. Port workers in Limassol are threatening to go on strike, yet again, this time claiming that the privateer operators (DP World, Eurogate) violated or have not respected the collective labour agreements. It all boils down to pay. Trade unions, encouraged by complaints from members of the shippers’ association this week, that Limassol port’s new
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Europe’s largest integrated casino resort (ICR) is on track to open in Limassol in 2021 but the cost will exceed the initial construction budget of EUR 550 mln. “It looks like we will go beyond the EUR 555 mln first mentioned…it will be greater than that number,” said Craig Ballantyne, Property President of City of
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. By Cyril Widdershoven The growing regional energy cooperation between Israel, Cyprus and Greece has been given another boost this week. During the 5th trilateral summit, Israel’s PM Benjamin Netanyahu, Cypriot President Nicos Anastasiades and Greek PM Alexis Tsipras stated in the Israeli city of Beersheva that they will sign an agreement early 2019 to
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. Like car insurance contracts with various small print conditions, a similar situation exists with property insurance terms (very few people read and even less understand them). Even if one insured their building for “all purposes” including acts of God (rain floods etc.) be sure that the insurance firm has its back covered in order
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The Cypriot economy will continue to grow with a robust GDP growth above 3% until 2021 mainly underpinned by strong domestic demand, economic activity and investments, the Central Bank of Cyprus (CBC) said in its economic bulletin for December. The CBC projects that economic growth will reach 3.8% in 2018 and will decelerate to 3.7%
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Cyprus Casinos has opened a casino at Larnaca International Airport. It is the second licensed satellite casino in Cyprus after the successful launch of the first temporary casino in Limassol in June and the first satellite casino in Nicosia earlier this month. C2 Larnaca located in two different spaces in the Airport terminal, features 42
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Hellenic Bank said that its recoveries subsidiary APS Debt Servicing Cyprus, Real Estate Division, has sold a prime plot in Kato Paphos for a cool €12.5 mln to Constantinou Bros Hotels Group. The plot, a field of 125,000 sqm, lies on the northern side of Poseidonos Avenue, literally across the street from Constantinou’s other properties, the 5-star Athena, the Pioneer Beach
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Bank of Cyprus has conceded defeat in trying to sell the landmark Berengaria Hotel for €2.36 mln by launching a bidding process for the “best offer” until 14 January. The bank – which owns the deeds to the derelict property – called for bids to be submitted in sealed envelopes to be opened in Nicosia
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. By Andreas Poullikkas The question of how electricity markets can operate in a more cost-effective way can be posed in relation with every single sector of the economy, however, electricity has special features since it consists of four distinct activities: (a) generation (b) transmission (c) distribution and (d) supply. The transmission and distribution activities
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While the majority of businesses recognise which capabilities are important for their future success, many are failing to take the actions needed to build or even introduce them into their organisations, according to a PwC survey. These actions include using data analytics to make workforce decisions and creating a compelling work experience for employees. PwC’s
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