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Tatar, ’s daughter insists diploma is real

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Tatar, ’s daughter insists diploma is real

Canev Tatar, daughter of Turkish Cypriot Leader Ersin Tatar, insisted that her diploma from the Cyprus Health and Social Sciences University (KSTU) is authentic, despite the university being involved in a diploma forgery scandal. She graduated from the University of the Arts London in 2015 and has been involved in artistic and personal development activities. Tatar expressed disappointment and offense over accusations against her, asserting she completed the required coursework and exams at KSTU. She provided evidence of her studies, including Whatsapp conversations, a PowerPoint presentation, and her diploma certificates from both universities. High-profile arrests linked to the fake diploma scandal at KSTU include former ‘education minister’ Kemal Durust and his wife Meray Durust, as well as Yodak chairman Turgay Avci and former board member Mehmet Hasguler, all of whom are currently on bail.

Record year for Cablenet with 16.2 per cent increase in revenue and 52 per cent increase in its mobile subscription base

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Record year for Cablenet with 16.2 per cent increase in revenue and 52 per cent increase in its mobile subscription base

In 2023, Cablenet achieved a revenue of €74.3 million, marking a 16.2% increase from €63.9 million in 2022. This growth is attributed to a 29% increase in its total subscriber base. The company also reported a 52% increase in mobile subscribers, surpassing 142,000 contract and prepaid subscribers. Cablenet’s revenue from Mobile Telephony service increased by 54%. The company completed the migration of subscribers to its proprietary 4G frequency spectrum and invested in additional coverage and capacity capabilities. Cablenet offers coverage to approximately 228,000 households nationwide, up from about 205,000 at the end of 2022, aiming for 80% household coverage in Cyprus. By the end of 2023, around 85,000 households and 5,100 businesses used Cablenet for broadband and other Fixed Services. Cablenet’s Purple Max Internet won the Most Innovative Operator Cloud Offering category at the 11th Annual Global Telecoms.com Awards, Glotel Awards. Cablenet ranked first in overall customer satisfaction and Net Promoter Score (NPS) in the Cypriot telecommunications market according to CYMAR market research.

Eurobank growing into a regional powerhouse , — Cyprus central to its plans

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Eurobank growing into a regional powerhouse , — Cyprus central to its plans

– Eurobank’s financial results for 2023 exceeded initial expectations.
– Eurobank has a business plan for 2024-2026 aiming to become a regional banking powerhouse.
– The bank has a strong presence in Cyprus, which is expected to deepen.
– The bank’s board of directors will meet in Cyprus on March 20-22.
– Eurobank’s 2023 financial highlights include a per-share net profit of €0.31 and a return on equity of 18.1%.
– Earnings per share increased by 21.1% compared to 2022, reaching €2.07.
– 37% of net profits came from international activities.
– The Capital Adequacy Ratio (CAD) was 20.2% and the Common Equity Tier 1 (CET1) ratio was 17%.
– Non-performing exposures (NPEs) were at 3.5%, with a coverage ratio for non-performing loans of 86.4%.
– The loans-to-deposits ratio was 72.3%, and the liquidity coverage ratio was 178.6%.
– The business plan for 2024-2026 includes integrating Hellenic Bank in Cyprus and expanding in the region.
– About 50% of profits are expected to come from international operations.
– The plan targets a capital return of about 15% on a recurring basis and a dividend payout ratio of nearly 50% by 2026.
– Net interest income increased by 46.9% compared to 2022, reaching €2.17 billion.
– Fee and commission income grew by 4.2% in 2023, totaling €544 million.
– Organic revenues increased by 35.8% annually, reaching €2.71 billion.
– Operating expenses increased by 5.2% compared to 2022, reaching €902 million.
– The cost-to-income ratio improved to 33.2% in 2023.
– Organic pre-provision operating income increased by 58.6% annually, totaling €1.816 billion.
– Provisions for impaired loans increased by 24.7% compared to 2022, reaching €345 million.
– Organic pre-tax operating profits surged by 69.4% in 2023, totaling €1.47 billion.
– Adjusted pre-tax profits amounted to €1.55 billion, with adjusted net profits increasing by 6.6% to €1.256 billion.
– Adjusted net profits from international activities increased to €468 million in 2023.
– Operational performance in Cyprus and Bulgaria showed substantial improvement.
– Eurobank acquired a majority stake in Hellenic Bank and completed the acquisition of BNP Paribas Personal Finance in Bulgaria.
– Eurobank’s regional presence is significant, contributing approximately 37% to its profitability in 2023.
– Eurobank Cyprus began operations in 2007 and is the third-largest bank on the island.
– Eurobank Cyprus operates in five core business pillars.
– Eurobank has no intention of using Hellenic Bank’s excess liquidity elsewhere in the group.
– Eurobank and Hellenic Bank will continue to operate separately until conditions are met for their merger.
– Eurobank signed a Memorandum of Understanding with NPCI International Payments Limited to enhance remittances from Greece to India.

Media independence safeguarded in EU law

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Media independence safeguarded in EU law

The European Parliament approved a new EU regulation for the protection of journalists and media from political and economic interventions, with 464 votes in favor, 92 against, and 65 abstentions. This regulation mandates member states to ensure media independence and prohibits any forms of intervention in editorial decisions. It includes measures against pressuring journalists to disclose sources, establishes rules for the use of surveillance software by authorities, sets criteria for the editorial independence and funding of public media, requires transparency regarding media ownership, ensures fair distribution of state advertising, and protects media freedom from arbitrary actions by major online platforms.

KPMG Academy: Specialised services through academic expertise

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KPMG Academy: Specialised services through academic expertise

The Academy, associated with KPMG in Cyprus, provides specialized services, solutions, and insights across various industries by combining professional and academic expertise. It has adapted successfully to market changes, regulations, and technological advancements over the years. The Academy offers a range of training services including open seminars/webinars, tailored trainings, learning advisory, and digital learning in areas such as Organisational Strategy and Operations, HR Advisory, Restructuring, IFRS and Accounting, Taxation, Corporate Finance, Financial Risk Management/consulting, IT Advisory, and Soft Skills. Its trainers, certified by the HRDA as Vocational Trainers, come from KPMG in Cyprus, the broader KPMG network, prestigious universities, and successful companies. The training programs are suitable for professionals from various industries and may fulfill Continuing Professional Development requirements, with many approved by the Human Resource Development Authority (HRDA) for subsidies. Upcoming trainings from March to June 2024 cover topics like VAT legislation in Cyprus, AML regulations, Blockchain and the Metaverse, corporate tax principles, tax updates, cybersecurity basics, data intelligence and AI, ESG assurance, real estate transactions, and the CRR III framework for banks.