Marios Clerides, a well respected banker and economist and former chairman of the Cyprus Securities and Exchange Commission has been appointed the new chief executive officer of the recently nationalised Cooperative Central Bank. The island’s Cooperative banks are now by 99%-owned by the state following a €1.5 bln euro capital injection as part of the
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The House of Representatives approved late on Thursday the 2014 state budget, the first based on the commitments undertaken by Cyprus in the framework of its economic adjustment programme with the Troika of international lenders (EC, IMF, ECB) in March 2013. After amendments, the budget includes provisions for expenditure of 7.7 bln euros and revenues
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. The European ‘union’ has tried and failed, once again, to lure prey into its web, with offerings of democracy, equality, transparency and western-style welfare, the likes of which are unheard of in closed states such as the Ukraine. Of course, it is not the EU family and its 400 mln citizens who are to
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R&D vs. Innovation: Politicians don’t have a clue High electricity cost is killing Cypriot entrepreneurs Cypriot entrepreneurs who are trying to innovate in order to compete with their international peers are facing an uphill battle, made worse by the ignorance of politicians and the red tape in civil service when it comes to providing aid
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The French government has launched the Worldwide Innovation Challenge open to both French and foreign companies whose projects are of great interest to the French economy and present a strong potential for growth. Through the Public Investment Bank (B.P.I.), the state is investing 300 mln euros to co-finance innovative projects within seven sectors constituting the
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yoo, the global design, development and branding firm is to launch a luxury coastline project in Cyprus under the ‘yoo inspired by Starck’ brand, headed by the one of the world’s most revered designers Philippe Starck. Developed by Rosly Investments Ltd., 51 villas and eight apartments will be created on the Limassol beach front near
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The Cyprus Chapter of the FIABCI International Real Estate Federation has been upgraded to a “Mediterranean Middle East Multinational Chapter”. The upgrade was achieved under the framework of the FIABCI International Winter Business Meetings conference, which took place in Dublin on December 4-7, on the request of FIABCI-Cyprus. A delegation from FIABCI-Cyprus, consisting of Lakis
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. A survey recently conducted by the Vitus housing company shows that the rent freeze planned by the new Grand Coalition of Angela Merkel’s Christian Democrats (CDU) and the Social Democrats (capping the rent increase on new leases at 10% of the local reference rent) would affect primarily the metropolis and campus towns of Germany.
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Cypriot boxers took the lead over the Russian athletes as they competed in the FXTM International Boxing Cup “Cyprus Vs Russia” on Friday December 13th at the FXTM Apollon Indoor Arena in Limassol, proving that there is a lot of potential for further development in the Cyprus boxing scene. The boxing tournament was co-organized by
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European Parliament President Martin Schulz has reaffirmed the EU's position that the door remains open to Ukraine after its decision to put on hold its EU association process last month in favour of closer relations with Russia. EU leaders are expected to discuss relations with Ukraine and Russia when their meeting resumes today (20 December).
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