The Cypriot economy shrank by 5.9% year on year in the second quarter of 2013, marking its eighth consecutive quarterly GDP reduction, figures released by the Cyprus Statistical Service (CyStat) show. Taking into account the correction on seasonally adjusted data, the recession reached 5.7%. Compared with the first quarter of 2013, the economy shrank by
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The Cyprus Ministry of Agriculture, Natural Resources and Environment has signed a contract for the installation and operation of meteorological radar services from Space Hellas SA. by March 2014. The contract worth €5.33 mln is valid for a 13-year period and the contractor is required to install, operate and maintain two meteorological radars near Larnaca
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The Group of 20 will say in its summit communique that the global economy is improving but it is too early to declare an end to crisis, a Russian official involved in its drafting said on Friday. "Compared to the start of the Russian presidency there has definitely been a shift in the assessment, and
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Russia is sending the naval landing ship Nikolai Filchenkov to the eastern Mediterranean, state news agency Interfax said on Friday, reinforcing its presence near Syria. Russia, an ally of Syrian President Bashar al-Assad, says its vessels in the eastern Mediterranean guarantee security as the United States considers launching military strikes to punish Damascus for its
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The Attorney General of Cyprus, Petros Clerides, said he will step down on September 15, according to a tweet from President Nicos Anastasiades https://twitter.com/AnastasiadesCY . Replacing Clerides on the following day will be Supreme Court Judge Costas J. Clerides. Petros Clerides practised law from 1972 to 1974 when he joined the Law Office of the
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Cypriot politicians will never learn. On March 15, members of parliament rejected an initial Eurogroup bailout plan that would have meant a milder haircut on all savings and the possible survival of the island’s second largest lender, Popular Laiki. However, in their foolish wisdom they rejected the rescue package naïvely thinking that they could bargain
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The VAT review of the SAP Business One solution by KPMG was commissioned by SAP channel partner Futurebiz Ltd and included the examination of how the software records transactions and in order to determine whether it complies with the Cyprus VAT Act (N.95 (I) 2000-2012) and regulations. In particular, the following areas were reviewed: •
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Production test in Cyprus` offshore block 12 which started Thursday could not be completed due to "mechanical complications", Cyprus Ministry of Energy announced, adding that the procedure will continue in the next days according to schedule. "The process of production test at the well has started today (Thursday). The works involving flow and flaring of
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Poor practices of risk management, inadequate supervision as well as delay in measures taken by the Cypriot Government, were the main reasons for the current economic situation in Cyprus said European Commissioner for Economic and Monetary Affairs Olli Rehn. In a written reply to a question by Cypriot MEP Antigoni Papadopoulou, who asked the Commission
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Cyprus can be a core of medical science in the Middle East with the opening of the Medical School from this academic year, Dean of the Medical School of the University of Cyprus (UCY) Andreas Adam told CNΑ. "Cyprus has great potential to become a medical center, because of its geographical position but also because
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