By Angelos Anastasiou
THE INTERNAL Revenue Department (IRD) has no mechanism to implement a clause in the immovable property tax (IPT) law which aimed to address the question of who should pay tax on properties sold without title deeds because it is unable to apportion blame for non-issuance, daily Politis reported on Monday.
On July 10, the House voted an amendment to the IPT law that removed the tax obligation on sold properties from developers and placing it…
Title deed fiasco haunts IPT collection
Anastasiades: we’ll seek help to pressure Turkey
By Jean Christou
CYPRUS WILL use its status as an EU member state, and will reach out to other countries involved in the peace talks to exert more influence on Turkey, President Nicos Anastasiades said yesterday.
Anastasiades was speaking after a 90-minute meeting with Greek Prime Minister Antonis Samaras in Athens during a two-day visit to the Greek capital.
The focus of the visit is mainly the stalled Cyprus negotiations with Anastasiades briefing Samaras on recent developments….
Central Bank in charge of FBME’s fate
By George Psyllides
THE ENFORCEMENT of anti-money laundering (AML) measures is the exclusive responsibility of the Central Bank (CBC), the anti-money laundering unit MOKAS said on Monday.
MOKAS’ statement came in response to media reports that followed the US Treasury’s announcement that Tanzanian-based FBME Bank had been deemed a “primary money laundering concern”.
Following the US Treasury’s announcement, the CBC last week put the FBME under administration and suspended its operations.
Tanzania’s Central Bank followed suit,…
Six months to appeal new IPT valuations
By George Psyllides
PROPERTY owners have six months to appeal the government’s evaluation of their real estate and correct any other mistakes made in the process of fixing immovable property tax (IPT), officials said on Monday.
The new 2013 values have been published on the land registry’s website though access was impossible on Monday, possibly due to heavy traffic. These new values will be used for accessing and paying IPT from 2015. This year IPT will be assessed…
Ryanair not ‘particularly interested’ in Cyprus Airways
RYANAIR boss Michael O’Leary said on Monday that the airline was not particularly interested in acquiring troubled Cyprus Airways, which he said had huge legacy issues.
Ryanair was among nearly 20 companies which last week submitted a non-binding expression of interest in Cyprus Airways, now controlled by the government. The process is a preliminary step towards any eventual binding offer by any bidder.
“We are not particularly interested in Cyprus Airways which has huge legacy issues: pension scheme,…
Demetriades denies hiding lower bailout estimates
By Jean Christou
FORMER Central Bank Governor Panicos Demetriades has hit back at a New York Times (NYT) article saying he had withheld from the new government a report by BlackRock, which limited the capital needs of the Cypriot banks to €8 billion instead of the €9 billion estimated by rivals Pimco.
In his response, published by Stockwatch, and on Monday by Politis, Demetriades called last week’s NYT article “unsubstantiated, inaccurate and misleading”.
He said the article…
Nibali emulates Pantani as Italian Tour de France winner
By Julien Pretot
Vincenzo Nibali became the first Italian to win the Tour de France since the late Marco Pantani on Sunday, dominating his rivals on all terrains as his main rivals crashed out of a superb three-week race.
While Italy celebrated its seventh Tour winner, a jubilant France hailed its first double podium finish in 30 years as veteran Jean-Christophe Peraud and youngster Thibaut Pinot took second and third respectively.
“We are very happy, it’s a beautiful victory….
Read MoreRocket ignites blaze near Tripoli airport, Libya in chaos
By Patrick Markey
A rocket hit a fuel storage tank in a chaotic battle for Tripoli airport that has all but closed off international flights to Libya, leaving fire-fighters struggling to extinguish a giant conflagration.
Foreign governments have looked on powerless as anarchy sweeps across the North African oil producer, three years after NATO bombardment helped topple dictator Muammar Gaddafi. They have urged nationals to leave Libya and have pulled diplomats out after two weeks of clashes among rival factions…
Read MoreOnline road safety advice
By Evie Andreou
THE police have posted on their Facebook page basic road safety advice for driving on the highway in the wake of the recent high death toll which saw seven deaths in separate accidents in just one week.
“It is advice for the public for their own safety,” a police spokesperson said on Monday.
In response to the alarming death toll, Justice Minister, Ionas Nicolaou said last week that his goal was to continue the…
The best of the last year of cinema
By Preston Wilder
I’ve been doing this for years, ‘this’ being a recap of the films released in Cyprus over the past 12 months – cleverly timed for mid-summer, when the local scene ebbs into near-hibernation – but this year is different, because of the context. I’ve just returned from two months devoted to a personal project (making a film of my own, as it happens), granting me a certain perspective I haven’t had in previous years. In the past…
Read MorePoland and Canada take titles at Under-21 Beach Volleyball World Champs in Larnaca
By Andreas Vou
THE Under-21 Beach Volleyball World Championships, held on the Finikoudes Beach in Larnaca, drew to a close on Sunday, with Poland and Canada claiming the gold medals in the men and women’s categories respectively.
Following on from the tournament’s under-19s edition held in Larnaca in 2012, the coastal city once again hosted the championships with resounding success, as the finals were attended by just over 2,500 spectators.
The matches began on Thursday and ran through until Sunday’s…
Read MoreA whole week of music
By Alix Norman
This week sees the musical highlight of the summer months, an event which – over the past three years – has drawn crowds from all over the island and beyond. Now in its fourth year, Fengaros Music Festival is back with a bang, truly establishing itself as one of the most important happenings at the hottest time of the year. A mixture of musical acts and – for the first time – a series of workshops, the…
Read MoreKiller coastline claims 15th victim
By Bejay Browne
PAPHOS beaches head is pressing for permanent measures to be undertaken at a deadly stretch of coastline which claimed its 15th victim on Sunday.
A 60 year old Russian tourist drowned at around 6.30pm in the deadly seas off the Chlorakas coastline, in front of his wife and ten-year-old son. Attempts were made to resuscitate the man but police said he was pronounced dead at Paphos general hospital.
He was the 15th victim to lose his life…
Read MoreHague court orders Russia to pay $50 bln in Yukos case
By Megan Davies and Vladimir Soldatkin
The Hague’s arbitration court ruled on Monday that Russia must pay a group of shareholders in defunct oil giant Yukos around $50 billion for expropriating its assets, a big hit for a country teetering on the brink of recession.
The Hague court said it had awarded shareholders in the GML group just under half of their $114 billion claim, going some way to covering the money they lost when the Kremlin seized Yukos, once…
Read MoreForestry department warns against use of Chinese lanterns
The forestry department on Monday warned against the use of Chinese lanterns deeming them a hazard to the environment.
In an announcement, the department said the lanterns, which carry a small candle, are uncontrollable and pose a high risk of causing forest fires when they fall.
It is also illegal to import them to the island, it said. Despite this use of the lanterns is widespread at weddings, christenings and other events, it added.
“They are considered a threat to…
Read MoreThe astronomically expensive cars that you know a footballer will want to buy
Footballers make a lot of money and they love to show everyone just how much, because the more money they have to blow on crap, the more important they must be.
William Gallas splashed the cash on a chrome Mercedes McClaren and El Hadji Diouf’s gold-plated Cadillac Escalade was cute.
Jermaine Pennant’s £200k chrome Aston Martin was certainly an ostentatious display of wealth, but if you’re going to fly about in a status symbol, then nothing says how rich…
Pakistan mob kills woman, girls, over “blasphemous” Facebook post
By Syed Raza Hassan
A Pakistani mob killed a woman member of a religious sect and two of her granddaughters after a sect member was accused of posting blasphemous material on Facebook, police said Monday, the latest instance of growing violence against minorities.
The dead, including a seven-year-old girl and her baby sister, were Ahmadis, who consider themselves Muslim but believe in a prophet after Mohammed. A 1984 Pakistani law declared them non-Muslims and many Pakistanis consider them heretics.
Police…
Read MoreOne dead after lightning strikes crowd at California beach
One man died and at least eight people were injured on Sunday in a lightning strike during a rare thunderstorm at Venice Beach in Los Angeles, officials said.
The bolt of electricity made a loud crack that sounded like an explosion on a warm and overcast afternoon, witnesses said.
“I heard this crackle and there was this giant bolt of lightning shooting across the sky and the loudest thunder I’ve ever heard,” witness Joe Doro told KCAL-TV.
Victims were apparently…
Read MoreFighting complicates Ukraine crash probe, U.S., EU prepare Russia sanctions
By Aleksandar Vasovic
Fierce fighting in eastern Ukraine where a Malaysian airliner was downed further complicated an investigation on Sunday as Europe and the United States prepared economic sanctions on Russia over the conflict.
At least 13 people were killed in clashes between Ukrainian troops and pro-Russian rebels that raged in five areas around the wider region.
International monitors said they had abandoned plans to visit the crash site because of fears it was not safe, even though Malaysia said…
Read MoreAustralian Ricciardo wins dramatic Hungarian Grand Prix
By Alan Baldwin
Australian Daniel Ricciardo won the Hungarian Formula One Grand Prix for Red Bull on Sunday while Lewis Hamilton roared from pitlane to podium in another astonishing performance by the Mercedes driver.
Ferrari’s Fernando Alonso was second and championship leader Nico Rosberg, who started on pole position for Mercedes, finished fourth and saw his lead over Hamilton cut from 14 points to 11.
Instead of Rosberg and Mercedes running away with the race, the race ran away from…
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