State-owned telco Cyta said that it has agreed to sell its loss-making subsidiary in Greece, Cyta Hellas, to rival Vodafone for EUR 118 mln. This follows last week’s announcement that Vodafone’s Greek operations, Vodafone-Panafon Hellenic Communications S.A. had emerged as the preferred bidder after the Cyprus company appointed PwC Greece and law firms Bernitsas of
More
The Royal Institution of Chartered Surveyors (RICS) has launched the “Cities for our Future” competition in partnership with the U.K. National Commission for UNESCO and the Association of Commonwealth Universities. The challenge calls on young people to come up with new ideas to help tackle the most pressing problems affecting cities in Europe and around
More
Just weeks into the project’s first official announcement, Cybarco has started construction work at the site of Trilogy Limassol Seafront. The company’s latest landmark development is in its pre-launch phase and has already received reservations in excess of EUR 25 mln for its luxury sea view apartments and offices in the West Tower – due
More
Global telecommunications will undergo a drastic and revolutionary change with the introduction of the Quantum Cable, the super-fast subsea cable of up to 160Tbps in the Mediterranean, following a Memorandum of Understanding and Heads of Agreement signed in Nicosia between the owner, Quantum Cable, and a leading U.S.-based global industry supplier, major S&P company and supported
More
. “The relatively mute reaction to Trump’s recognition of Jerusalem as Israel’s capital only reinforces the view that the Arab states’ anxieties about the Iranian threat takes precedence, even over such a sensitive issue as the future status of Jerusalem” Artwork by Sam Ben-Meir and Michael Anderson By Alon Ben-Meir The geopolitical
More
Members of the public and leaders of the island’s shipping industry got together for the first time in an open event to discuss the sector’s future and its impact on society and the economy, with speakers talking about their own experiences and how they see the future of the maritime world in Cyprus. The panel
More
Cyprus hosted the first trilateral summit with Jordan and Greece on Tuesday where the leaders of the three countries pledged to boost efforts to help resolve refugee problems and descale regional, while at the same time co-operate on a number of issues, ranging from culture to trade and shipping. After the meeting in Nicosia, the
More
The coverage ratio of non-performing loans (NPLs) in the Cypriot banking system remains steadily above the EU average, according to figures for the third quarter of 2017 published by the European Banking Authority (EBA). The data showed that the coverage ratio of NPLs in Cypriot banks stood at 45.54% and the country was in 13th
More
The Co-operative Cyprus Bank has signed its third borrowing facility with the European Investment Bank which will provide EUR 25 mln in low-interest loans to support small and medium-sized enterprises (SMEs). Co-op General Manager Nicholas Hadjiyiannis said that the previous facility that had just closed, provided EUR 25 mln in loans to 116 businesses, at
More
Hellenic Bank has joined its junior shareholder, the European Bank for Reconstruction and Development (EBRD) to provide a $350 mln syndicated loan to steelmaker ArcelorMittal. The announcement, the first since the banking crisis brought all lenders to their knees in 2013 forcing them to seek new investors, said that EBRD is providing a $350 mln
More