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Financial Mirror (Cyprus) - - FRONT PAGE -

while the state telco may also take a 25% stake in LTV that may seek dual list­ing on the Cyprus and the Athens bourses.

Cyprus has un­til March 31 to re­quest a lower VAT rate from the EU on a small range of labour-in­ten­sive sec­tors, as is the case for all ten new mem­ber states up to 2010. Th­ese in­clude small re­pair shops, house ren­o­va­tion, win­dow clean­ing, do­mes­tic care and hair­dressers.

The Athens Stock Ex­change has seen about EUR 6 bln of in­vest­ments in Greek com­pa­nies chan­nelled through Cyprus, tak­ing

Re­duced VAT:

ASE in­vest­ments:

house

clean­ing,

Ho­tels

upgrade:

Hoteliers are be­ing of­fered in­cen­tives to upgrade their prop­er­ties, or face los­ing their star rat­ing, by a pack­age of mea­sures to en­cour­age in­vest­ments in fa­cil­i­ties, even tear­ing down some old build­ings, ac­cord­ing to CTO chair­man Pho­tis Pho­tiou and Tourism and Com­merce Min­is­ter Ge­orge Lil­likas.

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