StarOil Ltd., a newly established company in the Cyprus fuels sector, aims to capture an ambitious 20% of the commercial fuels business with the direct distribution of BP supplies of diesel to fleet operators, home and hotel heating, as well as industrial units, four years after the multinational sold all its local retail operations to
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— Targets corporates, high net-worth individuals  The Greek banking giant EFG Eurobank is ready to start full banking operations in Cyprus as early as next month, with corporations and high-net worth individuals among the first to be targeted in the ‘wholesale banking’ offensive that will avoid the opening of retail branches in the initial
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Connexis was introduced to the Cypriot business representatives during a presentation held at the Hawaii Grand Hotel and Resort in Limassol last Thursday. The presentation was made by BNP Paribas’ Connexis experts who came from France especially for this event. During the presentation, Thierry Gigant, Managing Director of BNP Paribas (Cyprus) Limited, spoke about the
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“I have never worked a day in my life,†the Chairman of the Swatch Group, Dr. Nicolas Hayek told an international business conference in Limassol recently, raising a few eyebrows in the process. The self-made billionaire, who during his career helped create over 350.000 jobs in Europe and turned the Swatch Group into the biggest
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The effort to contain deadly yellow fever disease received a boost today with the launch of a “Yellow Fever Initiative†backed by a $58 million contribution from the GAVI Alliance. Launched during the World Health Assembly currently meeting in Geneva, the new initiative will support special immunization campaigns in a dozen West African countries at
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One of the factors encouraging illegal immigration into the EU is the possibility of finding work. The Commission has today adopted a proposal for a Directive that aims to reduce that pull factor by targeting the employment of third-country nationals who are illegally staying in the EU. Building on existing measures in the Member States,
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SFS Group Public Company Ltd (SFS) and Hellenic Bank Public Company Ltd (HB) announced that after SFS’s decision to recall its public offer for 50% plus 1 share of Athena Cyprus Public Company Ltd (ATH) issued share capital, they have come to an agreement according to which SFS will dispose its entire stake in ATH
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The European Commission concluded that Cyprus has achieved a high degree of sustainable economic convergence with the euro area Member States and that it fulfils the necessary conditions to adopt the euro. On the basis of this positive Convergence Report, the Commission proposes to the Council that Cyprus adopts the euro on the 1st of
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The Convergence Reports examine whether Malta and Cyprus satisfy the conditions for adopting the single currency, namely: the economic criteria (price stability, sound public finances, exchange rate stability and convergence in long-term interest rates) compatibility of national legislation with Economic and Monetary Union rules (independence of the national bank) Article 122(2) of the European Union
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JP Morgan has increased its price target on Bank of Cyprus shares to EUR 18 per share from EUR 14 previously following a spectacular increase in profitability by the Bank in the first quarter and amid increasingly bullish prospects for the future. JP Morgan is now topping the list of analyst forecasts on Bank of
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