Vasos Hadjitheodosiou, founder and chairman of the Salamis Organisation, has died aged 83. The company is the owner of the 700-passenger Salamis Filoxenia cruise ship, as well as a fleet of commercial vessels – the cargo Alasa and the RO/RO ferries Alexo and Akritas – operating mainly in the eastern Mediterranean, between ports in Israel,
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The outlook for Oman's banking system remains negative as loan quality weakens and access to funding is tight in a subdued economy, Moody's Investors Service said in a report published Monday. "The challenging environment for businesses and households will lead to increased problem loans," said Mik Kabeya, Assistant Vice President at Moody's. "Our negative outlook
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By Hussein Sayed, Chief Market Strategist at FXTM Equity markets in Asia kicked off the week mixed after the S&P 500 posted a 0.5% decline on Friday, following the latest developments in politics and trade. Reports suggesting the US administration is considering measures to limit flows into China, through delisting Chinese companies from US stock
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. Thomas Cook unceremoniously going belly-up as the sun was setting on another summer holiday season proved how precarious the travel business is, while those who plan their lives a year in advance are not always the smartest apples. There are horror stories of couples spending thousands on a dream Cyprus wedding only for it
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Multi–million construction projects in Larnaca are being jeopardised as the local development plan has been revoked following a court decision citing technicalities. As the Financial Mirror was told by the Larnaca Municipality some 12 projects have been put on ice as the plan has been recalled because the Town Planning board was not in quorum
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With the Cyprus shipping sector employing 9,000 people onshore and a further 55,000 crew onboard ships, of whom 35,000 are on Cypriot-flag vessels, the role of women remains minuscule, and far from the norm of 5% in the worldwide industry. However, this number is changing fast, ever since Cyprus re-introduced maritime academies in recent years,
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. The anachronistic law on statutory tenancies is one of the many drawbacks in the Cyprus real estate market. Statutory tenancy exists only in certain areas (e.g. the towns and some rural Municipalities such as Platres/Ayia Napa/Paralimni etc) and for buildings which are erected/completed before the end of 1999. It covers all sorts of buildings,
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While Cyprus will fail to meet its EU 2020 environmental targets, which include the reduction of CO2 emissions in transport, the government is preparing an incentive scheme to encourage Cypriots to drive cleaner cars. Reportedly, the government is preparing a set of incentive schemes for consumers to replace old vehicles with newer, cleaner cars, to
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. This year’s celebrations marking World Tourism Day could not have come at a worse time for Cyprus, as well as other rival destinations where the economy relies heavily on the leisure sector and related services. The collapse of Thomas Cook, with its implications on Cyprus, is reminiscent of other “too big to fail”
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By Masis der Parthogh Shipping companies in Cyprus, whose merchant fleet is the third biggest in the EU and eleventh in the world, are ready for the challenge of the new sulphur cap on emissions coming into force from January 2020, according to a leading shipowner. George Mouskas, chairman of the Cyprus Union of Shipowners
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