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ISSUE 17 AUGUST 2012 PRICE €6.95
THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS
A new generation is driving the services sector
Talented Young Professionals
+ TONY CHRISTODOULOU, THEO PARPERIS, CONSTANTINOS ROUSSOS FRAUD
How to safeguard your organisation’s assets
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OPINION
Irakli Bukhiashvili Constantinos Charalambous Theo Panayotou
UNDER ATTACK!
Anti-piracy law comes into force
PLUS:
MONEY / BUSINESS ECONOMY TAX & LEGAL LIFESTYLE
01/08/2012 10:12
issue 17 august 2012
08 EDITORIAL 10 UP FRONT 16 FIVE MINUTES WITH
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“I believe that there is an “STRONG AND AMBITIOUS INDIVIDUALS WILL ALWAYS BE PRESENTED over-supply WITH GOOD OPPORTUNITIES AND PROFESSIONAL QUALIFICATIONS TEND of nominally TO PROVED TO BE A GOOD PASSPORT.” qualified people and an undersupply of true talent.” I am confident that Cyprus will overcome the current financial
+ OPINION CYPRUS NEEDS ITS OWN MARGARET THATCHER by Dr. Constantinos Charalambous 32
“CYPRUS IS ALREADY AN ESTABLISHED SERVICES AND FINANCIAL CENTRE. THE CHALLENGE FOR ALL OF US IS TO MAINTAIN THAT POSITION FOR THE YEARS TO COME.”
HERE COMES ANOTHER ECONOMIC MIRACLE! by Stelios Violaris 34
issues as long as appropriate measures are implemented, such as the appointment of technocrats in key positions, and collective action is taken by the relevant authorities.
“Cyprus is an easy and fun place to live “OTHER JURISDICTIONS and work, ranking relatively high on the “THERE IS A NEED HDI index and the professional pace can HAVE CAUGHT FOROUR STRUCTURALbe as fast or as slow as you set it.” UP WITH US. CHANGES AND GENERATION’S INCENTIVES “The firm I work ‘MISSION’FOR MUST ECONOMIC BE TO ELEVATE for can provide GROWTH. IF WE CYPRUS’ ROLE TO THINGS MANAGE me with the RIGHT, WE COULD THE NEXT LEVEL.”
same challenges, “INTERNATIONAL quality of work FIRMS OR FIRMS and opportunities WITH INTERNATIONAL as any London ASPIRATIONS TEND TO BE firm.” BE IN A MUCH BETTER SITUATION IN A FEW YEARS.”
CUTTING BUREAUCRACY By Irakli Bukhiashvili 62
TALENTED YOUNG PROFESSIONALS
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FEATURE 46 | OCCUPATIONAL FRAUD
54 | LET’S SEE ACTION!
How to safeguard your organisation’s assets
Tony Christodoulou looks back on 40 years of PR success.
50 | LIVE-ON-LINE The new, flexible mode of study from Intercollege Globaltraining
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A NEW GENERATION OF PROFESSIONALS IN CYPRUS ARE AT LAST BEING GIVEN A CHANCE TO MAKE THEIR MARK ON SOCIETY AND THE ECONOMY IN A WAY THAT WAS NOT PREVIOUSLY POSSIBLE.
BUILT ON THE PRINCIPLE OF MERITOCRACY.”
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NOSTALGIA FOR THE FUTURE by Peter Economides
58 | UNDER ATTACK! Anti-Piracy Law Comes Into Force
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{money} {business} {economy} {tax&legal} {lifestyle}
6 Gold THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS
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ISSUE
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+ BOOK REVIEW BUSINESS: Management in 10 Words By Terry Leahy 74 ECONOMY: How Much is Enough? The Love of Money, and the Case for the Good Life By Robert Skidelsky & Edward Skidelsky 79
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{money}
66 Going Green with Alternative Investments By Steven A. Newberry
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{business}
68 Doing Business in Cyprus Alexia Aspri and Celia Pourgoura on the business environment and the risks it faces.
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{economy}
TAX & LEGAL: The Oxford Guide to Treaties By Duncan B. Hollis 83 LIFESTYLE: The Venetian By Lina Ellina
76 How to Pay Off Cyprus’ National Debt The ‘unmentionable’ solution of a pipeline to Turkey would have major advantages. By Fiona Mullen.
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{tax&legal}
70 Investing in the Future Interview with Christos Christodoulou, CEO of Trust Insurance (Cyprus).
80 Intellectual Property Rights Cyprus is Becoming the Jurisdiction of Choice
74 Limassol Hosts WISTA MED 2012 Professional women from the Mediterranean and beyond came together to network and create new business opportunities.
82 No Taxing Problems Companies doing business in Cyprus have good relationships with the local tax authorities.
84
{lifestyle}
84 Domain Thing The changing business of Top-Level Domains 87 Top-Level Domain Man Interview with Constantinos Roussos about his .music project and more.
THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES OF CYPRUS
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