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If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the confirmbets predictions website. However, if you would like to, you can change your cookie settings at any time. Both sets of fans will tune in on Wednesday night to cheer the respective teams in this game.
Which one of the sides will pick up a win in the first half of this doubleheader? This encounter will be the first European meeting between these teams. Although they met in a friendly game two months ago, in which the Greek outfit won, this would be both side's first real taste of the other's style of play. Omonia Nicosia is heading into this game looking to book themselves a place in the group stage of the UCL for the first time. Unlike their opponents, the Greek champions have a wealth of European experience to boot.
Given this, they would be looking to take advantage of that- alongside home advantage- to kill the tie in this leg. Olympiacos got off to the best possible start in their opening match last weekend. Pedro Martins and his troops downed Asteras Tripolis via a comfortable score-line with all three goals scored in the final 30 minutes of the game.
The opposition defence couldn't contain Giorgis Masouras as the Greek midfielder bagged a brace only after coming on in the second half. Olympiacos is one of the ever-present teams in European competitions. However, their performances in said European competitions isn't impressive as they've made it past the last stage only once in their illustrious history.
They finished level on points with second place Anorthosis who even won more games than the eventual champions. The Nicosia-based side edged their opponents via goal difference having conceded lesser goals. However, they haven't hit the heights in the four games played this new campaign.
Although eight points from the opening four games isn't a bad record, it cant be termed 'defending champions' quality. Karmiotissa RANK Today Match Prediction gives you the best daily predictions and all sports betting tips. Here is a listing for today's matches list with predictions. Who Will Win Today Match check our predictions. Predictions, tips and stats for Karmiotissa matches. Karmiotissa attack strength, Karmiotissa defence weakness and Karmiotissa recent form analysis. Karmiotissa win chanches.
Predictions, tips and stats for Apoel Nicosia matches. Apoel Nicosia attack strength, Apoel Nicosia defence weakness and Apoel Nicosia recent form analysis. Apoel Nicosia win chanches. Today Match Predictions of all the international matches and domestic matches of all countries.
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What is its main purpose and who will make up its main readership? The Handbook of Cyprus Laws is intended as a vade mecum that legal practitioners can carry with them and refer to at any time. It provides the full text of all the laws that are encountered in everyday legal practice, together with a commentary and analysis of the relevant case law compiled by a specialist in the particular field. Its main readership will be legal practitioners, but it will also be useful to others who deal with legal matters.
Is this the reason for the update? A few years ago, with the development of new paints, that metaphor became outdated and people started looking for a replacement. The law is constantly developing, and, of course, there is a constant flow of new case law. But that is only part of the story. The new. Within its 1, pages, the book contains the main pieces of legislation in force in Cyprus today.
How much did you leave out and why? We focused on the 33 basic laws covering the areas the practising lawyer encounters day in, day out. To name but a few, they include contract law, criminal law, family law, company law and property law.
The areas that had to be left out were highly specialised ones such as competition, banking, intellectual property and securities law, that the general legal practitioner rarely encounters. How did you go about gathering all the information? Or was the real work done for the 1st edition? A great deal of work was indeed done for the first edition, but the second edition has required a complete update and revision of every chapter, to take account not only of amendments to the laws, such as the International Trusts Law, but also of important cases in the courts that shed light on the interpretation of the laws.
Every author is a specialist in his or her particular field, and is fully abreast of the latest developments, and our firm has an advanced knowledge management system to support them. However, there was. This usually had to be fitted into or at the end of a busy working day and I am grateful to all my colleagues for their dedication to the task. The book is in Greek. Are there plans for any foreign-language translations?
The book is aimed at lawyers practising in Cyprus and is in Greek because that is the language currently used in the laws and in the court system. At present there are no plans to publish it in other languages. Perhaps one day there will be a place for a Turkish-language version, but that depends on a lot of things. Which future legislation do you hope will be in force in Cyprus by the time the next edition of the book is published? Personally, while the publication of a Turkish language version of the book may have to wait a little longer, I hope that we are closer to an end to the division of Cyprus.
We are a global, independent provider of trust, fund and corporate administration services. We are committed to helping our clients protect, nurture and grow their wealth. Above all, we are a people business. To find out more about our services and to get to know us better, visit www. In this exclusive interview with Gold, President Anastasiades sets out his priorities for attracting new investment and improving existing public and private sector services. Gold: Do you endorse the view that the professional and financial services sector has the potential to become the area of the economy which will boost growth and create further prospects amid what has been the worst financial crisis ever experienced by the island?
Nicos Anastasiades: The professional and financial services sector has been the most dynamic sector of the Cypriot economy during the last 20 years. It is currently the fastest-growing sector and is indisputably a major source of future growth. International services grew on average by 8. It is probably the only one that has proved resilient in this recession and this resilience indicates that, if we actively try to change things for the better, the possibilities are almost unlimited.
The further enhancement of the sector is at the top of my agenda. I intend to devote as much of my personal time as necessary to meeting with leading professionals to discuss current problems and to agree on a mutually accepted strategy to resolve them. Gold: Do you have specific issues in mind? We want our economy to be assessed as an AAA economy and not as a junk. Measures such as improving services at the office of the Registrar of Companies, reducing bureaucracy in the civil service, setting up specialised teams at the Ministry of Finance to work with the private sector on drafting new legislation will definitely help Cyprus develop further as a regional.
But you must bear in mind that it is not only the public sector that needs to change. The private sector also needs to realise that it has to adhere to strict regulations and rules. This will also improve our reputation as a quality place to do business. Is the damage irreversible? It is, though, an extremely difficult task.
How I will do it? Our government has no qualms about defending its businesses and its financial sector and no ideological obsessions at all. If I have to make interventions to attract investors, to open doors for our businesses and the financial sector I will do so. I intend to invest time and money in this.
Restoring confidence is at this point in time of the utmost importance. This inevitably undermines confidence and the growth potential of the economy. Restoring and maintaining the liquidity and capital adequacy of the banking sector is also a priority.
Measures to strengthen. The budget used to as a be used to as a place the supervisory framework of the financial services sector will also have a substantial effect on our ability to regain credibility as a financial services centre. There are other measures too.
In the competitive business environment in which we are operating, speed and efficiency are imperative. Our objective is to treat foreign investors as clients and our system needs to be clearly client-oriented. Gold: What do you plan to do to accelerate the process of registering companies?
Most countries competing with Cyprus offer approval of a company name within 24 hours. Additionally, the Inland Revenue Department IRD needs to be fully computerized and it must also set up an international tax affairs section. Very high on our list of priorities is the setting up of a one-stop shop, under the Cyprus Investment Promotion Agency CIPA , which will be given specific administrative powers so as to coordinate various government departments such as the Registry of Companies and the Inland Revenue Department IRD.
Personnel from the VAT service, the department of social insurance, and the department dealing with residence permits must be seconded to help with a one-stop shop. Overall, procedures in the public sector must be simplified and to this end we will appoint a Presidential Commissioner whose terms of reference will focus on cutting down unnecessary processes and combating bureaucracy.
We will also introduce Enterprise Centres which will provide all kinds of services to businessmen and will operate based on the model on which the Citizen Service Centres currently operate. How do you plan to support CIPA? Money is definitely needed if we are going to place advertisements or have a presence in the international media. In this respect I will pursue better cooperation and leverage between CIPA and the Cyprus Tourism Organisation as the latter has a large budget at its disposal for promoting Cyprus abroad.
Currently that budget is used to promote Cyprus solely as a tourist destination but it can also be used to promote the island as a place to do business. We need to build the brand of Cyprus as a country and as a quality business destination, as other jurisdictions do. Gold: Financial sector professionals in Cyprus have told us that a major deficiency concerns the need for legislation covering the establishment of contemporary financial products.
Also, after so many years of discussion, debate and stressing the need to put the necessary framework for leasing in place, it is about time we did it. Gold: It has also been noted repeatedly by the professionals that any respectable financial centre should have at least one major international bank. I agree that we need to attract a foreign international bank and I am hopeful that we will succeed. Gold: The number of double taxation treaties that Cyprus has signed is often cited as an advantage but many of the treaties are outdated and need to be renegotiated e.
At the same time Cyprus needs to draw up agreements with countries such as Brazil, Mexico, Argentina, Japan, Australia, etc. How high is this matter on your list of priorities? I intend to create a dedicated tax team for double taxation treaties which will review the current agreements and negotiate their updating as well as engage in discussions on the drafting of new treaties. I am also committed to the establishment of a special Tax Advisory Board comprising technocrats from the public and private sectors, with the purpose of proposing institutional changes and following developments in other competing jurisdictions.
Cyprus has to keep up with the times and the competition in order to remain a competitive business centre. Cyprus is the 10th largest flag globally, the 3rd largest flag in the EU and the biggest Shipmanagement Centre in Europe and the 2nd largest in the world. On the following pages we present the views of the people who know shipping best: the President and the Director-General of the Cyprus Shipping Chamber, and six of the ten members of the Board of Directors, each of whom is the CEO of a leading shipping company.
By John Vickers. Gold: Just how big is the Cyprus shipping industry? Thomas Kazakos: The shipping companies that are members of the Cyprus Shipping Chamber collectively control a fleet in excess of 2, oceangoing ships of 49 million gross tons.
To put this in perspective, the Cyprus flag is the 10th. If all the ships under our control were under the Cyprus flag today, it would probably be the 3rd largest in the world. So Cyprus has a fully-fledged, fully operational industry in almost all sectors of shipping internationally.
Shipping is a high-value asset industry and if you bear in mind that the value of an average-sized vessel of an average age could vary from a few dozen to hundreds of millions of dollars and the fact that through Cyprus we control in excess of 2, ships, you can. Gold: Those numbers are impressive. Because a ship is an extension of national territory so whenever a ship calls at any foreign port the first thing that happens is national sovereignty recognition.
For a ship to be allowed to enter any national territorial waters, let alone a port, it means that country recognizes Cyprus as an independent state. It is a negative fac-. Gold: What does the shipping industry contribute to the Cyprus economy? So Cyprus has a vibrant industry and for us to compete with the biggest international players on an equal footing shows that the calibre.
That said, shipping is a cyclical business and it is inevitably affected by the global economy. Between and we had fantastically good years. Shipping tends to have good years followed by years of readjustment. Unfortunately, these have already been extended to 5 years of extremely bad and unpredictable freight rates. Gold: Is there light at the end of the tunnel?
And even during these bad times when every industry has suffered, we have not lost a single company. Some have had to restructure their debts from loans taken out for the building of new ships and some have gone through a heavy rescheduling of their day-to-day operations but they are all still here. Gold: What are the steps that will ensure a bright future for the Cyprus shipping industry? Constitutionally, until there is a settlement of the Cyprus issue, new ministers cannot be appointed but we have seen that it is possible to appoint an UnderSecretary to the President for Merchant Shipping.
All three main candidates in the recent elections gave a written commitment that they would create this position which will have direct political supervision of the Department of Merchant Shipping. Gold: What else will the Under-Secretary for Shipping do? And we need to bring more in more companies. We have the infrastructure, the know-how and the quality of service. Now we also have a good image and an acclaimed tax system.
So we must make sure that we keep our existing shipping companies and bring more. Another key duty of the Under-Secretary will be representation. It will say that, when it comes to shipping, Cyprus is on the right track and it has tangible positive prospects, despite the huge financial turmoil in terms of low freight rates and bank liquidity problems, etc. When the global downturn ends, we shall be one step ahead of our competitors and President Anastasiades will be giving a very clear political message of support and attention to the industry.
All we need now is a strong industry-oriented person to take us forward, hand in hand with the private sector. Gold: What are the objectives of the Cyprus Shipping Chamber? Like any other trade association around the world, we basically provide three services: First, the promotion and protection of the legitimate interests of our members both in Cyprus and abroad.
Over the years we have developed a relationship of trust with all the relevant government departments to the extent that we are now involved in any decisionmaking structure with ministries, the Department of Merchant Shipping, the House of Representatives, etc. No relevant law is discussed without the Chamber being present.
We also represent the Cyprus shipping industry in the Brussels-based. When, about 10 years ago, the ICS decided to set up a specialized working group to draft the guidelines that shipowners worldwide should take into consideration before choosing which flag to register their ships with, only 6 of the 46 international associations were invited to join it and Cyprus was asked to chair the whole process.
Those guidelines were later adopted by the International Maritime Organisation and they are still used as a reference. Gold: You mentioned three services. First lobbying and representation. Before the Chamber was set up in as the Cyprus Shipping Council , the shipping companies in Cyprus were in competition with one another.
They did not speak with one voice and there was no corporate social responsibility image. We have managed to bring our members together and make them feel that they and their families belong, know one another and are friends.
Gold: For such an important industry, shipping in Cyprus remains remarkably low-key. In my view, though, we need to build up and promote our corporate image even more and, in particular, our corporate social image. Gold: How else has the industry developed over the years? We worked with the administration for more than ten years to. The Department of Merchant Shipping was computerized, new inspectors were appointed, we adopted a zero tolerance policy to substandard shipping and we raised standards.
Then for another ten years we worked on what is now one of our biggest achievements: the negotiation and approval of our tonnage taxation system. Since March we have had perhaps the most competitive taxation system for shipping in Europe. Our system is truly transparent and legally approved by the strictest standards of the.
European Commission. In this way, Cyprus will attract more ships to the Cyprus Registry and more shipping companies to establish their offices in Cyprus, which will have a positive impact on the economy. There is no shortage of work to be done! Eugen Adami, President of the Cyprus Shipping Chamber, sees this as a major step forward for the industry.
Gold: How important to the industry is the appointment of an Under-Secretary for Shipping? Gold: Another major change for Cyprus has been the discovery of natural gas. Do you see this as having a positive effect on Cyprus shipping too? Cyprus can develop into an important Energy Centre in the Mediterranean. Strategic partnerships with careful management and well-prepared development plans can create new and vibrant shipping and energy projects with great financial benefits for the economy.
At the same time, this important development will give Cyprus. Gold: So you are optimistic about the future of the industry E. Cyprus has the potential to become one of the largest, all-embracing shipping centres in the European Union and the world.
The development and diversification of almost all shipping activities in Cyprus is a must. It will enable its Maritime Cluster dynamics to grow and, at the same time, it will enhance the substantial contribution of the shipping industry to the economy. Cyprus is an established European and global shipping centre in which your company has shown confidence for many years now. What attracted your company in Cyprus in the first place and what is it that continues to keep you here?
Are other shipping centres gaining ground on Cyprus because of the advantages and privileges they can offer companies such as yours? Through its Cyprusbased head office, Columbia provides full management and crewing services to more than vessels of all types around the world. It also provides shipowners with a comprehensive range of services including ship operations, chartering, new building supervision, sales and purchase and other associated consultancy services.
These, combined with the excellent climate that every Northern European dreamed of, a good private school system, advanced telecommunications and the ability to work with the Far East in the morning and the US in the afternoon, meant that few other places could compare.
Since then a lot has changed. European Union membership in brought the biggest change to the island, followed up by the adoption of the euro in Over the years, Cyprus may have lost some of its comparative advantages over other countries, mainly because they have copied the Cypriot model but without the bureaucracy which has been one of the major obstacles to further growth.
However, it remains attractive not only because of the quality of life that it offers which others cannot match but also thanks to the hard work put in by a lot of people in the industry to keep one step ahead of those others. The Turkish embargo on Cyprus ships and companies operating out of Cyprus has not been an obstacle as such but it has affected the further development of the shipping community.
It is not a matter of privileges. Cyprus retains a lot of them. What Cyprus has not managed to become is an all-round shipping centre. Despite the favourable legal framework especially after the enactment of the new Tonnage Tax legislation, it has not managed to attract owners, charterers and other shippingrelated businesses from other main shipping centres. They prefer to maintain their presence in more traditional maritime centres such as London, New York or Piraeus where the cluster consists not only of shipowners but of banks, insurance companies and law firms among others.
In Hanseatic Shipping combined forces with three other shipmanagement organisations to establish Bernhard Schulte Shipmanagement, a group providing an unparalleled range of maritime and engineering services. Cyprus remains one of the most competitive locations for shipmanagement, especially following its success in gaining European Commission approval for the taxing of shipmanagement companies under the new Tonnage Tax.
Cyprus still remains the biggest third party shipmanagement centre internationally. However, this should not make the authorities or, indeed, the companies relax as a number of other countries within and outside the eurozone are trying to compete. The success of Cyprus two years ago in extending the Tonnage Tax system to other areas of shipping with the blessing of the European Commission raised Cyprus to another level.
Certain other aspects of the general legislation also give an added advantage. Cyprus has always been an important maritime centre with tremendous commercial importance. Modern shipping history started in Cyprus as recently as and since then Cyprus has become a strategic player in the maritime industry and one of the most important domains for third party shipmanagement. The CSC has been trying for years to convince the Cypriot authorities to appoint either a minister or a deputy minister for Maritime Affairs.
These efforts were made in an attempt to remove bureaucratic delays and resolve other pending issues for the shipping industry and the flag. We sincerely hope that this will become reality very soon. The human element is also important and Cyprus needs to build on this locally. This has always been one of the leading factors attracting the industry to operate from Cyprus. It manages all its owned fleet and offers third party shipmanagement services to reputable owners.
The ship management division of the Group has expanded exponentially over the years and it offers a complete range of services such as crew, technical and commercial management as well as chartering and operation. Another important attraction of Cyprus is the availability, cost benefits and standard of its human resources. Due to the expansion of shipping activities on the island, the number of highly-educated, experienced personnel makes the running of operations with experienced local residents practical.
From my perspective, Cyprus has been and will continue to be the place to run shipping and associated business! Cyprus has been and will remain a very attractive location for foreign and local shipping companies. As a local Cypriot company we have benefited, like all foreign companies that have. Many countries have managed to create a positive status for themselves over the years but we at Lemissoler believe that Cyprus remains one of the key players in the global shipping industry.
We hope that the government will continue to support the industry and protect the Tonnage Tax system and the announced post of an Under-Secretary for Shipping should become effective the soonest possible. Apart from the lifting of the Turkish embargo, what Cyprus needs is strong ship financing representation by the major foreign banks and the adaptation of legislation to accommodate the operation of Hedge and specialized Shipping Funds.
Furthermore, the government should support research by local universities by allocating adequate funds and giving incentives to develop systems related to our industry and the protection of the environment. It goes without saying that the Department of Merchant Shipping, which is one of the most efficient governmental departments in Cyprus, should continue to improve its systems, its responsiveness and attractiveness, and to promote the Cyprus Flag as one of the best worldwide.
Ltd was founded in A member of the Hartmann Group, it is primarily a shipowning company but it has expanded into full management for a small number of owners. Intership presently manages a fleet of general cargo ships, bulk carriers and product carriers. In addition to the full management, Intership is crew manager for a further vessels of a diverse group of owners.
The crewing department is today employing some 5, seafarers of various nationalities. Intership Navigation celebrates its 25th anniversary this year. Whilst Intership was. Cyprus was established. So those shipping centres Rohdenburg, Managing which have been established more recently Director, will need time to replicate a similar cluster Intership to that existing in Cyprus. Navigation Co Ltd 3. The existing shipping cluster should be expanded to include a broader representation of the commercial sector of shipping.
It would also be a major step forward if ship financing banks could be attracted to operate from Cyprus. The Turkish embargo of the Cyprus flag and vessels managed from Cyprus continues to be a major problem for those operating ships from Cyprus. The shipping community hopes that this matter will be resolved as soon as possible. Today, as the biggest Cyprus-owned shipping company on the island, we maintain our commitment to Cyprus and, despite our international presence and several branch offices around the world, we maintain our headquarters in Limassol.
Today the Group employs shore-based employees and over 3, seafarers, and manages a fleet of vessels through its offices in Germany, the USA, the Philippines, Latvia, Ukraine and Russia. Interorient is a founder member of the Cyprus Shipping Chamber. Many changes have taken place over the past thirty years which have seen multiple jurisdictions offering shipping companies similar benefits in order to attract them.
The benefits of the Tonnage Tax system that we have in Cyprus today, for example, are also found in most if not all other EU countries. Further afield, Singapore, Dubai and Hong Kong have all become big hubs for ship management activities. It is not really a question of ranking between the different shipping centres. What is important is for Cyprus to continue to try and offer the most attractive.
Interorient has been active in Cyprus since , at the time when Cyprus was beginning to establish itself as a shipping centre. The attractions for a shipping company operating from Cyprus at that time are well-known and include the good taxation regime, a high level. What would greatly strengthen the presence of shipping companies here in Cyprus would be a solution to the ongoing Turkish embargo.
Many existing shipping companies and providers of ancilliary services also serve the offshore industry and I believe that Cyprus will achieve this goal within the next few years. Ltd was established in by Hermann Eden who currently holds the position of Chairman. Marlow Navigation, and its worldwide representatives supply the full range of third party ship management.
These are the things that have kept our company in Cyprus, together with the availability of skilled personnel for all the services provided, the excellent and efficient communications network and the. Steps need to be taken to maintain the competitive tax advantage of Cyprus.
Confidence Building Measures are needed in respect of business sustainability and a specialised unit for the promotion and administration of shipping should be created. The company manages a fleet of more than vessels, ranging from 10, to , dwt. Cyprus enjoys a strategic location and offers an excellent infrastructure in terms of facilities, professional services and human capital.
Strong support from all administra-. This blend of excellent local and international support through the government, the availability of highly-educated staff and the network of lawyers, accountants and bankers has kept us in Cyprus since The most recent serious threat is the expansion of the Maltese Ship Registry which has developed into one of largest in Europe and the world.
And of course it also has the advantage arising from the prohibitions imposed on Cyprus flagged vessels by Turkey. The appointment of a dedicated UnderSecretary for Shipping is essential. Also, automated and online one-stop shop services in the public sector are needed. The John Hadjiparaskevas, foremost measure, however, should be Director, Uniteam for the the government to do everything Marine Ltd possible through the European Union and other fora to obtain the lifting of the Turkish embargo.
The Time is Right for the Fund Industry Growth in the financial sector may be based on this promising key area. The evolution of the sector however, may well be based on a promising key area: the fund industry. If anything positive may be taken from the postLehman and sovereign debt crises, it is the revelation of the opportunities offered to the local financial sector and particularly the fund industry. Amidst all the turmoil, it has gone relatively unnoticed that the Cyprus Securities and Exchange Commission has successfully integrated all the important European directives linked to the fund management industry and its managers while other mature fund centres are still boasting their expertise on technicalities.
The new fiduciary law is another evolutionary step impacting the fund services sector that brings Cyprus a little bit closer to the models of Malta or Luxembourg which are the inspiration behind the newly-created Cyprus Investment Fund Association. This year, the revamped International Collective Investment Scheme Law will come to complete the regulatory picture of a promising fund centre. With 94 ICIS Funds as of November and a possibly good number of applications pending, it is undeniable that the Cyprus fund sector and the related financial services industry are growing.
However, now that UCITS funds will also be domiciled and serviced locally, accountancy firms may find it difficult to source enough fund experts locally, thus resorting to global recruitment networks for expertise and experience.
The fund industry is seeing growth in alternative funds, including hedge funds, private equity funds and real estate funds. The challenge that local service providers are likely to face is that the alternative fund sector is highly sophisticated in areas ranging from valuations, securities services or fund-related tax implications.
For the Cyprus fund industry, training may therefore well become a priority. To match current needs and prepare for continuous growth,. Cyprus has no shortfall of talent but lacks the infrastructure to build the expertise and grow the experience. Unless local training firepower is developed to address this challenge, other jurisdictions are likely to start grooming people to become Cyprus fund experts.
We may therefore see mobility coming into the industry and while it is certainly healthy to become more multi-cultural, local expertise in sectors like accounting or tax must also be maximized to address the needs of this industry.
As a result, Cyprus may continue to attract a lot of start-up funds and related businesses with innovative structures and products. Cyprus may start by being a small player in the fund sector but it can dramatically increase its market share as it exploits existing business links with regions and countries that are still untapped by other mature fund centres and with which it enjoys unique longstanding relationships.
If local expertise increases at a rate that supports and accelerates growth, Cyprus has every chance of becoming another solid EU fund jurisdiction. By Kyproula Papachristodoulou. Photo by Jo Michaelides. On the controversial issue at least in Cyprus these days of privatisation, his stance is clear: privatisation is the best way to achieve competitiveness, lower prices for consumers and benefits for the taxpayer. Gold: The global financial crisis has affected every country in one way or another.
What happened in Poland and how has your government tackled the problems? Pawel Dobrowolski: After five years of crisis we are all definitely wiser. Each country has its own assessment of what had happened, and how it affected its economy. Poland has experienced continuous economic growth since There have been no signs of banking system collapse, Polish bonds performed well, and still do.
One might say that we were looking at the crisis from a safe distance. Our GDP per capita index shows enormous dynamics and yet it is still below the European average. A healthy and large internal consumer market has also helped.
One important measure taken by the Government I would like to mention is the extension of retirement age to it regulated and stabilized the labour market in view of the aging population — another common European issue. Look at the economic performance of the EU27 for Gold: Poland is currently one of the fastest growing countries within the EU. Among the main drivers I will mention only a few. You might like to note that the value of our food exports alone in was equal to the entire GDP of Cyprus.
When does Poland plan to adopt the euro and what is the strategy it has adopted in order to meet this target? On paper we are ready to meet the criteria but, in reality it is as much a social and political debate as it is an economic one. The target is already set for and we should be ready by then but questions still remain. We are carefully studying individual cases, such as Cyprus or our neighbour Slovakia, and we are trying to balance the arguments for and against.
The next few years will be crucial, both for the concept of the eu-. The eurozone entry targets are within our reach. The Polish economy is open and vibrant and, in this respect, it will gain through the adoption of the euro. Gold: In recent years, Poland has undertaken some major privatisations of state-owned companies. Which ones have been privatised and what were the main considerations behind the decision to privatise them? Analyses of the largest privatised companies in Poland confirm that the change of ownership exerted a considerable influence on the effectiveness and attractiveness of each company.
In privatised companies, productivity usually increases at a faster rate, and of course their international competitiveness grows too. Gold: In its latest evaluation report on Poland, the European Council has asked the country to implement a permanent expenditure rule by What is the government doing in this respect?
Work is now in progress and the deadline is not threatened. Gold: What can Cyprus learn from the Polish economic experience of recent years and the strategy followed to tackle the severe economic and financial crisis? Comparisons may not be wholly productive; Cyprus and Poland represent very different types of economy. However, some general patterns of reacting to a crisis can be identified. In Poland we advocate and try to implement strict financial management and control of public debt; we try to maintain a healthy and regulated banking system; we seek to use privatisation as means of boosting economic growth, and we concentrate on using our assets — and here both countries stand to benefit from their gas deposits — to minimize and break up monopolies and to obtain lower costs while enhancing efficiency.
What is the aim of the Forum? We have a number of good examples of business-to-business cooperation and I hope that the idea to organise the Forum, proposed by the Polish Presidency of V4 and supported by my Czech, Hungarian and Slovak colleagues, offers added value to our economic and financial cooperation. We have a common history, we are neighbours who share the same values, in many cases we speak a similar language, and we have created a strong political affinity capable of providing answers to the major European questions.
The V4 group was established in so it is older than the Maastricht treaty and the creation of the EU with its present name in All four Visegrad countries have managed to keep their heads above the water.
We hope that Cyprus business environment will profit from this experience. Had he been given a glimpse of the future, even he would have been pleasantly surprised to see where he would find himself a decade later: running his own award-winning firm of ten lawyers, housed in offices that he designed himself and enjoying a growing reputation in the corporate and company law sector.
He would have been even more surprised had he foreseen as a youngster the way his chosen career would develop, since everything happened by chance. Unlike many lawyers, Paphitis was not born into the profession, nor did he have family members working in the legal sector. And did the reality turn out to be close to how he had imagined it as an impressionable youngster? This would mean again giving up his great love and interest in graphic design but in reality he did not abandon it entirely.
That was almost 7 years ago. I had always been interested in corporate law and company law and in I obtained a postgraduate diploma in tax law in Zurich, so before opening my own firm, my whole background had been formed by the corporate legal profession. As the years have passed, the firm has expanded to become a full service firm and ten lawyers are currently working at A. The focus of the firm continues to be on corporate law, and most of the awards that it has won in recent years are related to its specialist areas — company law, corporate governance, etc — and, in particular, international business.
And this is why I spend a great deal of time travelling. Ten or 15 years ago, finding international clients was much easier than it is today. The days of being able to sit back. Angelos Paphitis knows all about this, which is another reason for his busy travel schedule. One of the first things he did when starting the firm was to arrange a two-week trip to Russia and Ukraine and he still travels frequently to both countries as well as to major European capitals. Unfortunately, the big organisations that once allocated large budgets to promoting and sponsoring Cyprus are no longer doing so.
As a result, our competitors are overtaking us. So each individual firm needs to do whatever it can to promote itself and the country. We can no longer afford the luxury of waiting for clients to come and find us. The provision of legal services to the corporate sector is an area which, like every other, has been affected by the global financial crisis. No-one wants to lose more in the course of trying to recoup money owed.
One option in dispute resolution is, of course, arbitration and it is a process that Angelos Paphitis supports and actively promotes. The law was definitely needed and personally I think it should be stricter. Recent instances of Russian businessmen seeking to take legal action against fiduciary.
Cyprus is by far the best jurisdiction for many things but at a time when it is crucial to promote the country we seem to have stopped. However, we need proper regulation and controls on who can offer what. When you go online and you see a service being offered for a specific fee and then another firm offering the same service for one tenth of this amount, you will not have faith in the system. There needs to be a proper schedule of minimum costs, minimum fees, etc.
Otherwise we are losing the game by ourselves. We will keep on working as we do now. Seeing the firm grow is more than a professional ambition. It is a personal one too. Beyond this, he says, he is very happy with his life.
Turning To Fitness Healthier people means healthier profits for an industry that is steadily growing. Moreover, how many employers recognize the economic benefits of exercise? It is a fact that investment in workforce wellness results in notable savings per year through reduced absenteeism, improved productivity and morale, reduced costs and medical claims and a return on the investment.
By implementing wellness and exercise programmes, companies reap the rewards that come from having healthier employees. Forward-thinking organisations see this as an important contribution to the culture of their business and they may offer in-house fitness facilities, subsidize gym memberships or offer their employees educational courses on nutrition and smoking cessation. Despite the economic conditions of the last few years, the worldwide fitness industry has been growing slowly but steadily and attracting greater public interest thanks to increased media exposure.
These successful individuals and businesses know what gets their potential target market excited and what it is looking for, and they are heavily leveraging their offerings to the growing demand for fitness and influencing public opinion. New online platforms now deliver fitness education to the end user in the convenience of the home, fitness applications for smartphones are booming, young and aspiring entrepreneurs are storming social media networks and gaining over 8 million views for three-minute fitness videos produced in their living rooms.
And what of Cyprus? However, global trends indicate that companies and whole countries of any size can benefit from a turn to wellness, even in hard financial times. People have realized that the only way to get results is by investing in time and in knowledge of fitness and this will create many opportunities to capitalize on growing demand in so many different fitness service niches.
He has been involved in the fitness industry for the past 10 years, working as a personal trainer, group fitness trainer, health club manager and fitness business consultant. More and more of them are playing an increasingly proactive role in attracting business to the island, thereby enhancing its reputation as a regional financial services centre. Synergy, determination and professionalism are among the key ingredients that make our teams able to successfully handle all tasks assigned.
We help privately-held businesses and public interest entities meet challenges, proactively respond to opportunities and stay competitive. International capability and global. This award recognises the quality of our services and the dynamism and persistence of our people in achieving great results for the promotion of our services and our country as a business and financial centre. It promotes the adoption of practical quality control procedures that are generally considered to be best practices by the accountancy profession worldwide.
Size is not the deciding factor. The essential differences are defined by people with a clear vision of where they want the organisation to go. Our ambition is to be a leading firm in the countries where we operate, focused. We have a dynamic management team with the vision to realise this ambition. We service clients in almost every industry and of any size, and we do so whilst maintaining the personal attention and partner involvement that clients demand.
Our membership of Baker Tilly International provides us with a range of resources that facilitates access to the specialist knowledge, experience and intellectual property of thousands or recognised experts worldwide. In addition, it affords us access to a recognised global brand, customised training and leadership and people development programmes, industry tools and international technical and practice management resources to complement our own resources. Regular Quality Assurance and Peer review visits of member firms are carried out.
Sharing good working practices helps to maintain high quality and consistency in the approach to work carried out by member firms. Through a unique combination of international strength and local excellence we provide custommade solutions and integrated quality services to individuals and enterprises, ranging from the small, owner managed businesses to large groups with international activities. We are focused on helping our clients navigate ever-changing economic and market conditions by providing high quality advice and service on a consistent basis.
Our goal is to offer a personalized service, becoming your trusted advisors, assisting you to meet all your legal and regulatory requirements, allowing you to focus on the areas of their business which are key to profitable growth. Our partners can assist you in improving the control and visibility of your global and regional compliance, accounting and reporting operations, identifying risks proactively and helping you safeguard your business.
Working together with our clients As One Always One Step Ahead The success of our firm is defined by the strength of the relationships we have with our clients. Helping the success of their business is at the core of everything we do.
Our services include audit, tax, consulting, financial advisory, wealth advisory and an integrated services offering addressed primarily to the international business community, focusing on accounting and payroll, tax compliance and the formation and administration of companies, partnerships and trusts. As part of the Deloitte global network, with more than , people in over countries, we have the advantage of a global sharing of knowledge with a local adaptation and personal approach, built on the solid foundations of more than 55 years of successful operation in Cyprus.
Our vision is to be the Standard of Excellence, standing out in our markets through the impact we have on the reputation and success of our clients and being the first choice for talent. Our core services Delivering outstanding service to all clients is our top priority. We at Deloitte offer our clients a broad range of fully integrated services in areas that include Audit, Tax, Consulting and Financial Advisory.
Our client service teams, under the leadership of a Lead Client Service Partner, help create powerful business solutions for organisations operating all over the world. This integrated approach combines insight and innovation with business knowledge and industry expertise to help our clients exceed their expectations. Our wide range of professional services includes:.
We offer our clients a broad range of audit and enterprise risks services. Our audit services include statutory audits of financial statements, nonstatutory audits and other attest opinions, International Financial Reporting Standards IFRS services and governance services. Deloitte has one of the largest teams of taxation experts in Cyprus, providing a full range of business and personal taxation services.
Our team of highly trained and suitably qualified accounting professionals recognise the specific needs of our clients and offer an extensive range of accounting and administrative services, providing the necessary assistance and professional support to enable our clients to operate their business enterprises smoothly and efficiently.
We combine expert business strategy and financial skills with the ability to deliver major business change programmes. Our team provides practical and imaginative wealth management solutions combining sound investment advice, with tax efficient structures and long term succession planning. In addition our team provides transaction advice, international advice as well as family office services.
Our investment fund services team which includes investment, tax, wealth management, accounting, audit, corporate finance and consulting specialists provides tailor made multidisciplinary solutions to investment funds. The team can assist with the formation of a fund, ongoing tax consulting and compliance, audit, investment compliance and the raising and introduction of capital.
By managing our service offerings, we can extract synergies, from our deep specialisation to provide added value to our clients. Industries Understanding the implications of the services we provide is one of the ways we ensure success. Multifunctional industry groups representing each of our service areas create client specific solutions that add value across an organisation.
Our aim at Deloitte is to be the first choice of the most sought after talent. To achieve this, we focus on three priorities: make explicit our employer value proposition, build a true coaching culture, and focus on our differentiators - flexibility, diversity, mobility and performance excellence. Corporate Social Responsibility At Deloitte, corporate responsibility is the heart of everything we do: our approach to quality, leadership, talent and our clients.
Our business is built on the quality of our work, on strong ethical principles and integrity, on an understanding of our impact on wider society and the trust placed in us by our clients. We understand that our business has wide and far-reaching impacts and that being responsible in every aspect of the way we conduct our work is crucial to our own long-term success.
We are already renowned for the quality of our clients, for our own business performance, for the influence we have and how we set the agenda on matters that transcend our business self-interest. We want to continue to build on our reputation and be regarded as the responsible business. The Crowe Horwath network consists of more than independent accounting and advisory services firms in over countries around the world.
Crowe Horwath member firms are known for their local knowledge, expertise and experience balanced by an international reputation for the highest quality of service. Established in , Horwath DSP Limited is an accountancy firm with offices in Nicosia and Limassol, offering audit, tax, risk and advisory solutions to a diverse clientele in the local market and abroad.
Horwath DSP Limited offers its local and international clients a wide range of services. The firm employs some of the most highly-trained, educated and experienced individuals in the Cyprus market who are able to provide the highest level of client service. All key members of the. Horwath DSP is part of an international network of business experts with whom it shares a commitment to delivering technical excellence and the highest standards of client service.
We focus on providing personal, high-quality services, in-depth, comprehensive and practical solutions that help our clients gain a competitive advantage. The firm is experiencing one of the highest growth rates in its sector, driven by the professionalism, competence and commitment of the directors and its staff. The firm has just moved to its own modern offices with new facilities and high-technology equipment, offering an excellent working environment.
Today Match Predictions of all the international matches and domestic matches of all countries. The outcome of a match and the performance of individual players are dependent on a number of factors — form, fitness, playing conditions and inherent strengths and weaknesses of every player.
Full time result The most common football bet is on the match result — 1-x In that kind of bet the player has to predict the end-result of a game. The match preview to the football match Apoel Nicosia vs Enosis Paralimni in the Cyprus Division 1 compares both teams and includes match predictions the latest matches of the teams, the match facts, head to head h2h , goal statistics, table standings. These facts should all be considered to place a successful bet on this match. Betting Tips Today is automated sports predictions platform.
With our system predictions you can strengthen or weaken your bet decision. The player predicts whether the result at the end of the normal game-time will be one out of three options: a win for one team, a win for the other team or a draw. In a football match it can be seen as 0. Here as well, the score at the end of the normal game-time is taken into account.