State-owned Cyprus Telecommunications Authority (Cyta) recorded profits for 2012 despite the challenging economic environment with earnings from operations amounting to 63.7 mln euros compared to 67.2 mln in 2011. At the same time, Cyta’s outlook for 2013 are also promising, according to chairman Stathis Kittis, who noted that despite a very difficult economic environment, with
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Italy’s ENI will start exploratory drilling for natural gas off Cyprus in the second half of 2014, its chief executive said last year. ENI and joint venture partner KOGAS of Korea signed an exploration and production-sharing contract with the government in early 2013 to search for hydrocarbons in three offshore areas. Paolo Scaroni, ENI's chief
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Ukrainian agricultural firm Agroton said it lacked cash to pay an upcoming coupon on a $50 mln bond after most of its funds were frozen in a Bank of Cyprus account as part of a an international bailout package and it said it may try to amend the terms of the bond. Agroton said that
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* Bank of Cyprus reform “urgent”; Gold sale not only option The Troika inspectors from the international lenders that have pledged to provide a 10 bln euro rescue package are back in Cyprus this week to review the work done so far on public sector reforms, cutbacks and resizing the banking sector to a level
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The Risk Watch Column The Risk Watch Column By Dr Alan Waring At a recent meeting of the Institute of Directors (Cyprus), Mr Michael Sarris the former Finance Minister asked the speaker whether any further public policy measures were required to ensure that boards of large organizations fully adopt and implement their governance and risk
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. By Dr. Andrestinos N. Papadopoulos, Ambassador a.h. In an article which appeared in the newspaper “Politis” of July 13, the President of the House of Representatives, Mr Yiannakis Omerou, reflected the warm climate which prevailed during the recent visit of our parliamentary delegation to Moscow and gave concrete examples of Russia’s solidarity with Cyprus.
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The past weeks have seen a surge in diplomatic activity between Cyprus and Russia, according to the think-tank Middle East Strategic Perspectives. A parliamentary delegation headed by Speaker Yiannakis Omirou arrived in Moscow on 03/07 for a two-day official visit. Omirou met with Russian Deputy Minister of Energy Yury Sentyurin. Also present at the meeting
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. As expected, there were no fireworks at President Anastasiades’ press conference last week. Mistakes were admitted to, apologies were offered, pledges were made and a general sense of “siga siga” seemed to prevail. On the other hand, playing up to populist demand, Nicos Anastasiades even shot a salvo at “big business” employers, almost in
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Toyota Cyprus distributors Dickran Ouzounian & Co. have restarted their popular eco-driving awareness programme, the “Prius Plug-in hybrid routes” selecting individuals who will try out the new Prius Plug-in, the first rechargeable hybrid vehicle. By test driving the new Toyota Prius, these individuals will also get a feel of driving a hybrid car and help
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. By Charalampos Theopemptou There is an ever increasing interest world wide in green buildings with European and American building certifications in place. The first thing that comes to mind for most people when they hear about green buildings is energy. Surely energy is very important but its only one of many parameters that will
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