Salamis Lines recently purchased the 700 TEU capacity Alasa container ship to expand its fleet, complementing the Alios Ro/Ro operating the Haifa-Limassol-Lavrio route. The Alasa will operate the Limassol-Haifa-Piraeus route, with both
Hellenic Bank, the island’s third biggest lender that avoided a state bailout, posted a profit of €6.2 mln in the third quarter, compared to a second-quarter loss of €11.8 mln and a
The prospects of terminating Cyprus’ energy isolation through the creation of an energy union, together with its potential impact on enhancing energy security and contributing to lower energy costs for consumers were
The government has lowered the value added tax (VAT) for repair and reconstruction work on residential units from the universal 19% to 5%, valid for all homes, including non-primary. The Cabinet decided
John Hourican has agreed to stay on as CEO of the Bank of Cyprus, the island’s biggest lender that under his watch concluded a major restructuring plan and boosted fundamentals. Board Chairman
Bank of Cyprus announced profits of €73 mln for the first nine months of the year, marginally down from the same three quarters last year, hampered by the loss-making Russian subsidiary Uniastrum
The Ministry of Energy, Commerce, Industry and Tourism announced that it has received a request from Noble Energy International for a farm-out agreement with BG International, for a portion of its interest
The number of lives lost to terrorism increased by 80% in 2014, reaching the highest level ever recorded at 32,658. This compares to 18,111 in 2013, according to the third edition of
* Outlook stable, as bank rating upgrades could follow * Moody’s Investors Service upgraded Cyprus’ government bond rating by two notches to B1 from B3 on Friday, maintaining a ‘stable’ outlook, with
Cyprus seems to be doing well as regards the implementation of of the economic reform programme, but still needs to overcome three major hurdles in order to secure the next tranche of
