January will be a busy month for Cyprus, as the EastMed natural gas pipeline gets the green light from partner countries whose leaders will sign the intergovernmental agreement in Athens, on January 2. This is the first time the 1900km project running from Israel’s Levantine Basin offshore gas fields to Italy is placed so high
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By Panos Danos The conclusion of 2019 is that the real estate market is changing faster than ever and requires constant innovation, updating and transformation. The positive trend will continue in the coming period, as the Cypriot real estate market is constantly developing and becoming more and more attractive for global investors, as well as the
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By Cyril Widdershove Even though the international community is apprehensive about the regional power projections of Turkey’s president Erdogan, now threatening a possible maritime conflict after he signed an EEZ agreement with the fledgeling Libyan government, the future of Cyprus energy sector is under pressure. Optimistic statements by the East Med alliance, formed by Greece,
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The Cyprus Shipping Chamber, representing the vast majority of the island’s maritime industry, has called on the authorities to have a “realistic and pragmatic approach” when enforcing the reduced sulphur emission controls for ships from 1 January. “There is no doubt that the new regulation will have great environmental and human health benefits. The Cyprus shipping
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A woman arrested in Istanbul, Turkey, after threatening to blow up an aircraft which was to fly to Tymbou (Ercan) airport in Turkish occupied Cyprus, faces 10 years in prison. The incident occurred on 18 December while the plane was preparing to take off from the runway at the Sabiha Gokcen airport in the eastern
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Mayor of Larnaca Andreas Vyras and the board of the Cyprus Marine & Maritime Institute have appointed Zacharias Siokouros as the first Chief Executive Officer of the newly established research centre. Naval architect Siokouros will be steering the CMMI, an international, scientific and business Centre of Excellence for Marine and Maritime Research, Innovation and Technological
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The Deputy Ministry of Tourism is confident Cyprus will break its record in 2019 for annual tourist arrivals which are expected to exceed last year’s 3.9 million. Cyprus annual tourist arrivals spiked 7.8% in 2018 to a record 3.93 million as revenue touched a historic high of €2.71 bln. Despite initial estimates that tourism was
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The American Chambers of Commerce of Israel, Greece and Cyprus trumpeted the East Med Act as a sea change in US foreign policy and how it views the region as central to Europe’s energy security. On 20 December, US President Trump signed the Act to primarily promote security and energy partnerships in the Eastern Mediterranean.
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RCB Bank said it has conducted the first transactions of Russian Mir cards in the European Union. Mir, one of the youngest and fastest-growing payment systems was launched four years ago in Russia, and since then more than 71.4 million Mir cards have been issued. It has become established as a convenient means of card
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By Ivanka Pittelkau Before we are fully absorbed in the holiday spirit and the year draws to a close, we are left with an occasion to review the past year and make plans for the new one. Many people are doing just that. This, people’s behaviour, creates a strong seasonal pattern in the precious metals
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