Cyprus and Saudi Arabia signed a Double Tax Treaty

Cyprus and Saudi Arabia signed a Double Tax Treaty

The double tax treaty for the avoidance of double taxation between Cyprus and Saudi Arabia was signed on 3 January 2018. The treaty is expected to  be  ratified  and  come  into  force  as  from  1 January 2019. The new treaty is based on the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention framewor...
Business Monday, 22 January, 2018
Hellenic bank violated consumer rights

Hellenic bank violated consumer rights

THE CYPRUS Consumer Protection Service (CCPS) has ruled that Hellenic Bank, Cyprus’ third largest lender, violated consumer rights with abusive clauses included in mortgage contracts. The bank violated consumer rights with six practices which included “vague contractual terms”. These allowed the lender to unilaterally change charges, including interest rates ...
Business Monday, 20 November, 2017
Total, Eni to start drilling by early 2018

Total, Eni to start drilling by early 2018

This article was first written in Cyprus-mail.com French oil and gas group Total and Italy’s Eni plan to start drilling in a joint exploration block off the coast of Cyprus by the end of this year or early 2018, President Nicos Anastasiades told French daily Le Figaro on Monday. Anastasiades, who is in Paris for an official visit, met Total’s Chief Executive Patri...
Business Tuesday, 14 November, 2017
Airlines to get new incentives for flying to Cyprus

Airlines to get new incentives for flying to Cyprus

Cyprus airports are ready to offer higher incentives to airlines to ensure improved flight connectivity and passenger greater traffic. The Ministry of Communications and Works and airports operator Hermes Airports, announced the signing of their commercial agreement which regulates the incentive scheme offered to airlines. The scheme covering the period 2018-2023 is offered t...
Business Friday, 08 September, 2017
Global oil and East-Med natural gas

Global oil and East-Med natural gas

This article is based on a presentation I made at the fourth Energy Symposium organised by the Institute of Energy for South East Europe (IENE) and Financial Media Way (FMW) on December 7-8 at the Hilton-Park in Nicosia. The symposium was opened by President Nicos Anastasiades, who called for regional cooperation for the development of East-Med gas resources. It started with ...
Business Monday, 14 December, 2015