Tele­com rate cuts, bank costs soar

Financial Mirror (Cyprus) - - FRONT PAGE -

State-owned telco Cyta has ig­nored the reg­u­la­tor’s or­ders to re­verse in­ter­na­tional call rate cuts, while rais­ing the monthly rental from CYP 5 to 8 has been blocked, and a ECB re­port found that Cyprus banks have among the high­est cost to in­come ra­tions among new EU mem­ber states, ac­cord­ing to the is­sue 615, on April 6, 2005.

Cy­has ig­nored calls from the tele­coms reg­u­la­tor forc­ing it to re­verse the steep price cut in in­ter­na­tional call rates, say­ing that it has not been in­formed of the de­ci­sion, which fol­lowed com­plaints from al­ter­na­tive providers Areeba,



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