Ship owners and ship managers in Cyprus are bracing for new emission rules that kick-in worldwide from January 2020, with the global umbrella group International Chamber of Shipping saying that the industry will need to detach itself from fossil fuels ahead of ambitious decarbonisation targets set for 2050. “The 2020 global sulphur cap will be
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. Cyprus may have enjoyed three seasons of record growth in tourist arrivals, with total income also at best-ever levels, however, certain factors may contribute to a slowdown in these figures if the right measures are not taken. A key number that should not be underestimated is the per capita spend of tourists that retreated
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With fewer Cypriots casting their vote in the previous European Parliament Elections in 2014, the picture is not expected to change in this year’s ballot to be held on 26 May. The first European elections in Cyprus in 2004 saw an enthusiastic 72.5% turnout. In 2009 the turnout was a much smaller 59.4% and in
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President Nicos Anastasiades has revealed the government’s plans to merge the municipalities of Ayios Dhometios, Engomi and Aglandjia into one, essentially creating a Municipality of Greater Nicosia. Talking at the opening ceremony of the new building which is to host the Nicosia Municipality offices, President Anastasiades said that by merging the four municipalities, Nicosia will
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Cyprus’ Parliament has approved legislation creating a National Investment Fund to manage revenue from the exploitation of the country’s hydrocarbon resources. With a vote of 43 in favour and 7 against, the House of Representatives passed the legislative framework for the establishment and operation of the wealth fund and the Cyprus Investment Management Organization which
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Cyprus notched up its best ever revenue from tourism in 2018 with receipts recording an annual high of 2.7 billion euros, official data showed Friday. Revenue from tourism rose 2.7 per cent year-on-year with income estimated at €2.71 bln compared to €2.63 bln the previous year which held the previous record. Record-breaking income follows an
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Cyprus is closer to becoming a regional energy player after the discovery of an estimated 5-8 trillion cubic feet of natural gas deposit in block 10 of the island's EEZ. ExxonMobil’s discovery in combination with already mapped reserves and future findings, bring Cyprus closer to having enough resources to proceed with the construction of a
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Spain is by far the biggest olive producer in the EU, providing a majority (59.0 %) of total EU olive production. It produced 6 million tonnes of olives, but this was -8.2% lower than in 2016. The latest results of the five-yearly EU orchard survey indicate that the area under olive trees in the EU
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Greek company NBG PANGAEA will become the owner of 21 large commercial properties on the island after a deal with Bank of Cyprus to buy a Real Estate Investment Fund established by the bank. According to Bank of Cyprus sources, the deal is expected to be finalised at the end of Q1 2019 with a
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Tens of litres of milk were spilt on roads in north Nicosia, on the second day of demonstrations by Turkish Cypriot farmers and animal breeders. Farmers and livestock breeders are demonstrating over the high price they are paying for barley and the low price they are ‘forced to sell their milk’ to a body under
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