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Contact us
Phone: +357 22 889800
Fax: +357 22 669048
Website: www.csba.org.cy
Email: info@csba.org.cy
Our Office:
38, Grivas Dhigenis Ave.
& 3, Deligiorgis Str.,
P.O.Box 21455,
1509 Nicosia Cyprus
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Macroeconomic Indicators
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European Commission Forecast for 2015
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SLOVAKIA
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CYPRUS
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GDP
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2.5
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0.4
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Exports
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4.1
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2.0
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Imports
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4.1
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-0.1
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Employment
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0.7
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0.2
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Unemployment rate
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12.8
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15.8
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Innovative companies in Slovakia will save their money
Since January this year in the new law on income tax deduction allowing additional costs of research and development, enabling each firm investing in the development of research to reduce their tax base by a quarter the value of their investment.
This scheme is intended for all companies, regardless of size, region or industry. All they need is to have sufficient research and development project, which will take place in Slovakia.
Read more: http://www.sario.sk/sk/novinky/inovativne-firmy-usetria-spytajte-sa-nas-ako
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Companies in Slovakia can get innovation vouchers for this year
At March 9, 2015 The Ministry of Economy announced a challenge for applications for grant subsidies through innovation vouchers. With the Gift Card entrepreneurs may pay for the services of research and development centers.
Innovation vouchers are financed from the state budget and encourage the development of innovative activities in enterprises. Businessman will get a voucher, which pays for the Scientific Research Centre for the implementation of innovative projects. The total nominal value of the vouchers remained the same as last year. For businesses employing up to 250 inclusive, is a 5 000 EUR. For larger corporate entities, the maximum support will be 10 000 EUR.
Read more: http://www.sario.sk/sk/novinky/firmy-mozu-aj-tento-rok-ziskat-inovacne-vouchery
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The possibility of participation of companies in exhibitions and fairs
By promoting participation in exhibitions and fairs abroad, its created space for the presentation of co-exhibitors at national stand of Slovakia to increase the export performance of Slovak entities and generally of Economy and allows preferential terms for co-exhibitors to present their range of products and business deals.
Read more: http://www.sario.sk/sk/novinky/firmy-mozu-aj-tento-rok-ziskat-inovacne-vouchery
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The Ministry of Finance wants motivate people to buy shares
The Ministry of Finance introduced changes that encourage Slovaks to purchase shares. Profits from the sales of securities should be tax free. But only in the case if their taxpayer will keep them at least for a year.
Read more: http://www.ta3.com/clanok/1060457/ministerstvo-financii-chce-motivovat-ludi-k-nakupom-akcii.html
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State launches the privatization of Telekom, ordinary people can buy the shares
State launches privatization of 49% stake in Slovak Telekom. Shares in the company will be able to order by ordinary people with a discount of five percent.
The state designated the limit for Telekom; € 750 million. It took nearly a year to determine the price at which it sells 49% of the shares of Slovak Telekom. Today, this boundary is finally known. Almost a half of the parastatal enterprise will be sold through the stock exchange.
Read more: http://www.ta3.com/clanok/1060383/stat-spusta-privatizaciu-telekomu-akcie-si-mozu-kupit-aj-bezni-ludia.html
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Cyprus’ adjustment programme
The adoption of the insolvency framework by the House of Representatives and the implementation of the law on foreclosures on the 17th April have put Cyprus back on track with its adjustment programme.
The implementation of these laws was a prerequisite of the Troika, which is expected to return to Cyprus this week to proceed with the completion of the fifth review of the country’s economic adjustment programme.
Read more: http://www.stockwatch.com.cy
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CIPA calls on House to expedite bills for facilitating foreign investment
The Cyprus Investment Promotion Agency (CIPA) called on the House of Representatives, in a recent letter, to expedite the approval of legislation aimed at facilitating foreign investment in Cyprus.
The implementation of these laws was a prerequisite of the Troika, which is expected to return to Cyprus this week to proceed with the completion of the fifth review of the country’s economic adjustment programme.
Read more: http://www.goldnews.com.cy/en/investment--wealth-management/cipa-calls-on-house-to-expedite-bills-for-facilitating-foreign-investment
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KPMG offers Cyprus Tax guide updated for 2015
KPMG started offering its Cyprus Tax Guide, updated for 2015.
The Tax Guide aims to provide a comprehensive introduction for KPMG clients and professionals on the main aspects of the Cyprus Tax System for non-resident investors and corporations.
Read more: http://www.kpmg.com/CY/en/IssuesAndInsights/ArticlesAndPublications/Documents/2015-documents/Tax-Guide-2015.pdf
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Minister announces tender for Limassol port privatization to be launched in May
Cyprus will launch a tender for the privatization of commercial activities at the Limassol port in May, Minister of Communications and Works Marios Demetriades said. Demetriades launched a series of contacts with the island`s political parties, to brief them on the progress of the privatization process.
Read more: http://www.goldnews.com.cy/en/shipping/minister-announces-tender-for-limassol-port-privatisation-to-be-launched-in-may
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Minister tells House casino license to be issued early next year
A bill governing the operation of casinos is expected to be put to the vote in May and the license will be issued around nine months later, Energy and Commerce Minister Giorgos Lakkotrypis told MPs on Tuesday. He also said that after the legislation is approved, the Government will allow a month for those interested to be informed and then go to the bidding procedure.
Read more: http://www.goldnews.com.cy/en/hotel--tourism--leisure/minister-tells-house-casino-license-to-be-issued-early-next-year
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Tourism - Leading the Country Back to Prosperity
On the basis of the results of the Passengers Survey, the arrivals of tourists in Cyprus reached 97 479 in March 2015 compared to 77 533 in March 2014, recording an increase of 25.7%. An increase of 35.5% was recorded in tourist arrivals from the United Kingdom (from 30 368 in March 2014 to 41 149 in March 2015), 50.0% increase from Greece (from 7 038 to 10 557 this year) and 14.6% increase from Germany (from 6 496 to 7 443 this year).
For the first quarter of 2015 the arrivals of tourists totaled 189 988 compared to 163 446 in the corresponding period of 2014, recording an increase of 16.2%.
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Cyprus Wineries
TOP Ratings
- Kyperounda Winery
- Tsalapatis Winery
- Tsiakkas Winery
- Vlassides Winery
Read more: http://wineriescyprus.com/
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Real Estate Sector - Total property sales
According to the data published by the Cyprus Department of Lands and Surveys, property sales in Cyprus have been increasing during the first three months of 2015 compared to the corresponding period in 2014.
The number of deeds of sale for all property types deposited at Land Registry offices across Cyprus were 1 098 in March 2015, compared to 948 contracts deposited during the same period in 2014 (increase 16%).
During the first quarter of 2015, 22.8% of total buyers (representing 250 deeds of sale) were non-Cypriots.
For the first quarter of 2015 the arrivals of tourists totaled 189 988 compared to 163 446 in the corresponding period of 2014, recording an increase of 16.2%.
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Citizenship by Investing
Economic citizenship program is granting accelerated citizenship to applicants in an effort to promote foreign investment into Cyprus. Qualifying applicants should receive their Cypriot passport within 60 days of the application.
Read more: http://www.moi.gov.cy/moi/moi.nsf/All/1562764E412F7B6DC2257B80005235CF
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Export forum for businesses in Cyprus May 13-17, 2015
Ministry of Foreign and European Affairs of the Slovak Republic and the Slovak Embassy in Nicosia inform the business community about the Export Forum for the entrepreneurs. The organizer of the event is the Cyprus Chamber of Commerce.
For information about the event, registration form and additional information can be found in the link below:
https://www.mzv.sk/App/wcm/media.nsf/vw_ByID/ID_010D23C442D90977C1257E04005106FA_SK/$File/EXPO-BROCHURE.pdf
https://www.mzv.sk/App/wcm/media.nsf/vw_ByID/ID_010D23C442D90977C1257E04005106FA_SK/$File/aplic-form.pdf
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Oil and Gas Conference May 14, 2015, Hilton Park Hotel, Nicosia
The Oil and Gas Conference offers a unique opportunity to get information on the global energy issues. It will focus on the current energy developments on a global scale and it is designed to present the new energy charter as new facts are coming up based on the discovery of new energy resources.
Finally, issues on International and European energy security will be addressed through presentations. The conference is designed to target senior executives of companies operating in the energy sector and in particular in natural gas and oil
Read more: http://www.imhbusiness.com/oil-and-gas-conference
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