Cyprus Energy Minister is in Egypt to sign an agreement to enable the fledgeling East Mediterranean Gas Forum (EMGF) becoming a recognised international body. Lakkotrypis will attend the EMGF ministerial meeting, during which he will sign the Foundation Charter of the Forum along with his counterparts from Egypt, Greece, Israel, Italy, Jordan and Palestine. The
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P&I Club member Steamship Mutual Underwriting Association (Europe) has decided to underwrite all of its European business in Cyprus through its Cypriot entity. The Cyprus Shipping Chamber (CSC) has welcomed the arrival of a new P&I Club among its member-companies In a statement, the Chamber said the company “has expressed its gratitude to the Cypriot
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Cyprus Deputy Ministry of Tourism is satisfied as 2019 ended with a bang, breaking last year’s record for tourist arrivals after efforts to recover lost airline seats from major markets such as Germany and Britain. Deputy Tourism Minister Savvas Perdios while presenting the junior ministry’s achievements for 2019, said that deals with airlines such as
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Non-performing facilities in Cyprus banks recorded a slight decrease of around €1.4 mln in August 2019 compared to the previous month with total NPFs representing 29.3% of total loans. According to data released by the Central Bank of Cyprus (CBC), as of 31 August 2019, total NPFs decreased to €9.667 bln, compared to €9.681 bln
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Cyprus has paid off early an International Monetary Fund loan that was part of a €10 bln rescue package in 2013 from lenders to save the island’s banking system. Finance Minister Constantinos Petrides said the loan’s early repayment would bolster the country’s credibility in the eyes of investors and improve its ability to raise money
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Cyprus Defence Minister Savvas Angelides and his Italian counterpart Lorenzo Guerini agreed to closer coordination and cooperation on issues of energy security in the island’s EEZ and the wider Εastern Mediterranean. According to an official statement, Angelides and Guerini discussed on Tuesday in Rome recent developments in the East Med region including Turkey’s illegal drilling
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By Han Tan, Market Analyst at FXTM Most Asian stocks and currencies are trading lower on Wednesday leading up to the long-awaited signing of the ‘Phase One’ trade deal between the US and China, amid concerns that major differences are set to persist between the two economic giants. Hours before the trade deal is
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Cyprus police rescued 101 Syrian migrants after they were spotted on a drifting boat off the Mediterranean island’s southeast coast, authorities said on Tuesday. Cypriot police said a 33-metre boat was located 18 nautical miles off the Protaras coast by a patrol vessel with over 100 people on board. The migrants said their boat had
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Nicosia and Washington have accelerated their efforts to include Cyprus in the United States’ Visa Waiver Program with the two sides establishing a working group to fast-track the issue. Foreign Minister Nikos Christodoulides, Interior Minister Nicos Nourish, and Justice Minister of Justice George Savvides met on Tuesday with US Assistant Secretary of State for Consular
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Cyprus President Nicos Anastasiades said on Tuesday his government is using diplomacy to ensure international law and stability prevails as the Libya conflict unfolds. Asked about developments in the Eastern Mediterranean and the government’s consultations on Libya, the President said various actions and initiatives are taking place in close cooperation with other countries. “We insist
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