Following Iran’s nuclear deal, many foreign insurance companies specially from Italy, Germany and from the UK announced their willingness to invest in Iran’s insurance industry. For instance, Munich Reinsurance Company officials, one of the world’s leading reinsurers, signed a contract with Saman Insurance Company in July 2017 to provide reinsurance coverage in life and capital […]

This year three Cypriot start-ups have represented Cyprus at Web Summit in Lisbon, Portugal. Web Summit is the largest technology event in the world. This year the organizers welcomed nearly 60,000 attendees, over 1200 speakers and 2600 journalist from more than 170 countries. Web Summit started in 2010 and it is organized annually since then. […]

According to Alireza Parvaneh, the manager of Food and Beverage Department of Refah Chain Stores Company, chain stores have about 9.2% share in Iran’s retail market. This percentage was about 7% last year and only 3% five years ago, which shows an increasingly rise in number of chain stores in Iran. Although this share compared […]

Qatar has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters of the OECD. The Convention was signed by H.E. Khalid Bin Rashid Al-Mansouri, Ambassador of Qatar to France in the presence of the MR Masamichi Kono, Deputy Secretary-General of the OECD on the 10/11/2017 in Paris.   Qatar became the 115th jurisdiction […]

Hellenic Bank has appointed Youssef A. Nasr, a Lebanese-born US citizen and former HSBC banker as chairman of its board of directors. His appointment is subject to approval by the Central Bank and will take effect once the Board position becomes available. The 63-year old Nasr was working at HSBC for 34 years, from 1976 […]

Cyprus Notional Tax Deduction (NID) is a deduction against taxable profit calculated by applying a “reference interest rate” to new equity injected into companies and used by companies for the performance of its activities under certain conditions and constraints. The notional tax deduction in Cyprus enables businesses to deleverage and realise a tax efficient return […]