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Press: Trichet worries on oil price hike

04/10/2004 08:29
The major issues in today’s financial press are Cyprus’ attractiveness for tourists and investors, the prospects on the collection of the income tax and the fears on the repercussions on economy from the increase in the price of crude oil.

The “Economy” inset of newspaper “Phileleftheros” refers to the findings of the German Institute of Economic Surveys according to which Cyprus is a business-friendly country. Cyprus ranks 16th and the US and UK 12th and 14th respectively.

Elsewhere the newspaper refers to the increase of $764.4 million to $9,802.4 million of the assets of the offshore banks in the first half of 2004.

The “Economy” inset of newspaper “Politis” reports that the collection of the amounts due of the income tax is impossible in certain cases. According to the report, from the total amounts due to the income tax until 2003 (£262.9 million), only £121.4 million can be collected.

“Politis” also refers to the increased French business confidence in September, which is attributable to the increased consumers’ expenditure and exports.

The newspaper “Simerini” refers to the findings of the Investigation Committee on the CSE scandal.

The “Economy” inset of the newspaper refers to the CTO efforts to attract more foreign tourists.

The “Economy” inset of newspaper “Alithia” refers to Eurostat data according to which Greece ranks first in EU 15 and third in EU 25 on car accidents. According to the report, Greece ranks fourth in the number of mobiles and last but one in the participation of EU educational programs.

Elsewhere the newspaper refers to the price hike in crude oil, which is “not encouraging for the global economy growth”, according to the ECB Chairman, Jean Claude Trichet.