Post-crisis Cypriots still appear to be suspicious of the banking system, as many are choosing to stash their cash, along with other valuables, in safety deposit boxes. Currently Bank of Cyprus and Hellenic Bank have 17,000 such boxes leased to customers. It is believed that customers opt for the safety deposit boxes in order to
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International Chamber of Shipping (ICS) chairman Esben Poulsson fears the USD 50 bln operational impact and safety issues new Sulphur emission regulations will pose next year. “Nevertheless, the industry still has operational and safety concerns relating to the worldwide availability of compliant and safe fuels as well as the realistic and pragmatic global enforcement of
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Cyprus tourism is in for a rough ride this year with officials saying that maintaining 2018’s tourist arrival figures would be deemed a success. Deputy Tourism Minister Savvas Perdios said that arrivals are expected to record a small drop in 2019, with indications so far not being sufficient to determine the size of that decline.
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Kyriacos Kokkinos, chairman of Research and Innovation Foundation, has expressed the government’s commitment to provide the necessary 5G infrastructure to beef up shameful internet speeds. He assured participants at the that the Cyprus IT Forum 2019, that the government acknowledges the importance of the IT industry and is fully committed to turning Cyprus into Europe’s
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By Jameel Ahmad, Global Head of Currency Strategy & Market Research at FXTM Now that United Kingdom traders are returning back to office following Monday’s public holiday, we should expect for the fallout from the Brexit Party’s success in the European Parliamentary elections to put the spotlight even firmer on the pressure for the next
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A national maritime Search & Rescue exercise codenamed "Argonaut 2019" got underway off Cyprus on Tuesday. The exercise, held from May 28-30, involves the Ministry of Defence announced, in cooperation with Ministries of Interior and Foreign Affairs and is observed by a large number of foreign army officers and members of the diplomatic corps. The
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. After more than two decades, a real step forward has been made by Cyprus and Egypt, supported by Greece, to set up the first ever North African-European power interconnector. This is not new, as several projects have been started with the goal to connect the Southern Mediterranean with Europe. After decades of subsea gas
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Washington aims to work with regional allies, Cyprus and Israel, to temper Russia’s influence and exploit energy reserves, US Congress Foreign Affairs Committee chair Eliot Engel said. After meeting Cyprus President Nicos Anastasiades on Monday, Engel said: “The energy rights that this country has are exciting, it is a new threshold and I think that
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Sunday’s Euro Elections result was a setback for democracy and the struggle for gender parity as Cyprus failed to elect a woman as Member of the European Parliament, said the Commissioner for Gender Equality. “This has undoubtedly delivered a blow to the Democracy of Equality. Stereotypes and gender segregation have unfortunately created a negative image
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A worsening of economic confidence in services, retail trade and among consumers in May saw the University of Cyprus Economic Sentiment Indicator (ESI‐ CypERC) decline by 1.3 points from April. On an annual basis, the index is down 1.24% to 111.4 from 112.8 in May 2018. The Services Confidence Indicator declined in May 2019 due
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