Outgoing Bank of Cyprus chairman Josef Ackermann purchased 400,000 extra BoC stocks, increasing his holding to 550,000 shares, signalling his confidence in the bank and the significant progress it has achieved. The show of confidence in the bank equals an investment of €484,000 with the share trading at €1.21 on the London Stock Exchange on
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Nicosia has approved measures to compensate for the significant loss of tourists from Germany expected this summer after the collapse of airlines Germania, Cobalt and Air Berlin. Tourism Minister Savvas Perdios said after Wednesday’s cabinet meeting that the government has decided on several actions to promote Cyprus in the German market in an effort to
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Nearly half of Cyprus businesses (49%) found it hard to recruit ICT specialists for jobs requiring digital skills, according to Eurostat. During 2017, 9% of EU enterprises recruited or tried to recruit ICT specialists and 5% reported having hard-to-fill vacancies for jobs requiring relevant ICT skills. In other words, over half (53%) of all European
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The European Union is providing €70,000 to the Technical Committee on Cultural Heritage and UNDP for the rehabilitation of six cemeteries across divided Cyprus as part of confidence building measures between Turkish Cypriots and Greek Cypriots. This new initiative is in response to requests from the communities to include cemeteries in its list of projects
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Cyprus is closer to having a 35-year US arms embargo lifted by Washington after a three-day visit by Cypriot Foreign Minister Nikos Christodoulides. During his visit to Washington Christodoulides discussed the arms embargo against Cyprus implemented by the US since 1987, security and energy matters and the Cyprus problem in meetings with Senator Bob Menendez
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Nicosia seeks a meeting between Cypriot President Nicos Anastasiades and US President Donald Trump to underscore the blossoming strong relationship between the two countries. The visit to upgrade bilateral relations was at the centre of discussions between Cypriot Foreign Minister Nikos Christodoulides and US Under Secretary of State for Political Affairs David Hale in Washington.
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Economic Sentiment declined in March for the third month in a row mainly due to a deterioration in business confidence in the services sector, the University of Cyprus Economic Research Centre (ERC) said. The Economic Sentiment Indicator (ESI) declined by 2.0 points to 110.3 points in March compared to 112.3 the previous month. At the
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Motorists have seen no benefit after Cyprus MPs voted for a decrease in consumer tax on petrol in December, as pump prices are nearly back to the same levels. After international oil prices fell, combined with the tax cut petrol at the pumps (95 Octanes) fell to EUR 1.05 per litre from 1.24 at the
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The European Parliament voted in favour of measures to clampdown on “tax haven characteristics” and golden visas in seven EU Member States, including Cyprus. Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta and the Netherlands were all specifically mentioned for shortcomings in their tax systems that facilitate aggressive tax planning. The Tax3 committee report
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Twelve years have passed since Cyprus dismantled its national speed camera network but reintroducing them on the island’s roads to prevent traffic carnage has proven difficult. Justice Minister Ionas Nicolaou has set a time frame for the installation of new cameras in early 2020 instead at the end of 2019 as officials had mooted. However,
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