Daily Archives: June 1, 2012

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Price ceilings on some basic goods

 

THE House yesterday passed a bill allowing the government to set a price cap on certain basic consumer commodities.

The bill, titled “Fixing price ceilings (retail and wholesale) in special cases, Law of 2011”, gives the Commerce Minister powers to order a cap on the price of whole milk (1 litre), common bread, bottled water, Cypriot coffee and electricity.

It empowers the Commerce Minister to order a price ceiling for any of these items for a period up to 45 days.

Originally, the bill’s stated aim was to prevent profiteering. The legislation initially referred only to milk, bread and water.

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Our view: Selfishness of pilots could finally kill airline

PASYPI, the Cyprus Airways pilots’ union, has never been renowned for its moderate or constructive approach to industrial relations. It regularly takes a hard line in disputes with the company, always putting the interests of its members above everything else. In the past, the union’s militancy paid high dividends, making its greedy members among the best rewarded employees of our society. 

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New economic measures are not ready yet

 

THE government said yesterday that if Cyprus sought an EU bailout it would be because of the need to recapitalise the banks and not because of the economy, as it reiterated that the main problem currently faced by the island is its banks’ exposure to Greece.

“The problem we are facing at this time is the recapitalisation of the banks,” government spokesman Stefanos Stefanou told reporters. “If we resort to the (support) mechanism it would be to recapitalise the bank and not because the Cypriot economy needs financing.” 

The government has said it will prop up the Popular Bank, which needs €1.8 billion to bring its core tier 1 capital to EU standards.

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Father's plea for help in finding his children

OVER A month has gone by since Marios Petrou reported the abduction of his nine-year-old twins by their Ukrainian mother, yet the authorities have yet to inform him on any progress made on the case, he says.

Petrou came home from work on constructions on April 30 to find his house empty, wardrobes and drawers bare, and not a toy in sight. His 35-year-old wife and their twin girls were nowhere to be seen and Petrou was gripped by a horrible feeling of dιjΰ vu.

For the second time in five years his family was gone. In late 2007, Petrou’s wife up and left under similar circumstances and cut off contact with her husband until she was found by Interpol months later in the town where her family lived in Russia.

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Unresolved issues block Chinese deal

STATE OFFICIALS will hold a key meeting today to examine existing options for overcoming the numerous obstacles holding up agreement on the proposed €600m Chinese investment at the old Larnaca airport.  

The ministerial committee set up to examine the potential investment will meet Attorney-general Petros Clerides to discuss whether the Cyprus-registered, Chinese-backed company Far Eastern Phoenix can extend its original 19-year agreement with Hermes Airports for a further 31 years with the state. 

The Chinese company proposes to transform 475,000 square metres of the old Larnaca airport into a commercial centre with a showroom and bonded facilities, providing some 4,000 booths for Chinese factories to display products. 

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Building sector protest against VAT law, which 'threatens its survival'

MEMBERS of the Employers and Industrialists’ Federation OEV and the Chamber of Commerce and Industry (KEVE) yesterday took to the streets to protest against new VAT regulations, which they say are threatening the future of the construction sector.

Representing 13 associations in the industry, the protesters, who decamped outside parliament, said they were forced to demonstrate, after their initial response fell on deaf ears.

Contractors are up in arms over the new law, which saw the authorities scrap the VAT contractors used to charge buyers, but not the VAT they had to pay on supplies. They say delays in being paid their tax returns has resulted in serious liquidity problems.

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Cyprus must change discriminatory rules on second-hand cars

THE EUROPEAN Commission yesterday formally requested Cyprus to change the way in which it levies registration tax on second-hand motor vehicles brought in from  other member states.

Under Cypriot law, the full amount of registration tax on the transfer and registration of a second-hand motor vehicle from another member state is applied, regardless of the age or the mileage of the vehicle. It is levied on the basis of the category of the vehicle, engine capacity and carbon dioxide emissions. Cypriot rules do not, however, take into account the depreciation of the value of second-hand vehicles when they are registered in Cyprus.

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Lillikas will leave Cyprus if he scores low on votes

 

PRESIDENTIAL hopeful Giorgos Lillikas will pack up and leave the island for good if he gets less than three per cent in next year’s elections, he has said.

Speaking on radio ‘Astra’, Lillikas said his candidacy was a given irrespective of the other parties’ decisions.

The former Foreign Minister, who as yet has no party backing, said he anticipates that he will progress to the runoff ballot.

In a display of political brashness, Lillikas went on to declare that he would leave Cyprus were he to garner less than three per cent of the popular vote.

His comments could be construed as being directed at the “in-between space” that has yet to agree on a common candidate.

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Net scammers

 

POLICE are warning the public to be careful of internet scammers posing as Microsoft employees.

Internet users have been getting emails and phone calls from people speaking English and posing as Microsoft employees. They then inform the person that they have a problem with their computer and ask for access to fix it. Once the person accepts, the fraudsters gain access to certain information. 

The person then receives a bill of €400. If the amount is not paid they bombard the person’s computer with windows.

Those who fall victim may also find that messages appear on their computer warning them about malicious software and urging them to pay a sum through Western Union to get rid of the software.

 

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