Three state-of-the-art marinas will soon be added to the Cyprus yachting map within the next two years adding value to the island’s tourism product and real estate options. Limassol is currently leading the way with its new marina development, but other coastal areas are playing catch-up to offer high-quality alternatives with around €2 bln in
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AstroBank has completed the agreement for the acquisition of USB Bank PLC banking operations (including the transfer of USB’s personnel, with the exception of certain properties), for a total consideration of €40.2 mln. The transaction was funded from own resources and supported by a capital increase of €54 mln, mainly by AstroBank’s current shareholders. With this
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British shipping firm P&O Ferries has decided to register its entire English Channel operating fleet in Cyprus due to Brexit, a company spokesman told the Cyprus News Agency. The decision follows the initial re-flagging of two of its ships that operate between Dover and Calais, the ‘Pride of Britain’ and the ‘Pride of France’.
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. As wonderful as the news of record rainfall might be, the problems created by the torrent of the last few weeks should have been foreseen and handled better, albeit less tragic than previous years. The gush of water and the mud that it dragged with it created serious problems to the irrigation and supply
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. By Alon Ben-Meir Israeli Prime Minister Netanyahu’s decision to call for an early election, scheduled to take place on April 9, was really nothing short of another political stunt that Netanyahu has masterfully learned to employ when the time is right and he is reasonably assured of another victory. One would think, however, that after
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Turkish Cypriot conscientious objector Halil Karapasaoglu was released from prison on Friday after being sent to prison for not paying a 2000 TL (EUR 360) fine imposed by a military court in the north of Cyprus for refusing to participate in reservist duties. The conscientious objector had refused to serve in the Turkish army as
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The island’s largest lender, Bank of Cyprus announced that it is to close 15 branches as part of a restructuring plan. In statement released on Friday by its director of Consumer Banking Charis Pouangare, the bank states that 15 branches are to merge with other BoC outlets. There were no further details on which branches
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Pittas Dairy industries ceased production as of Friday, despite staff reporting for duty, they were not able to start the day’s production as there was no milk available to work with. According to press reports the company’s assets were frozen as the temporary appointment of the company’s official liquidators, tasked with drawing up a reorganization
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The House Price Index (HPI) in Q3 2018 increased 0.2% reaching 104.19 units compared to Q2, while compared to the same period a year ago the index rose 1.7%. The HPI is a quarterly index which measures the change in the average prices of residential dwellings. It captures all types of residential properties, both new
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Cyprus Post seeks to use unmanned drones to deliver parcels of up to four kilos to recipients, Andreas Gregoriou, Director of the Department of Postal Services told the Cyprus News Agency (CNA). He said the Department is in contact with the University of Cyprus KIOS Research Centre to see what’s possible. “We are at a
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