The long-awaited €1.2 bln redevelopment of Larnaca port and its marina got the final green light Monday after the Transport Ministry sent a ‘Successful Tenderer Letter’ to the chosen consortium after protracted negotiations. The consortium awarded the project is Kition Ocean Holdings, a Cypriot-Israeli consortium, composing of investors Eldeman Holding BV and Alexandrou Corporate Services
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Vasilis Demetriades, the Cyprus shipping minister said Monday he shares a common view with the communist party Akel on actions to further promote the maritime sector. Speaking after a meeting with the party’s General Secretary, Andros Kyprianou, the junior minister said, “We exchanged views and suggestions about Cyprus shipping.” “Our common observation is that this
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Cyprus authorities are considering bringing charges against a woman who violated self-isolation after returning from the USA, infecting 14 other people with COVID-19. Justice Minister Emily Yiolitis responding on Twitter on Monday, said authorities are looking into whether the conduct of the woman – who travelled across the island – warrants legal action or not,
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Form 6 August passenger arrivals from Greece will have to present a coronavirus negative test no older than 72 hours after Cyprus demoted the country to a higher risk category. A resurgence in COVID-19 cases in Greece combined with some passengers arriving from Greece testing positive for the virus after random tests at airports. The
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In July, Cyprus witnessed daily maximum temperatures reaching or even exceeding 40 degrees Celsius more times than in any other July since 1983. According to official statistics, July was the month with the highest average daily maximum temperatures recorded for 37 years. The average daily maximum temperature in July this year was 39.7°C with the
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Two reports by the University of Cyprus show the Cypriot economy in decline and the uncertain growth trend for 2020 with the main retardant being the coronavirus-imposed lockdown in March and its impact. The university’s Economics Research Centre said in its outlook for the rest of the year that “as a result of the COVID-19
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By Hussein Sayed, Chief Market Strategist at FXTM After an astonishing performance in July, Asian equities kicked off the month of August in a more mixed fashion with the major indices in China and Japan trading higher, while Hong Kong and Australia are seeing their benchmarks decline. US futures are steady as investors have lots
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Coronavirus clusters in Limassol and Larnaca are growing while the number of cases with a travel history from Greece reaches worrying level. The Health Ministry on Sunday reported a total of 26 coronavirus cases, including 15 announced earlier in the day connected to the Limassol and Larnaca clusters. Out of the 15 new SARS-CoV-2 infections,
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Cypriots should create “social bubbles” with a small group of contacts to help contain the spike in the transmission of coronavirus, helping authorities trace contacts easier, said infection prevention expert Constantinos Tsioutis. Speaking to CNA, Tsioutis, a member of the government’s scientific team, said the idea is for people to create a group of contacts
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By Stefan Nolte The price of gold surged almost every month this year, based on EUR prices, by 4.83% in July, 1.78% in June, 1.10% in May and 7.75% in April, while Gold/EUR increased by 23.4% from the beginning of 2020. As gold is mainly a long-term wealth protector, it makes sense to have a
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