Cypriot Energy Minister George Lakkotrypis said a decision to set up the ‘East Mediterranean Gas Forum’ was of enormous importance to Cyprus. Cyprus, Greece, Egypt, Italy, Israel, Jordan and Palestine participated in the ‘East Mediterranean Gas Forum’ based in Egypt and its objective is the optimal joint exploitation of hydrocarbon resources in the East Med.
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Turkish Cypriot conscientious objector, Halil Karapasaoglu was sent to prison on Tuesday for not paying a 2000 TL (EUR 360) fine imposed by a military court in the north for refusing to do reservist duties. Karapasaoglu was given 10 days to pay or spend three weeks in prison, he chose the latter. He was arrested
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. The property market in Cyprus was buoyant last year with high levels of sales recorded in both the residential and commercial sectors. The increased demand pushed up prices, so investors were happy. Rental returns were also impressive. One survey, conducted for the Danos real estate group, showed rents had increased by 15% over the
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Major halloumi exporter Pittas Dairy Industries has found itself in dire financial straits as creditors have rejected a rescue plan for the company, putting its future at risk. The company has faced a difficult financial situation in recent months, with temporary liquidators appointed to prepare a reorganization and settlement plan which, if approved, could set
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Remedica, the Cypriot pharmaceutical company, may soon find itself under new ownership as announced by sole shareholders South African company Ascendis. The debt-laden maker of multivitamins, probiotics and pet nutritional supplements received an unsolicited offer for Cyprus unit Remedica. In an announcement issued to the Cyprus Stock Exchange, the company said that the development may
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Insurance companies offering private health plans in Cyprus are not worried about losing business due to the introduction of the universal General Healthcare System from June 2019. While they do not anticipate any differentiation in their client’s behaviour, they do expect that the GHS will actually give the sector the push it needs by creating
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Cyprus was the odd man out when more than 120 MEPs from every corner of EU signed heartfelt letter asking the British people to reconsider Brexit. The plea comes from 26 member states and across the European parliament’s different political groups, Cyprus was the only country not to add its voice urging for the bloc
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In 2017 the proportion of pensioners at risk of poverty in the European Union was estimated to be 14.2%, slightly above the figure of 13.8 % in 2016. The rate has been rising gradually since 2013, when it was 12.6%. For Cyprus the at-risk-of-poverty rate for pensioners was way above the EU average at 21.6%
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By Hussein Sayed, Chief Market Strategist at FXTM After a sea of red across equity markets on Monday following weak Chinese export data and disappointing Euro industrial production figures, Asian markets managed to rebound early Tuesday with futures also indicating a positive start to European and U.S. equities. Despite the recovery, risks remain to
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Cyprus recorded a current account surplus of €0.1 bn in Q3 2018 and trade in services surplus of €1.4bn in the same quarter, according to Eurostat. The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of €38.7 bn (1.0% of GDP) in Q3 2018, down from a surplus of €59.9
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