ISSUE 08 NOVEMBER 2011 PRICE €6.95 powered by:
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the international investment, business & finance magazine of cyprus
+ FILMMAKERS APOSTOLOS KONDEATIS, STAVROS SIDERAS, ATHENA XENIDOU EUROZONE
Four Tales of eurozone dissolution
INVESTMENT
Investing in Innovation & Technology
INTERVIEWS
Nick Arvanitidis George Evripidou Yuri Pianykh
Plus:
MONEY / BUSINESS ECONOMY TAX & LEGAL LIFESTYLE / opinion
10 EDITORIAL 12 NEWS BRIEFING 16 TECHNOLOGY 20 FIVE MINUTES WITH... 22 INDICATORS/COMMODITIES/FOREX
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issue 08 november 2011
COVER STORY
CAMERA! LIGHTS! INVESTMENT!
THE RISKY BUSINESS OF MOVIE FINANCING
+ opinion my unfair lady by Eleni Vickers
26
living for the people of Cyprus?” by Onoufrios Hadjinicolaou (Yes) and Jack Gregory (No) 28 The Energy Time Bomb by Philokypros Andreou
40
In Cyprus Trusts we trust by Peter G. Economides
42
Facebook: Waste of time or valuable online marketing tool? by Sarah Fenwick 60 R.I.P. genius by Peter Economides
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FEATURES 44 | Backing Tomorrow’s Winners Today Investing in innovation and technology
47 | Where Angels Don’t Fear to Tread The Silicon Valley Greek Seed Fund
50 | Tales of Eurozone Dissolution Four stories with a shared moral
54 | the cyprus labour market and businesses Is the island’s labour market really that business-friendly?
62 | Securing the Future Financial Planning is the key 8
the international investment, business & finance magazine of cyprus
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{money} {business} {economy} {tax&legal} {lifestyle}
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{november 2011}
issue
08
+ BOok review
74
LIFESTYLE:Private Eye the First 50 Years: An A-Z By Adam Macqueen 97
{money}
74 Wealth Management Par Excellence Sharelink Wealth Management Unit 77 London Stock Exchange Top choice for emerging economies
78
84
{economy}
84 Crossing the Line Towards a Common Future Economic Interdependence in Cyprus
{business}
78 Meeting the Needs of Cypriot Businesses Interview with George Evripidou, General Manager of Hellenic Bank’s Business Division (Cyprus) 80 Getting ready for the cloud era Adobe and PwC US collaborate to design CS5 84 London’s “green” red buses complete one million miles test Hybrid electric buses prove their worth
87 Looking to the Next 100 Years National Bank of Greece (Cyprus) celebrates its centenary
88
{tax&legal}
88 Success Story Baker Tilly Klitou is now the 5th largest audit firm in Cyprus 91 Austerity Arrives Recent tax changes aim to reduce budget deficit
92
{lifestyle}
92 Precious Time Watch collecting is one of the most rewarding and most expensive hobbies 95 Classic cuisine with an extravagant touch New menus on Lufthansa’s European flights 96 Strengthening Cypriot-Russian ties through art 120 Russian and Greek icons up for auction
the international investment, business & finance magazine of cyprus
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