance Minister warned the Parliament that is a prerequisite to enact the bill by June 10, for the disbursement of the next tranche by the troika. Today the examination of the bill will be continued.
Elsewhere the newspaper reports that the Commission for the Protection of Competition noted principle case against JCC Payment Systems and banks in connection with the issuance, acceptance and use of credit cards in Cyprus.
Other headlines:
-HB: Shareholders’ moves ahead of capital increase
-Fiscal goes plenary on Thursday
-CAIR: Sale of time slot and EU demand
-Update of…criticism – AKEL, DIKO, EDEK, Alliance, Ecologists worry about divestitures
The “Economy” inset of newspaper “Politis” refers to yesterday’s talks at the House Finance Committee on the bill for the consolidation of the IRD and VAT departments. During the talks the parties, PASYDY and other organizations objected for the procedure of appointment of the tax superintendent. The consolidation procedure will have several stages and will be completed in early 2016.
“Politis” also reports that the regulations for the operation of the fiscal council head towards approval by the plenary on Thursday.
Other headlines:
-Reforms boost Cypriot GDP by 7%
-JCC – Banks: CPC sees possible distortion of competition in issuance and acceptance of cards
-CSE up 0.40%
-ASE up
The “Economy” inset of newspaper “Simerini” refers to the changes that will contribute to the hastening of the procedures for the asset foreclosures, except for the main residence, from late June. According to the updated memorandum, in relation to the estate foreclosures of non- creditworthy borrowers, the new memorandum includes a provision which states that all administrative or other obstacles must be lifted, which so that the assets pledged as collateral can be recovered within a reasonable period of time.
The newspaper also reports that the Telecommunications Superintendent’s position is vacant for 11 months and all issues concerning the regulation of telecommunications remain stagnant.
Other headlines:
-Reactions for fiscal council
-Criminal offences to municipalities and communities
-Interest in investments
The “Economy” inset of newspaper “Haravgi” refers to the mass dismissals in Cyprus Airways last week. According to the report, there is a great inconvenience among the staff, since the way of dismissals is scandalous. Last Friday, the dismissals were made via phone at 10.00 pm while the employees were at their homes.
“Haravgi’ also highlights that the associated companies of Third Point proceeded with the acquisition of 7.7 million convertible capital securities series 2 of the Hellenic Bnak.
Other headlines:
-Chinese impose…medieval times
-Four more chairs for the new tax authority
-BOCY: Various trends for capital issue
The “Economy” inset of newspaper “Alithia’ is the fuss made about the salary of the Chairman of Hellenic Bank. According to the report, while being at the stage of pending approval of the Board members from the Central Bank, there is big fuzz about the salary that the Chairman will receive. Former Chairman, Andreas Panayiotou said that his salary stands at €50 thousand.
Elsewhere the newspaper reports that according to the Finance Minister, the recruitment of any banking organization is not a job either of the parties or the executive power.
Other headlines:
-Dispute on updated memorandum
-New banknote of €10 at the end of September
-Conference for collective investment schemes
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