The International Labour Organisation (ILO) recently adopted a Convention on labour standards for seafarers that will also affect Cyprus. The Convension will be an international legal instrument for the 1.2 million seafarers worldwide and for shipowners and maritime nations around the world. It was adopted at the end of the 10th maritime session of the

A new European Institute of Technology (EIT), which would be a centre of excellence in higher education, research and innovation, has been proposed by the EU exective arm, the European Commission as part of the “Lisbon strategy” to raise the EU’s competitiveness and promote jobs. The Commission has based its work on the results of

Bank of Cyprus shares closed well bid on the CSE ahead of the announcement of the preliminary results Monday afternoon, but a wave of profit taking in Greece, forced the share price lower, closing the gap between the two exchanges. Bank of Cyprus closed at a fresh record of CYP 3.80 on Monday on the

Latest Statistical Service figures for retail sales by volume show that retail sales rose by 2.7% year on year in November, compared with a rise of 8.1% in October. The slowdown seems to be a result of a year-on-year drop in sales of pharmaceuticals, cosmetics and toiletries, after a very strong rise for most of

Cyprus enjoying early spring Tourist arrivals fell year on year for the third month in a row in January, by 6.8% to 54,875. The decline was witnessed across all the key EU markets: the UK (-5.1%), Germany (-19.9%), Sweden (-7.5%), Greece (-15.3%) and Ireland (-63.9%). However, non-EU markets, such as Russia (+43.9%) and Israel (+9.6%)