The outlook for the global life insurance sector is stable, reflecting insurers’ solid regulatory capital and relatively conservative investment portfolios, and their efforts to adapt their products to a low interest rate environment, Moody’s Investors Service said in a report. “These factors offset the adverse impact of low interest rates on profitability and economic solvency,”
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The Cyprus Met Office issued a yellow warning for heavy rain and stormy weather covering a 24-hour period until late afternoon on Thursday. Rain is expected in many areas across the island accompanied by isolated thunderstorms making driving conditions hazardous with reduced visibility and aquaplaning. Total rain accumulation is likely to exceed 50 millimetres over
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A team of Cypriot civil engineers are in Tirana after the Cyprus Foreign Ministry consulted the Albanian government on how it could assist in post-earthquake building inspections following the 26 November quake. A Foreign Ministry announcement said the Cypriot team consists of six civil engineers, the head representative of Civil Defence and an embassy official
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Cyprus President Nicos Anastasiades expects his EU partners to give a “clear position” on the MoU signed by Turkey and Libya on delimitation their maritime areas, during the European Council summit in Brussels. Anastasiades is in Brussels a day before the European Council convenes on December 12-13 to meet EU officials to raise support for
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Limassol is to host the first wholesale outlet of the Greek chain Metro Cash & Carry, to be named BEST VALUE when it opens on 28 January. The ‘BEST VALUE for Professionals’ is targeted at retailers, both in the resale sector (mini-markets, grocery stores) and in the catering and HORECA. Sector (Hotel, Restaurants and Cafes).
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As a small country in a climate-affected region, Cyprus seeks regional cooperation to address global warming, said Environment Minister Costas Kadis at the UN Climate Change Conference (COP25) in Madrid. “Cyprus, a Mediterranean island state, is located in an area that is seriously affected by climate change, which is manifested through prolonged periods of drought,
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Cyprus, France and Italy will conduct on Thursday a tripartite maritime cooperation naval exercise, called “CYP/FRA/IT 2019” in the island’s exclusive economic zone (EEZ). According to the Defence Ministry, the three countries will conduct the “PASSEX” type naval exercise in the maritime area south of Cyprus and within the EEZ of the Republic, in the
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Abelia Campus & ACC Hadjichristou Bros have applied for construction and operation permits for a luxury hotel with 336 rooms and 668 beds. Some of the luxury hotel’s 336 rooms are to have their own swimming pool and jacuzzi, while the hotel will also have a fitness centre, spa, tennis courts, indoor pool for adults
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Joint Cyprus police and army patrols are being deployed along the ceasefire line to counter an “unprecedented” influx of migrants crossing from the breakaway north. Interior Minister Nicos Nouris said the 24-hour patrols began on Monday in Nicosia on a trial basis. He said the tighter security measures would be evaluated at the end of
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By Stavros Clerides Investors who are interested in redomiciling their business activities to a different country have to consider significant parameters such as the cost and quality of life as well as the favourability and stability of the legal, political and tax system. Specifically, when it comes to the latter, they are looking for a
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