The Cyprus Chamber of Shipping, the umbrella organisation for the entire maritime sector of shipowners, managers and services, has hailed the unanimous decision by MPs to forward for a vote the legislation that will define three new branches of the executive – shipping, tourism and development. The three State Secretariats will operate independently of
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. With presidential elections just over six months away, and the public attention focused on the resumption of talks at the Cyprus Conference this week, trade unions are back with their old tricks, demanding pay rises, this time from two leading banks. Union bosses have not yet realised that banks, having gradually recovered from
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. By Theodosis Mourouzis Initial Coin Offering, or commonly known as ICO, is a form of crowdfunding or fund-raising activity based either on established cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) or fiat currencies. Startups that are incorporating coins/tokens into their product’s design, are using ICO as a route for capital raising since
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Valuers & Estate Agents In Greece, it is normal in the case of a rather large scale development project to either offer for free or very cheap a unit, e.g. house, to a celebrity, in order to attract as an addition
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Construction, consumer confidence are negative drivers The economic sentiment in Cyprus deteriorated slightly in June, according to the University of Cyprus monthly Economic Sentiment Indicator (ESI-CypERC) that declined by 0.8 points from May. The UCy Economics Research Centre (CypERC) said the drop was a result of weaker confidence in the construction sector and among consumers.
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The Israeli-owned oil and gas exploration company Cyprus Opportunity has entered the U.S. oil drilling and production having announced the purchase of ten oil wells in North Dakota. The company intends to perform two development drillings this year and two more next year, when the cash flow from oil sales is expected to begin.
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Bank of Cyprus announce that it has appointed Marios Kalochoritis as a Senior Advisor to the Group Chief Executive Officer and will resign from the bank’s board of directors. As a Senior Advisor, Kalochoritis will oversee and help manage certain of the assets and exposures that were acquired by the bank during the recent
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Melco International Development Ltd, the Hong Kong-based leisure gambling and property company, has taken a 70.74% controlling stake of the integrated casino resort project in Cyprus, with the agreement to purchase Hard Rock International’s interest in the venture. The announcement came a day after the government signed the license agreement with Hard Rock for
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Moody’s Investors’ Service on Friday upgraded Bank of Cyprus Public Company Limited’s (BoC’s) long-term local and foreign currency deposit ratings to Caa1 from Caa2 and its Provisional Senior Unsecured EMTN ratings to (P)Caa1; and Subordinated and Junior Subordinated to (P)Caa2. The bank’s Not Prime short term ratings have been affirmed. The rating action is driven
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Could LNG as fuel choice contribute to the revival of the Greek shipbuilding sector? How could the Greek shipyards be “LNG ready”? These questions, as well as the present and the future of the shipbuilding industry within the LNG era, were the focus of discussion organised by Piraeus Port Authority (PPA) within the framework
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