Cypriot sailor, and 2012 Olympic Games silver medallist, Pavlos Kontides is crowned Rolex World Sailor of the Year 2018. “What a unique feeling to be among the top legends of all times. Although I sail on my own, this was a great team effort in a fourteen-year journey that started from a dream, a dream
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UN envoy Jane Holl Lute told President Nicos Anastasiades that it was up to the Cypriot leaders to agree on the way forward and the terms of reference for the resumption of deadlocked Cyprus talks. She said the position of the UN Secretary General is that the parties should determine and agree, the soonest possible,
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A bicommunal Cultural Heritage team has restored the mosaic floor of the 5th century Ayia Triada basilica, located in Karpasia, in the Turkish-held north of Cyprus. Restoration works at the basilica continue, with the project due for completion by 2019. Speaking to CNA, Greek Cypriot Head of the Technical Committee, Takis Hadjidemetriou, said the first
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Despite Cyprus breaking records regarding tourist arrivals, the tourism industry is still heavily depended on the summer season, with the majority of hoteliers not able to keep their operations going during the winter months. According to Cyprus Tourism Organisation data, only 173 out of 410 hotels, just 42%, will remain open during this winter season
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Debt owed by households and businesses recorded a small drop on a quarter-to quarter basis in April to June, Central Bank of Cyprus data shows. Financial assets of households were at the end of June 2018 €45.5 bln, 64% of which was cash and deposits, 2% securities, 20% shares and 14% other financial assets. Household
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Nicosia’s only five-star hotel is up for grabs as its owner, the Cyprus Tourism Development Company, is seeking to sell it before the end of the year. The owners of Hilton Cyprus have assigned PwC with the task of conducting the sale. Greece’s Marfin Investment Group which are the major shareholders in the hotel’s current
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Cyprus Finance Minister Harris Georgiades has reaffirmed the need for the partial privatization of the Cyprus Telecommunications Authority to go ahead as laid out in the government’s budgetary plan. Georgiades, presenting the state’s budgetary plan for 2019, stressed the need for the partial denationalisation of the Authority in order for it to be able to
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Cyprus will make representations to the Organisation for Economic Cooperation and Development (OECD) in a bid to have its citizenship by investment schemes removed from the high-risk category. Being on the list effectively paints Cyprus as country where wealthy individuals can go to avoid paying tax. Sources told the Cyprus News Agency (CNA) that the
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Cyprus Presidential Commissioner Photis Photiou has warned that the Committee on Missing Persons is facing closure due to a lack of new evidence while the fate of many Cypriot missing remains unknown. He called on Turkey to finally cooperate in order to put an end to the ordeal of relatives still left in the dark
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In October economic sentiment in Cyprus deteriorated as the University of Cyprus Economic Sentiment Indicator (ESI-CypERC) decreased by 2.4 points compared with September. It said the decline was mainly driven by lack of confidence in the services sector. But economic confidence in industry, construction, retail trade and among consumers changed only marginally in October. The
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