Local banks have laid down the ground work for the state scheme ESTIA which will be set-up to manage mortgage-backed NPL portfolios of the Cyprus banking system. Although the scheme has yet to be presented to parliament, Bank of Cyprus has identified some 5,000 vulnerable borrowers and has sent out letters urging them to submit
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Larnaca-based Cyprus Airways has become a member of the International Air Transport Association (IATA) that represents more than 280 airlines around the world. In July, Cyprus Airways successfully completed the IATA Operational Safety Audit (IOSA) registration, a pre-requisite for an IATA membership, after a rigorous audit program that certified the company´s compliance with internationally approved
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Nicosia has protested to the UN Secretary General over provocative acts by Turkey against fishing vessels flying the Cyprus flag within the island’s maritime zones and on the high seas. In a letter to UN chief Antonio Guterres, the Permanent Representative of Cyprus to the UN, Ambassador Kornelios Korneliou details incidents that took place in
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Prospects for Cyprus reunification remain alive but fresh ideas are needed to unblock a stagnated process, United Nations Secretary General Antonio Guterres told the Security Council in a report on his good offices mission. There is no new process on the horizon, but UN envoy Jane Holl Lute will continue discussions to gauge the true
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Women are under–represented in the field of information and communication technologies (ICT), both at an educational and professional level, speakers at a workshop on women in the digital age said on Monday. They argued that closing the gap between men and women in ICT would yield important social and economic benefits for them and national
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. The government’s foreign investment arm, Invest Cyprus, declared a package of incentives to turn the island into a filming destination. Although still pending parliamentary approval, it is an ambitious effort to attract major film studios to choose the island as an open-air location, and to encourage producers and directors to use Cyprus as a
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Cyprus ranks first among fellow EU states in absorption of funds from the European Regional Development Fund and sixth when it comes to all European Funds. This is according to the Annual report of the European Court of Auditors. European Court of Auditors member Lazaros Lazarou, who presented the report to President Nicos Anastasiades, said
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Cypriot Defence Minister Savvas Angelides is on an official visit to Egypt to boost military cooperation in the region as tensions bubble up over Cyprus’ East Med energy search. Monday’s Cairo talks will cover regional security and cooperation, energy security and prospects for cooperation in the Eastern Mediterranean, bilateral relations and ways to strengthen them.
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Top scientists from around the world will gather in Nicosia to decide the future of Mars space missions. The International Space Summit is organized by the Cyprus Space Exploration Organisation (CSEO) as part of its ongoing efforts to develop the sector on the island. The summit will be attended by top-level scientists, such as the
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Real estate experts believe the Cyprus property market is on the up but are wary that repossessed houses dumped on the market could derail the grassroots of recovery. The House Price Index (HPI) reached 103.98 units for the second quarter of the year, increasing by 0.6% compared to the first three months of 2018. The
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