Cyprus Revoke ban on casino

To Promote the Economy, Cyprus Revoke ban on casino
Reported from Cyprus, Cyprus plans to lift a ban on casinos and offers corporate profit tax exemption (tax breaks) that invest in the region to boost the economy.
Bleak reported by Reuters on Monday (01/04/2013), Cyprus has approved a 10 billion euro rescue package last week, with the consequences of fixing the banking sector and cut the cost of thousands of jobs.
Cyprus President Nicos Anastasiades the informal meeting said the 12-point growth plan will be put to Cabinet approval is expected within 15 days.
The program includes measures to attract foreign investment to the island Mediterani it (offshore financial hub), exemption of tax on business profits were invested there, and the reduction of payment terms and interest rates on loans.


Meanwhile, in an effort to attract more tourists, the President also would lift a ban on casinos, which so far only operate legally in the northern Turkish-Cyprus
On the other hand Depositors Cyprus banks could suffer losses of up to 60%, according to CNBC. This amount exceeds the initial estimate but required as a condition to get and bailout. 37.5% of the value of deposits in excess of € 100,000 on Bank of Cyprus will be converted into shares, while 22.5% will be used to increase banks' capital reserves. However, this is not a final judgment because it will continue to be discussed.
'40% of the value of large depositors in Bank of Cyprus will be frozen for liquidity reasons, but the funds were frozen will still earn interest,' the central bank said in a statement Cyprus. Conversion of customer funds into stocks will give depositors the opportunity to reduce losses; nonetheless Cyprus banks are now almost worthless and no one knows when the value of bank shares Cyprus could rise to cover customer losses.
Monday traded yesterday, the Euro hit down yet again mengut versus the U.S. dollar, near its 3-month low in anxiety any misuse of the terms of the bailout Cyprus. Similarly, a recent report from the European region in particular Cyprus successful we quote.