FAITHKEEPING THE

ISSUE 19 OCTOBER 2012PRICE €6.95

POWERED BY:

THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS

Financial Services

Professionals and Foreign

Investors remain positive

about Cyprus

RICE TO RICHESInvesting in Agriculture

PLUS: MONEY / BUSINESSECONOMYTAX & LEGALLIFESTYLE

BANKING UNION Reform orRedecorating?

INTERVIEWSDEMETRIS NICOLAOUCHARIS PAPACHARALAMBOUSJULIA PAPAGEORGIOU

+ EVAN GAVAS, YANNIS MATSIS, DAVID WESSEL

8 Gold THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS

10 1218

issue 19october

2012

FEATURE

LEARNING FROM OTHERSby Andreas Neocleous 46

SUSTAINABLE TOURISMby Petros Mavros 48

TUITION FEE WARSby Constantinos Charalambous 58

ARE THE GREEKS EUROPEANS?by Peter Economides 90

GRASPING THE OPPORTUNITY TO DRIVE JOBS AND GROWTHPROFESSIONAL SERVICES IN CYPRUS 34

+ OPINION

36 | REFORM OR REDECORATING?The basics of a Europe-wide Banking Union have yet to be ironed out

40 | PROMOTING CYPRUS AS AN INVESTMENT

DESTINATIONInterview with Charis Papacharalambous, Director-General of the Cyprus Investment Promotion Agency (CIPA)

50 | COMPETING JURISDICTIONSFinancial Services Industry: Is Cyprus Trailing its European Peer Group?

54 | THINGS CAN ONLY GET BETTERThe outgoing President of the CFA Society of Cyprus is optimistic about the future of Cyprus and the financial services sector

60 | KNOCKING ON EVAN’S DOORInterview with Evan Gavas, Country Manager of Barclays in Cyprus

64 | MAKING A DIFFERENCEThere is a growing demand for recognised professional qualifications in PR and Communication

EDITORIALUP FRONTFIVE MINUTES WITH…

68 {money}

72 {business}

78 {economy}

81 {tax&legal}

86 {lifestyle}

54

86

Financial services professionals and foreign investors remain positive about Cyprus

KEEPING THE

FAITH

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{October 2012}

72 Management and Decision-Making in Times of Economic Instability By Andrey Dashin

74 The Online Route to Marketing SuccessMore and more companies are using the In-ternet to generate sales, publicity and custom

78 From Compliance to Competitive EdgePwC’s Risk Assurance Consulting Services

ISSUE

1984 Positioned for growth

THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES OF CYPRUS Gold 67

68 {money}68 The Name is Bond…Understanding Debt Instruments

70 Rice to RichesIf you choose to invest in the Agricul-tural sector you won’t be alone

81 ADIT: A Global Standard in International Taxation By Stacey Fink

82 Benefits of the ProtocolAmendments to the Cyprus-Russia Dou-ble Tax Treaty promise to help investors

86 {lifestyle}86 Good VibrationsInvesting in musical instruments

BUSINESS: Dark Art: The Changing Face of Public Relations By Tim Burt 74

ECONOMY: Pocket World in Figures 2013 By The Economist 81

+ BOOK REVIEW

72 {business} 81 {tax&legal}

78 {economy}

77 Employee productivity levels sink to new lows Stagnant job market is to blame, says PwC

84 Positioned for growthRussia investment attractive-ness: a step forward