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Media Centre

VAT rise in force today

  • Monday, 13 January 2014 09:02
VAT will go up one percent to 19% this morning, as the bailout memorandum obligation comes into force, further dampening market conditions and consumer confidence.
Israel, seeking to tap recent natural-gas finds for export, plans to build a pipeline from the Dead Sea to the Jordanian border to supply its neighbor, two people with knowledge of the matter said.

Electricity prices drop down 17.5% in 2013

  • Tuesday, 07 January 2014 13:13
The Cyprus Electricity Regulatory Authority (CERA) chairman Giorgos Siammas has said that electricity prices were reduced by 17.5% for the average household last year.

Fitch: Pressure on covered bonds to ease in 2014

  • Wednesday, 18 December 2013 08:14
Fitch Ratings expects downward pressure on covered bond ratings to ease in 2014 due to the stabilisation of sovereign rating outlooks. However, it said that most covered bond ratings in Cyprus, Greece, Ireland, Italy, Portugal and…
THE GLOBAL financial crisis, dating back to the collapse of Lehman Brothers, Arthur Andersen and Enron, continues to ripple its devastating after-effects, while regional economies, such as the European Union, scramble to find convincing answers to…