insurance

5 years on, 60% visit GHS specialists

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5 years on, 60% visit GHS specialists

– The General Health System (GHS) in Cyprus was established five years ago.
– The GHS remains financially viable for the next seven years, with reserves of €590 million.
– The GHS has increased confidence among the public, with 60% of beneficiaries visiting a specialist in the past year.
– The GHS has improved access to health services and quality of life for citizens.
– Plans are underway to reduce waiting times at specialist physicians and publish a strategic plan for 2024-2026.
– The GHS has added four hospitals, two A&E departments, day care centers, at-home palliative care, and additional healthcare professionals and therapies.
– The GHS has imposed fines, carried out investigations, and suspended contracts to ensure oversight and quality of services provided.

Government approves subsidised holidays for pensioners and employees

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Government approves subsidised holidays for pensioners and employees

The Council of Ministers approved two subsidised holiday schemes to boost domestic tourism and support low-income residents. The Low-Income Pensioners’ Holiday Subsidy Scheme offers free four-day stays in mountain resorts and Pyrgos Tillyrias for eligible individuals. The Employed Persons’ Leave Subsidy Scheme provides fully subsidised six-day stays for employed persons who received leave benefits in 2023. Labor Minister Yiannis Panagiotou stated that the aim of the schemes is to provide quality services to low-income residents and employees, while supporting mountain resorts and off-season tourism. Application procedures will be announced by the Ministry of Labour and Social Insurance.

Five UK market hotspots to watch ahead of the election

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Five UK market hotspots to watch ahead of the election

– Prime Minister Rishi Sunak called a summer election in the UK, surprising many and giving a modest boost to the pound.
– Keir Starmer’s Labour Party has been leading in opinion polls since Sunak took power in 2022.
– UK equities tend to be quite flat in the six months after a national election, with the FTSE 250 outperforming the FTSE 100.
– The pound is sensitive to election time, reflecting international investor opinion about the UK and expected government policies.
– Sectors like Natwest Group, housebuilders, and the water sector will be under scrutiny during the election.
– Bond market investors will closely examine the two parties’ spending plans, especially Labour’s, to ensure bond market stability.
– Credit default swap markets currently price the UK as if it had a higher credit rating than it actually does.

CySEC issues decisions on firm license withdrawals, public takeover exemption

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CySEC issues decisions on firm license withdrawals, public takeover exemption

CySEC recently announced decisions to withdraw licenses from Ganita Global Gateways UCITS V.C.I.C Platform PLC, Oval Money (Europe) Ltd, and Forextime Ltd.

Trump’s new ‘deal’ could save Big Oil $110 billion in taxes

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Trump's new ‘deal’ could save Big Oil $110 billion in taxes

Donald Trump allegedly offered Big Oil executives 0 billion in tax breaks if they donated billion to his campaign. Congressional Democrats are investigating this potential quid pro quo deal. Joe Biden plans to eliminate these tax breaks for the oil and gas industry if elected. The fossil fuel industry is lobbying to maintain these tax breaks, which are set to expire next year. Some attendees at Trump’s fundraising dinner at Mar-a-Lago included executives of smaller oil companies focused on fracking and gas exporting. The event was also attended by individuals with controversial backgrounds in the oil and gas industry.

Industry Insiders May Face Tax Bills as California Reportedly Tightens Payroll Rules on Loan Out Corporations

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Industry Insiders May Face Tax Bills as California Reportedly Tightens Payroll Rules on Loan Out Corporations

The state of California is implementing policy changes that will impact Hollywood’s creative community who use loan out corporations to manage their business affairs. This change will require Hollywood employers to pay creative talent wages as individuals rather than as fees owed to a business entity. This will result in full income tax withholding and payment of employee and employer taxes on all income earned by the owners of loan-out companies. The change is in line with California’s labor-friendly policy agenda under Governor Gavin Newsom.

Cyprus battles EU sanctions on Russian LNG export tankers, part of new package

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Cyprus battles EU sanctions on Russian LNG export tankers, part of new package

The European Union is considering a new package of sanctions against Russia, including a ban on exports of Russian liquified natural gas. Some member states, such as Cyprus, Greece, and Malta, are skeptical of these measures, believing they could lead to negative consequences in the shipping industry. On the other hand, other countries view the proposed energy sanctions as a step forward. This would be the first time the EU officially targets Russia’s natural gas products. Cyprus has been directly impacted by Russian sanctions in the past, particularly in the administrative services sector.

Hellenic Bank Q1 profits up, landmark deals in 2024

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Hellenic Bank Q1 profits up, landmark deals in 2024

Hellenic Bank announced first quarter profits of €93.3 million, up 34% year on year, but 25% below the previous quarter. Net interest income rose to €151 million, up 40% year on year. The bank has reached agreements for the renewal of a labor collective agreement and to strengthen its insurance operations. New lending in the first quarter reached €208 million, with a focus on retail customers. The bank has a liquidity coverage ratio of 580%.

Complaints to financial ombudsman on the up

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Complaints to financial ombudsman on the up

Complaints to the financial ombudsman’s office rose by 20 per cent in 2023 to a total of 1,121.

An introduction to India, ’s cashless Health Insurance policy in India

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An introduction to India, ’s cashless Health Insurance policy in India

Fact: Cashless healthcare insurance is a policy that allows individuals to receive medical treatment without paying directly to the hospital, as the insurance company and the hospital settle the bills directly.