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Press: Reexamination of VAT law, employment, CAIR

24/07/2007 09:00
The major issues in today’s financial press are the draft law on the Value Added Tax, Eurostat’s data on EU employment in 2006 and the dispute between the pilots and the Cyprus Airways Management. The daily press focuses on President Papadopoulos’ announcement that he will put himself forward for reelection.

The “Economy” inset of newspaper “Phileleftheros” refers to the draft law on VAT. According to the report, President Papadopoulos demanded the re-examination of the bill by the Parliament. In a letter sent to the House President, Demetris Christofias, Mr. Papadopoulos said that the law reduces the state’s tax collection ability and puts the public finances at risk.

Elsewhere the newspaper reports that the CTO stressed the need for specialized campaigns for the promotion of Cyprus in the British market.

The “Economy” inset of newspaper “Politis” refers to Eurostat’s data on EU employment in 2006. The employment rate for people aged 15-64 increased from 63.5% to 64.6%. In Cyprus, employment rose from 68.5% in 2005 to 69.6% in 2006.

“Politis” also refers to the effective intervention of Labour Minister, Antonis Vasileiou, to the Cyprus Airways crisis.

The “Economy” inset of newspaper “Simerini” refers to the dispute between the Cyprus Airways pilots and the Management. According to the report, the labour dispute in the national carrier is in the hands of Labour Minister, Antonis Vasileiou.

The newspaper also refers to the upcoming hikes in fuel prices.

The “Economy” inset of newspaper “Haravgi” refers to the dispute between the Cyprus Airways pilots and the Company’s Management. According to the report, the pilots will not go on a strike after the Labour Minister’s intervention but they stay firm to their view.

“Haravgi” also highlights that the Road Transport Department will no longer send written notifications on the renewal of license.

The “Economy” inset of newspaper “Alithia” refers to the dispute between ETYK and National Bank. According to the report, the Ombudsman, Eliana Nicolaou will meet the Chairman of the independent three-member Committee that investigates the dispute today.

Elsewhere the newspaper refers to the statements of the President of the Republic, Tassos Papadopoulos on the need to secure the viability of the Social Securities Fund.