Greece’s Energean announced its Hermes exploration well offshore Israel had made a commercial natural gas discovery of between 7 and 15 bcm, with Cyprus a potential export market. And the Stena IceMax drilling rig has moved to block 12 to drill in the Zeus structure. Preliminary estimates indicate that Hermes contains 7 – 15 bcm
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Nicosia has blasted the Turkish Cypriot leadership for squeezing the United Nations peacekeeping force in Cyprus (UNFICYP) into recognising the breakaway state by handing them a one-month ultimatum, demanding an “appropriate response”. Turkish Cypriot officials had essentially demanded that UNFICYP signs a military agreement, allowing them to maintain their camps in the north, with the
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The future of the Cyprus banking sector is digital, green, and social, said experts during the online FMW Conference on the financial system. The conference also highlighted the contrast between taming inflation by raising interest rates and supporting vulnerable groups to avoid social unrest. FMW moderator Iosif Iosif said that profitability has returned to the
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According to Eurostat, Cyprus spends far less on research and development than most other European Union countries, as just 0.85% of the Gross Domestic Product (GDP) or €184.8 mln, went into research activities in 2020. Although spending slightly more than in pre-coronavirus 2019, compared to €164.4 mln or 0.71% of GDP, the country spent significantly
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Moody’s Investors Service has upgraded Bank of Cyprus and Hellenic Bank’s long-term ratings, including their deposit ratings to Ba2, from Ba3, maintaining a positive outlook citing “the resilience of the Cypriot economy”. The agency upgraded the two largest banks’ Baseline Credit Assessments (BCAs) to b1 from b2. The outlook on both banks’ long-term deposit ratings
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Cypriot underdogs Omonia are fired up to face Premier League giants Manchester United on Thursday at Nicosia’s GSP stadium for the crucial game in the Europa League Group stage. “It is a privilege to face United. “It’s just as important for us. We will want to compete and try to get something from the game.
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Health authorities will roll out a third booster shot campaign for COVID-19 on Thursday, offering the updated bivalent vaccines covering the original virus, the Omicron variant and its subvariants. From Thursday, people who have had their second booster shot at least five months ago are advised to come forward for another jab with one of
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Fearing a takeover of vital sectors of the economy by foreign interests, the government is promoting a bill that allows the state to stop deals that may endanger essential services. The bill gives the government the power to veto takeovers of large institutions affecting vital sectors of the economy, such as banks and hospitals. Authorities
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President Nicos Anastasiades said the Ninth Environment for Europe Ministerial Conference in Cyprus is a recognition of actions and initiatives taken by the government to tackle the climate emergency. Upon his arrival at Nicosia’s Filoxenia Conference Centre, where UNECE launched, Anastasiades said it is one of the most important events and the first time it is taking
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The Turkish Cypriot leadership is playing hardball with the United Nations peacekeeping force in Cyprus (UNFICYP), which demands they either recognise the breakaway state or leave the north. In an interview with Turkish daily Hurriyet, the head of the Turkish Cypriot foreign office, Tahsin Ertugruloglu, said that authorities in the Turkish-occupied north had given UNFICYP
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