Buy This Issue
The Weekend Neos Kosmos : 12 September 2015
GREECE 24 THE WEEKEND NEOS KOSMOS | SATURDAY 12 SEPTEMBER 2015 Dubai determined to win over Greek shipowners Informative seminar held in Athens As shipowners' fears of losing special tax treatment are coming true under the terms of Greece's third bailout agreement, ambitious players of the global scene are looking to offer them a new ‘home’. The United Arab Emirates certainly fit this trend, as Dubai Maritime City Authority (DMCA) held a seminar last week in Athens with the purpose of informing Greek shippers on the institutional and tax advantages the island offers to companies. Athens-based international law firm Vardikos & Vardikos and the Middle East's largest law firm Al Tamimi & Company also participated in the presentation. DMCA was established in 2007 with the purpose of monitoring and developing maritime activities in the emirate and facilitating partnerships with regional and international businesses and stakeholders. The presentation provided an overview of Dubai's maritime strategy, tax status and requirements that Greek maritime companies seeking alternative locations should be aware of. "The challenges experienced by the Greek economy are currently putting extreme pressure on the country's shipowners to work innovatively to find alternative solutions and new investment opportunities for the advancement of their work to achieve diversity in their income resources. "This is where the role of Dubai's maritime sector comes in, with its abundant investment possibilities for shipowners and operators in Greece," said the director of communications for DMCA, Nawfal Al Jourani. Reports claim that during the last months Greek shipowners have been in exploratory talks with their Cypriot counterparts to examine the possibility of setting up subsidiaries in the neighbouring country. The news came after Athens committed - within the terms of the third bailout deal - to imposing higher taxing on the shipping industry. According to shipping data provider VesselsValue.com, Greeks are the world's biggest shipowners, controlling approximately 15 per cent of all vessels in the water. Within the last few years, the annual revenue of the industry has reached approximately US $15 billion. Sources: Wall Street Journal, seatrade-maritime.com DIGITAL.NEOSKOSMOS.COM ‘Grexit’ gets official nod The Oxford English Dictionary up to speed on newly-coined terms It may have been an issue of heated debate in the real world in recent years and an often-used term, but in the world of lexicographers, the word ‘Grexit’ did not exist until two weeks ago, when it was added to The Oxford English Dictionary. The dictionary's online database is updated on a quarterly basis to incorporate words and phrases that are sufficiently established in the everyday use of the English language. With the Grexit scenario dominating headlines over the past three years, it was only a matter of time for the term to be deemed worthy of inclusion in the esteemed dictionary. Having placed its origin back in 2012, the Oxford team defined Grexit as: "A term for PHOTO: AP/CALEB JONES. the potential withdrawal of Greece from the eurozone (the economic region formed by those countries in the European Union that use the euro as their national currency)." Among the new 1,000 words added is ‘Brexit’, referring to the potential or hypothetical departure of the United Kingdom from the EU. A new generation of neologisms (newly-coined words or expressions) have won ground in the English language, such as ‘hangry’ (an adjective describing someone who is badtempered or irritable as a result of hunger) and ‘awesomesauce’, meaning extremely good. One latest entry guaranteed to make you lose your appetite is the noun ‘fatberg’ - “a very large mass of solid waste in a sewerage system, consisting especially of congealed fat and personal hygiene products that have been flushed down toilets”. The dictionary has also officially recognised the terms ‘beer o'clock’ and ‘wine o'clock’ and ‘manspreading’, used to describe the practice when "a man, especially one travelling on public transport, adopts a sitting position with his legs wide apart, in such a way as to encroach on an adjacent seat or seats". According to the senior editor of Oxford Dictionaries, Fiona McPherson, the addition of slang words and expressions does not reflect a degradation, but rather a natural evolution of the language. "There have always been new slang words. I just think we are more aware of them because of the ways in which we consume and live our lives now. "We are bombarded with more and more avenues where those sort of words are used and we just think that there are more of them. I don't necessarily think that's the case. "From my point of view, as a leixcographer, it's not really about dumbing down, it's more creative ways that people are using language." Source: The Telegraph (UK) Tourism heading for new record Greek tourism appeared undented in August, with international tourist arrivals in the country's main airports increasing 4.6 per cent compared to the same period of 2014, reaching 3 million, the Association of Greek Tourism Enterprises (SETE) said on Thursday. According to the data, in the first eight months of the year, arrivals rose 6.3 per cent to 11.7 million. Looking at individual destinations, all airports increased their arrivals with the exceptions of Rhodes (-2.3 per cent), Kos (-2.1 per cent) and Heraklion (-1.7 per cent). The DMCA seminar was held in Athens last week. PHOTO: SEATRADE-MARITIME.COM In Athens, international ar- rivals jumped 23 per cent in August, year-on-year, and 26 per cent in the eight months to August. "Despite the difficult economic situation and the serious problems facing the industry in the midst of this year's tourist season, the intensive, persistent and systematic work of all relevant bodies, entrepreneurs and employees in tourism is bearing fruit, achieving one more record," SETE said in its announcement. The association also argued that if the situation in the market remains stable, the current year is expected to close with a total of 26 million international arrivals, which will translate into more than 14.5 billion euros in immediate revenues, "add- ing one percentage point to the country's GDP, actively supporting the local communities".
5 September 2015
19 September 2015