The FBI is investigation allegations that millions of dollars ended up in a Cyprus bank after they were diverted from an Oklahoma State University owned company. A Lawsuit has been filed against the former director of Triton Scientific, which was contracted to run OSU-Multispectral Laboratories and also names his wife. According to the lawsuit funds […]
The VAT rate of 19%, which is charged on the supply of goods or services, will come into effect on the 13/01/2014. The reduced rate of 5% remains unchanged for food, medicines, books, leaflets and printed materials, hairdressing services and renovation and repairing of private houses. The reduced rate VAT of 8% will increase to […]
The report published by Transparency International ranked 177 countries in terms of corruption and ranks each country on a scale from 0 (highly corrupt) to 100 (very clean). Cyprus received 63 points, ranking them 31st. In 2012 the island was ranked 29th, 30th in 2011 and in 28th place in 2010. A press release published […]
Cyprus credit rating has been lifted to B- from CCC+ with Standard & Poor’s keeping the islands outlook as stable. It is the first time in three years that Cyprus rating has been lifted. Standard & Poor’s commented that the immediate risks relating to the austerity programme had receded and was confident that the goverment […]
The banking system in Cyprus has moved on from the crisis-resolution stage, according to Isobel von Koeppen Mertes, Advisor in the European Central Bank Market Operations Analysis Division, speaking that the Economist 9th Cyprus Summit on Monday. She also noted that Cyprus has made “huge progress” when it comes to the stablisation of the banking […]
At the recent Global Forum on Tax Transparency and Exchange of Information for tax purposes, held in Jakarta, Cyprus was assigned an overall rating of ‘non-compliant’. The government has since pledged to implement the necessary actions, to improve the countries’ overall compliance in terms of tax transparency and the exchange of information for tax purposes. […]
Cyprus is to receive 100 Million Euros, within the framework agreed by the Cyprus government. The additional funding was secured by the government back in June at the European Council under the EU Cohesion Policy. The money will be utilised for infrastructure projects across the island with the aim of tackling unemployment, Government Spokesman Christos […]
Infocredit Group is pleased to announce our involvement as the Official Knowledge Partner for the 2013 InBusiness Awards, here in Cyprus. The InBusiness awards aim to put Cypriot businesses and business people under the spotlight and honour their contribution to the local business environment. The InBusiness awards, award businesses both new and established, entrepreneurs, products […]
The Bank of Cyprus has announced John Hourican as the new CEO, ending the uncertainty surrounding the island’s biggest lender. The bank’s new board had finalised a short-list of four candidates for the top job, including Mike Aynsley, former CEO of the Irish Bank Resolution Corporation. Interim CEO Christos Sorotos’s name was not included in […]