* Russia decline of under 25% can be recovered from other markets * Energy, Commerce, Industry and Tourism Minister Yiorgos Lakkotrypis said that a study is underway on a national tourism strategy, under the supervision of the Presidency and with the participation of the Ministries of Tourism and Finance. Speaking before the House Commerce Committee,
More
Finance Minister Harris Georgiades said he expects the much-delayed package of bills regulating foreclosures and insolvencies will be debated and hopefully passed by parliament next Thursday, April 2. The House of Representatives had suspended, once again, a law on foreclosures of mortgaged property, a crucial requirement of the island’s 10 bln euro bailout, to allow
More
Despite being spoiled by several large discoveries in the Israeli offshore gasfields, Noble Energy’s Cyprus country manager believes there is still much exploration to be conducted, before the full potential of the eastern Mediterranean is known. Speaking at the Eastern Mediterranean Gas Conference in Nicosia last week, John Tomich said that the company has enjoyed
More
. By Oren Laurent President, Banc De Binary The US stock market is seemingly oblivious to the tense geopolitics that is casting shadows of doubt over European stability. As American stocks and indices are surging full-steam ahead, investors are living the dream and delighting in what looks set, if it continues to May, to become
More
. Marcuard’s Market update by GaveKal Dragonomics Travelling around Europe in recent weeks, we have been struck by how challenging most investors are finding the unprecedented situation created by the launch of the European Central Bank’s quantitative easing program in the context of negative bond yields in the core eurozone countries. These difficulties stem mainly
More
. Now that public opinion is getting tired of the endless scandals that are coming to light (and will continue to do so for quite some time), politicians have decided to turn their all-too-generous feelings to the plight of small business owners, representing more than 90% of economic activity and employment, but who are suffering
More
Standard and Poor’s (S&Ps) has revised the Cypriot economy’s outlook to ‘positive’ from ‘stable’, maintaining the economy’s “B+/B” rating based on a faster than expected reduction of the general government debt, supported by less adverse economic growth prospects than before. The government welcomed the S&P decision with Deputy Government Spokesman Victor Papadopoulos saying on Saturday
More
Three people were remanded in custody for eight days by the Limassol District Court on Saturday after the police anti-drugs unit YKAN seized about 100 kilos of cocaine on Friday, the biggest drugs bust in the island’s history. Two of the suspects, aged 33 and 34, were being followed by YKAN officers and were cut
More
A record 10,000 runners will be taking part in the 9th annual Limassol Marathon on Sunday, with at least 1,500 participants coming from overseas. According to the organisers, the oldest runner is 78-year-old Cypriot Andreas Pampakas, while children of 5-6 years will also be taking part in a shorter run. The Marathon, which is accredited
More
Sales of petroleum products fell by 3.9% in February from the previous month, according to the statistical service Cyprus, with the drop in almost all categories due to a rise in retail prices at petrol stations. Cystat recorded a decline in the provisions of aviation kerosene and in the sales of heavy and light fuel
More