Financial Mirror (Cyprus) - - FRONT PAGE -

by Car­refour Marinopou­los Chris Cash & Carry.

VAT is ex­pected to rise from the end of 2007 on food and phar­ma­ceu­ti­cals, from 0 to 5% and on restau­rant bills from 8% to 15%, while land pur­chases will also be sub­ject to the higher rate, as new mem­ber states were up in arms in the rate hike, while older EU na­tions were al­lowed to de­lay their higher VAT.

VAT rise:

LTV in dual list­ing:


Sub­scriber chan­nel Lu­miere TV is wait­ing for the green light from the SEC to list its shares on both the Cyprus and Athens stock ex­changes, some time by the end of the first quar­ter, based on higher earn­ings of CYP 12.5 mln in 2004,. Com­pared to 11.5 mln in 2003.





Cyprus Air­ways pi­lots will stage a four-hour warn­ing strike on Fe­bru­ary 9, protest­ing at the way the board and the govern­ment were han­dling the res­cue plan, in an ef­fort to win the Euro­pean Com­mis­sion’s ap­proval for a CYP 58 mln loan. The unions say the com­pany is try­ing to slip in fur­ther cut­backs through the back door.


Mar­cos Bagh­datis is headed straight home when he re­turns on Fri­day, af­ter mak­ing it to the fi­nal of the Aus­tralian Ten­nis Ope, only to lose to world champ Roger Fed­erer. Mar­cos’ mother An­dri was hos­pi­talised with stom­ach pains an was sub­jected to a mi­nor gall­stone op­er­a­tion.

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