The future of the Eastern Mediterranean as an oil and gas service centre took centre stage this week as executives from leading energy companies gathered in Cyprus to attend the 2019 Eastern Mediterranean Gas Conference (EMGC 2019). “With strong operator support and regional representation, EMGC is an invaluable resource for those looking to develop the
More
Hydrocarbon companies active in Cyprus urged the government to find immediate solutions for infrastructure-related issues and help firms providing support services. Representatives of ENI, Total and ExxonMobil, attending the 6th Eastern Mediterranean Gas Conference in Nicosia, also referred to Cyprus’ capacity to become a hub providing services for hydrocarbon activities but underlined the need to
More
President Nicos Anastasiades has backed his Finance Minister, rejecting findings of a public inquiry into the demise of the Cyprus Co-op Bank which found Harris Georgiades primarily responsibility for its demise. By openly backing Georgiades, the President has directly responded to calls from the Opposition to sack the minister, while at the same time highlighting
More
Hermes Airports was awarded the "Best International Airport Management Company 2019 in the Mediterranean" at the Air Transport Awards by the UK's International Transport News magazine. The ‘Air Transport Awards’ recognises those companies and individuals who are soaring above the industry’s competition, by contributing to the wellbeing and advancement of their wider industry and country.
More
Energy Minister George Lakkotrypis said on Thursday he expects to be informed within the next couple of weeks about a new discovery of natural gas resource at the Calypso well in Block 6 of Cyprus’ Exclusive Economic Zone (EEZ). “I expect during the coming days, the next one or two weeks that they (Eni-Total consortium)
More
Cyprus, Greece, Italy and Malta will not agree to fragmenting the debate on immigration that does not include a comprehensive reform of the Dublin regulation on asylum seekers. This is the position of Cypriot Interior Minister Constantinos Petrides who sounded a warning in Brussels on Thursday that countries on the frontline of irregular migration need
More
Seasonally adjusted GDP rose by 0.2% in the euro area, 0.3% in the EU28, but a higher 1.1% in Cyprus during Q4 2018, according to Eurostat. In Q3 2018, GDP had grown by 0.1% in the euro area, by 0.3% in the EU28, by 0.8% in Cyprus and by 1% in Greece. Compared with the
More
In February, the Consumer Price Index (CPI) increased by 0.03 units to 99.79 units compared to 99.76 units in January 2019. Compared to a year ago, the CPI increased by 1.2% in Cyprus. In the twelve-month period from March 2018 to February 2019, compared to the period from March 2017 to February 2018, the annual
More
The government rejects the findings of a public inquiry into the demise of the Cyprus Co-op Bank which found that Finance Minister Harris Georgiades bears the most responsibility for its failure. Opposition parties have demanded that Georgiades assumes responsibility for the collapse of the island’s second largest bank following the probe’s findings. Main opposition party
More
Parliament approving the conversion of a certain type of deferred tax assets (DTAs) into deferred tax credits (DTCs) was good news for Cyprus’ largest bank, said ratings agency Moody’s. “Bank of Cyprus (B3 positive, caa11) is the main beneficiary of the amendment, and the conversion of eligible DTAs into “government claims” under certain conditions will
More