The heart of Nicosia is to play host to a new boutique hotel as Bank of Cyprus and an Israeli company are a step away from sealing a €9 mln deal that involves an ex-Laiki Bank building in the city centre. The building that once hosted Laiki Bank offices on Makarios Avenue in Nicosia has
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Woodbrook Group, a Cyprus-based independent financial advisory and corporate services company with offices across Europe, Asia and the Middle-East, has signalled further expansion with the announcement of a significant new appointment. Mann Vergan has been appointed as Director of Legal and Corporate Services of Woodbrook Group Holdings Inc. In his new role, Vergan will work
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A decline of nonperforming exposures (NPEs) in September, which showed a €5.6 bln or 33.6% decline versus August 2018, is credit positive for the Cypriot banking system because it reduces asset quality risks and supports depositor confidence, said Moody’s. It said the NPE improvement primarily reflects the resolution of Cyprus Cooperative Bank (CCB) and subsequent
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The stormy weather and cold front that has gripped Cyprus over the past few days has seen a torrent of rainfall, with many dams and reservoirs overflowing and storage levels reaching a peak on this otherwise dry island. The record downpour of the past 24 hours alone saw some 23 cubic meters flowing into dams,
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Greece’s Energean Oil and Gas says its Israel fields Karish and Tanin remain on track to deliver first gas into the Israeli domestic market in 1Q 2021. Its chief executive Mathios Rigas said: "2018 was a very successful year for Energean. We increased revenues by 56% while reducing cost of production 29%, made significant progress
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With the help of thirsty tourists, beer sales in Cyprus reached 41 million litres in 2018, their highest level since 2002 when such data was recorded. According to figures released Wednesday by the Statistical Service, total deliveries of beer from the factories in 2018 reached 41 million litres, compared with 39.4 million in 2017. Of
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Hopes of seeing the once proud Berengaria Hotel revived to its former glory have gone up in smoke as efforts by Bank of Cyprus to offload the property through a bidding process has failed spectacularly. According to a BoC official, the property attracted zero interest with not a single bid being submitted. Disappointed by the
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By Lukman Otunuga, Research Analyst at FXTM Investors were thrown onto an emotional rollercoaster ride Tuesday evening as Sterling rallied across the board despite Theresa May’s historic Brexit defeat in the House of Commons. Expectations were initially elevated over the Pound witnessing downside shocks in the event of PM May losing by more than 100
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Google searches by people interested in a Cyprus holiday reach about 100 million a year, while in 2017 there was a 60% increase, according to Google’s Travel manager for Greece, Bulgaria, Cyprus and Malta. Speaking at the Digi.travel conference in Nicosia Orestis Andrianis said the increase in searches for Cyprus via Google was the 7th
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. By Cyril Widdershoven East Mediterranean energy security has received a major boost, after the announcement of an East Mediterranean Gas Forum in Cairo, Egypt. At a meeting of six Mediterranean countries in Egypt, Egypt’s Ministry of Petroleum announced the setup of the Eastern Mediterranean Gas Forum (EMGF), with Cairo as its headquarters. The latter
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