Larnaca wants fuel storage terminals moved in 15 days

Larnaca wants fuel storage terminals moved in 15 days

LARNACA municipality has sent a letter to several government ministers asking them to resolve issues regarding the relocation of the petroleum and LPG facilities from its coast to Vasilikos within 15 days. On Thursday, the municipality announced that a meeting of the inter-ministerial committee on the relocation of the installations was held on Monday at the office of the mini...
Business Friday, 26 July, 2019
GDP Growth Of 3.4% In 2019 And 2020

GDP Growth Of 3.4% In 2019 And 2020

University of Cyprus’ Economics Research Centre has predicted that real GDP growth will slow from 3.9% in 2018 to 3.4% in 2019, a rate which will also remain in 2020, the Cyprus News Agency reports. In its Economic Outlook, published on Friday, the Economics Research Centre notes that the growth momentum of the Cypriot economy is expected to moderate in 2019 and 2020. &...
Business Thursday, 25 July, 2019
EY: Many Challenges for Telecommunications in the 5G Era

EY: Many Challenges for Telecommunications in the 5G Era

With digital services now the leading priority for the telecommunications C-suite, it is little surprise that ineffective digital growth tops a new EY ranking, Top 10 risks for telecommunications operators. This ranking highlights the security requirements due to increased data protection regulation and the widening talent-skills gap as growing risks that demand a shift in...
Business Wednesday, 29 May, 2019
Gregoriades: The Investment Funds Sector is the Most Promising Sector of the Cypriot Economy

Gregoriades: The Investment Funds Sector is the Most Promising Sector of the Cypriot Economy

  The Cypriot investment funds sector has gained a significant position on the international investment map. The Cyprus Investment Funds Association (CIFA), has been accepted as a full member of the International Investment Funds Association (IIFA), while it has been a full member of the European Fund and Asset Management Association (EFAMA), since 2016. CIFA’s app...
Business Thursday, 16 May, 2019
Limassol Marina Receives the Highest Industry Award for Excellence

Limassol Marina Receives the Highest Industry Award for Excellence

Limassol Marina, the first full-service superyacht marina in Cyprus, has received the prestigious “5 Gold Anchor Platinum Award”, the highest distinction for exceptional marinas across the world, providing outstanding customer services and facilities. The official announcement was made at the opening ceremony of Limassol Boat Show 2019 in the presence of government ...
Business Tuesday, 14 May, 2019
Bank of Cyprus: Provides access to eight other banks to its customers

Bank of Cyprus: Provides access to eight other banks to its customers

The ability of the customer to monitor the accounts he maintains with other banks through Internet & Mobile Banking, offers Bank of Cyprus, as part of the Digital Transformation Program. In today's announcement, Bank of Cyprus reports that 1bank provides, via Internet & Mobile Banking, the ability of the customer to monitor its accounts with other banks, adding tha...
Business Monday, 13 May, 2019
Rush for Cypriot passports before rules tighten

Rush for Cypriot passports before rules tighten

Foreigners are rushing to acquire Cypriot passports via the citizenship-by-investment scheme before the rules are tightened on 15th May according to a report in the Greek daily Phileleftheros. FOREIGN nationals are reportedly scrambling to acquire Cypriot passports via the citizenship-by-investment scheme, ahead of tighter criteria kicking in on May 15. According to daily Phi...
Business Thursday, 02 May, 2019
ExxonMobil announces 5-8t cubic feet of gas off Cyprus

ExxonMobil announces 5-8t cubic feet of gas off Cyprus

Cyprus and ExxonMobil on Thursday announced a gas find estimated between 5-8 trillion cubic feet (tcf) in an offshore field inside the island’s exclusive economic zone. The discovery was made in the Glafcos (Glaucus) 1 well in Block 10 of the EEZ. “Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource ...
Business Friday, 01 March, 2019
Changes to Citizenship scheme approved

Changes to Citizenship scheme approved

Changes to Cyprus’ controversial citizenship-by-investment scheme, which has granted 1,864 citizenships and generated €6.6 billion of foreign investment, have been approved by the Cabinet.  Cyprus on Wednesday (13/02/2019) approved a series of changes to its much-criticised Citizenship-by-Investment scheme, so it becomes “more targeted and trustworthy&rdq...
Business Tuesday, 19 February, 2019
Make sure you read the small print of insurance policies

Make sure you read the small print of insurance policies

VERY few people read let alone understand the small print when they take out insurance for property. Even if you insure a building for ‘all purposes’ including acts of God (rain, floods etc) be sure that the insurance company has its back covered to avoid a reduction to your claim. Recent events have come to our knowledge leading us to express the following: Excess...
Business Wednesday, 19 December, 2018
Agreement close on Airbnb type rentals

Agreement close on Airbnb type rentals

Agreement on a bill designed to regulate and tax rental income on Airbnb type rentals is close but a key question remains concerning short-term letss of apartments in residential areas. AFTER several weeks of discussion, lawmakers are close to agreeing a bill regulating the operation of short-term Airbnb-style property rentals.The key remaining question related to short-term r...
Business Monday, 10 December, 2018
Government tries to allay fears of co-op customers

Government tries to allay fears of co-op customers

By Elias Hazou The government on Monday said it was moving to shore up confidence in the Cyprus Cooperative Bank (CCB) as depositors pulled more money out of the lender. Neither the government nor the state-owned bank would be drawn on what these moves might be, though the goal was clear: to buttress the bank’s deposit base so that potential private investors would not ...
Business Tuesday, 03 April, 2018
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