By Richard Greiner The shipping industry faces some very significant challenges over the coming years, but has a number of reasons to be cheerful as it enters a new decade, according to BDO. Last year marked the 150th anniversary of the opening of the Suez Canal, which in many ways helped to revolutionise the conduct
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By Yiannis Tirkides The Cyprus economy has achieved considerable progress in the post-bailout years, and the recovery that started in 2015 continued uninterruptedly into 2019 as well. The outlook for 2020 remains positive even if less upbeat. However, new challenges will be surfacing or will become more apparent in 2020. Growth will be slowing because
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By Ivanka Pittelkau Precious metals were on a glistening run in 2019; Palladium extended gains for the fourth straight year, in fact, it surged more than 50% in 2019 alone. Platinum had its best year since 2009 gaining about 22% throughout. Gold closed the year with its biggest annual rise since 2010, some 19%. Last
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Senior Turkish officials said the EastMed gas transport project is simply a pipedream doomed to fail as it excludes Turkey and violates international law. Turkish officials also argued the pipeline is not commercially feasible while pointing out that Turkey is the most viable route for transporting gas from the Eastern Mediterranean to Europe. Turkish Foreign
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A British teenager found guilty of lying about being gang-raped in Cyprus has pleaded with UK Prime Minister Boris Johnson to “bring me home”. The 19-year-old alleged she was raped by 12 Israeli tourists in a hotel room in Ayia Napa on July 17, but she claimed Cypriot police forced her to sign a retraction
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Many Cyprus dams are overflowing as total water capacity reaches 88.3% following the recent stormy weather. The latest dam to overflow was Ayia Marina Xyliatos which was captured on video by members of the Forestry Department. Reservoirs that have reached their full capacity include the dams of Argaka and Pomos (Paphos), Tamasou, Malounta and Kalopanayiotis
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An estimated 3.5% increase in turnover of trade last year has put a smile on Cyprus retailers as they look forward to 2020 with optimism. Boosted by Black Friday and the holiday season sales, retailers saw a record year in retail sales since 2013, as they expect further growth in the sector for a fifth consecutive
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Turkey sending troops to Libya marks a dangerous escalation which threatens to destabilise the region leaders of Cyprus, Greece and Israel said in a joint statement. Greek Prime Minister Kyriakos Mitsotakis, Cyprus President Nicos Anastasiades, and Israeli Prime Minister Benjamin Netanyahu denounced Turkey’s decision to deploy troops in Libya. They said the decision marks a
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Greece, Cyprus and Israel signed a milestone agreement for a huge $7 bln EastMed pipeline project to ship gas to Europe despite Turkey’s hostility to the deal. Greek Prime Minister Kyriakos Mitsotakis, Israeli Prime Minister Benjamin Netanyahu and Cyprus President Nicos Anastasiades joined the ceremony at which their respective energy ministers signed the deal in
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Turkish Cypriot leader Mustafa Akinci believes the EastMed pipeline agreed Greece, Cyprus and Israel in Athens will not help resolve the island’s division. In a statement, Akinci said the EastMed pipeline “will not help solve the Cyprus problem, just as Greek Cyprus’ accession to the EU in 2004 before a comprehensive settlement on the island
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