Cyprus should exploit the current favourable growth momentum to implement structural reforms that would boost the competitiveness of the economy, Hellenic Bank’s Department of Economic Research said in review for H1 2019. The department’s baseline scenario forecasts a GDP growth rate of 3.4% in 2019 and 3.2% in 2020 with the unemployment rate declining to
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Melco Resorts & Entertainment has agreed to acquire parent company Melco International Development’s entire 75% stake in ICR Cyprus – the operating entity of under construction integrated resort casino City of Dreams Mediterranean. The share purchase agreement will see Melco Resorts take control of the Cyprus development in exchange for 55.5 million ordinary shares, equivalent
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Nicosia accuses Turkey and the breakaway Turkish-held north of the island of colluding to assist people trafficking networks smuggle migrants into the Republic of Cyprus. Cyprus Interior Minister Constantinos Petrides told state radio that a large influx of migrants were arriving by plane in the north from Turkey then finding their way into the government-controlled
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Britain’s newest and most advanced generation of fighter jet, the Lightning F-35B, has successfully completed its first operational missions over Iraq and Syria from an RAF base in Cyprus. F-35s have flown alongside Typhoon aircraft on operational flights over the skies of Syria and Iraq, as part of the ongoing fight against Daesh, the UK
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. The horse-trading over who will be the next president of the EU Commission has pushed another important European appointment out of the headlines. The presidency of the European Central Bank is, arguably, as crucial a role as that of heading the commission. And whoever succeeds Mario Draghi in October will have a hard act
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Cyprus start-ups and other enterprises will have the opportunity to raise funding from three ground-breaking programs, aimed at boosting innovative entrepreneurship and promoting products or services. The three programs with a total budget of €18 mln were presented Monday at the workshop “Financing your Innovation” organised by the Research and Innovation Foundation in collaboration with
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It will take Brussels some time to decide on targeted EU measures against Turkey for violating Cyprus’ Exclusive Economic Zone, Cypriot President Nicos Anastasiades admits. Last week the European Council expressed “serious concerns over Turkey`s current illegal drilling activities in the Eastern Mediterranean” and backed Brussels to “submit options for appropriate measures without delay, including
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A tearful Greek Cypriot serial killer sentenced to life in prison on Monday, apologized to his seven victims after pleading guilty to the murders of five foreign women and their two young daughters. Cypriot army captain Nikos Metaxas, 35, pleaded guilty on Monday to seven counts of premeditated murder and kidnapping with the aim to
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. Addressing the Central Conference on Work Relating to Foreign Affairs held in Beijing in June 2018, President Xi Jinping put forward his “Thought on Diplomacy of Socialism with Chinese Characteristics for a New Era” to serve as a guide to all those dealing with Chinese diplomacy. The president said that the goal of diplomatic
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. As we are gaining experience on insurance covers and the various tricks that the insurance firms come up with, here is a new experience on the subject. Firstly, and based on our previous report (on insurance company tricks and illegalities) we had a visit from the administrative staff of the Association of the Insurance
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