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Bank of Cyprus marks 125th anniversary

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Bank of Cyprus marks 125th anniversary

The Bank of Cyprus celebrated its 125th anniversary, with the group chairman highlighting the bank’s resilience and commitment to innovation. The CEO emphasized the bank’s significant impact on Cyprus’ modern history and economic development. President Christodoulides urged the bank to continue supporting those in need and work closely with the government to achieve shared goals. The event marked the start of the celebrations for the bank’s anniversary, with leading politicians and businesspeople in attendance.

Posidonia 2024 marks the rebirth of the Greek shipbuilding industry

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Posidonia 2024 marks the rebirth of the Greek shipbuilding industry

Posidonia 2024 is set to mark the rebirth of the Greek shipbuilding industry, with over 85 shipyards from 26 countries confirmed to showcase their vessel design and production innovations from June 3-7.

Our View: MPs, ’ ATM gripe undermines profitable business model

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Our View: MPs, ’ ATM gripe undermines profitable business model

Deputies in Cyprus criticized banks for not having enough ATMs, especially in rural areas, during a House commerce committee meeting. The chairman of the committee stated that banks were lacking social responsibility and prioritizing profit over serving the community. Despite the criticism, banks explained that operating ATMs is costly and they plan to reduce them to improve profitability, which is necessary for a dynamic economy. The closure of the cooperative bank was also mentioned as a result of prioritizing social responsibility over profits.

Honey, I Shrunk The Tax Base: The Decline In Taxable Shareholders

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Honey, I Shrunk The Tax Base: The Decline In Taxable Shareholders

The content discusses updated data from the Urban-Brookings Tax Policy Center showing a decreasing shareholder tax base and how it could affect tax policy. The percentage of taxable shareholders has dwindled over time, with implications for taxing dividends and capital income. Foreign investors, retirement accounts, and not-for-profit institutions are the largest groups of nontaxable shareholders. The article aims to address the issue of a shrinking tax base and provides transparency in methodology for readers to engage with the data. The implications of the decreasing shareholder tax base include the impact on corporate tax cuts benefiting foreign investors and the need to consider solutions like a withholding tax on corporate distributions to foreign investors.

Exiled Belarusian opposition leader in Cyprus

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Exiled Belarusian opposition leader in Cyprus

Exiled Belarusian political opposition leader Sviatlana Tsikhanouskaya visited Cyprus and met with House president Annita Demetriou and the House foreign affairs committee. The European Union must play an active role in confronting dictatorial regimes, and the struggle for freedom and democracy in Belarus is also Cyprus’ struggle. Thousands of political prisoners have been taken hostage in Belarus, and Tsikhanouskaya thanked Cyprus for supporting Belarusians in their fight for democratic changes.

Swords crossed over Turkish Cypriot properties

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Swords crossed over Turkish Cypriot properties

Interior ministry and audit service are in disagreement over proposed changes to laws regulating the management of Turkish Cypriot properties. The interior ministry believes that allowing Turkish Cypriot properties to be inherited by relatives of refugees residing in them will resolve inequality and feelings of injustice among displaced persons. The ministry also stated that inheritance refers to the license to use the property, not ownership. Auditor-General Odysseas Michaelides expressed concerns that well-off individuals may end up with Turkish Cypriot properties, while homeless refugees may be left without housing. The committee chairman noted that there are reservations about the transfer of properties to non-refugees and potential political issues related to succession.

Move to install cameras in schools approved

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Move to install cameras in schools approved

Fact: Personal data protection commissioner Irene Loizidou Nicolaidou approved a plan to install CCTV cameras at schools to deal with violence and delinquency.

Cyprus appoints new ECB member, just in time

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Cyprus appoints new ECB member, just in time

Christodoulos Patsalides was appointed as the new Central Bank Governor of Cyprus, replacing Constandinos Herodotou. Patsalides, a former deputy CEO of the Bank of Cyprus, was sworn in just in time to attend the ECB monetary policy meeting in Frankfurt.