Sin taxes to rein in economy

MAKING people pay for their ‘sins’ will help the government achieve an almost balanced budget by 2010, a finance ministry report said yesterday.

Other moves to rein in the budget include holding down costs, confronting a looming demographic crisis and establishing a health scheme by making people pay for their sins.

Pitching tiny Cyprus to the Chinese economic giant

TOP Cypriot and Chinese businessmen and diplomats gathered yesterday in China’s most populous city, Shanghai, at a high-profile conference to increase trade and investment between the two countries.

Possible fines over failure to implement residency law

CYPRUS COULD face fines after failing to implement an EU directive that allows long-term resident third-country nationals the right to apply for European resident status in time, senior government officials said yesterday.

France and Germany step back from harsher sanctions against Turkey

GERMANY and France yesterday went back on plans to ask for a new 18-month deadline for Ankara to open its ports and airports to Cyprus, rejecting the idea of setting ultimatums for Turkey’s accession course.

The announcement came only hours after the Cyprus government welcomed the proposal made on Monday by German Chancellor Angela Merkel.

Government mulls 'sin taxes' in bid to balance budget

CYPRUS expects to achieve an almost balanced budget by 2010 by holding down costs, confronting a looming demographic crisis and establishing a health scheme by making people pay for their “sins”, a Finance ministry report said yesterday.

Parties eye a tidy Christmas bonus

PARTIES are rubbing their hands in anticipation of a Christmas bonus that will come in the shape of a massive hike in government financing.

The 2007 budget provides for £1.5 million in party financing, but reports say that politicians are pushing for an increase of up to 150 per cent.

Developers snapping up ancient olive trees

OLD OLIVE trees are being snapped up by hotels and developers for huge sums of money for their aesthetic value.

According to the Forestry Department’s Takis Tsintides, “the older the tree, the more beautiful and valuable it becomes.”

Agriculture ministry probe insists potatoes ‘probably from north’

AN AGRICULTURE Ministry investigation into the origin of ten tonnes of potatoes found in an overturned truck in the Dhekelia British Bases last week has concluded that they, “probably originated from the occupied areas”.

The Permanent Secretary of the Ministry’s Agriculture Department said several signs pointed to that fact.

Another school attack thwarted

POLICE yesterday managed to thwart the plans of a gang of Nicosia students, who’d boarded a bus with the intention of beating up their peers at another school, after being tipped off about the attack.