A group of 28 aviation industry CEOs and association leaders has sent an open letter to governments committing to climate action and calling for a joint approach to help deliver maximum CO2 emissions reductions in the aviation sector. In particular, the industry group urged action to approve a meaningful market-based measure for aviation emissions, expected
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With new functionality in Quorum Cypriot software developer InfoScreen proudly announces the release of a premium KYC/AML Compliance solution integrated in its existing and very successful flagship product, Quorum. KYC/AML offers Quorum users – Law Firms, Auditing Offices and Fiduciaries – the needed infrastructure for effective risk management and compliance to meet the requirements set
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By Lukman Otunuga, Research Analyst, FXTM The Reserve Bank of India (RBI) shocked market participants on Tuesday by not only cutting interest rates for the fourth time this year, but by a much larger amount than expected at 50 basis points. Although economic growth in India is strong, it is suffering from a decline in
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Bank of Cyprus announced that it has completed the sale of the majority of its Russian operations through the subsidiary BOC Russia (Holdings) Ltd., comprising its holdings of 80% in CB Uniastrum Bank LLC, and 80% in its leasing subsidiary, Leasing Co. Uniastrum Leasing LLC, as well as other Russian loan exposures, to Artem Avetisyan,
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German companies currently enjoy easier access to credit than ever before, according to the latest survey from Munich-based Ifo Institut. Credit constraints for German trade and industry plunged to a new historic low of 14.8% in September from 15.0% the previous month. Financing conditions remain excellent and there are practically no credit constraints for German
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Up to one thousand Turkish Cypriots from the north will take part in a special pilgrimage to Hala Sultan Tekke at 1pm on Wednesday. The pilgrimage marks the Muslim feast of Eid Al Adha or Kurban Bayram and is taking place at the request of Archbishop Chrysostomos II on behalf of the Mufti of Cyprus
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By Jameel Ahmad, Chief Market Analyst, FXTM While the currency markets appear to have commenced the week quietly, there is volatility in indices with major European markets currently trading over 1% lower. The Volkswagen scandal is still making headlines and while this could be impacting investor sentiment, the losses seen throughout the European markets are
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The Ministry of Energy, Commerce, Industry and Tourism, licensor for the offshore oil and gas fields within the Cyprus Exclusive Economic Zone, has signed a non-exclusive agreement with Silicon Valley company NEOS GeoSolutions Inc. for the conduct of onshore and near-shore geophysical surveys. The agreement, signed by Energy Minister Yiorgos Lakkotrypis, and NEOS President and
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Hellenic Bank, the recently capitalised Cyprus bank that includes New York fund Third Point and online gamer Wargaming.Net as its main shareholders, has confirmed that the European Bank for Reconstruction and Development (EBRD) has agreed to acquire a 5.4% stake. Hellenic Bank’s board announced it has decided to proceed in favour of EBRD’s participation, providing
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H & M Hennes & Mauritz AB (H&M), the Swedish multinational retail-clothing company, will be opening its first store in Cyprus next year, replacing the current tenant Debenhams in the landmark Shacolas Tower of the capital Nicosia. The NK Shacolas Group retail and property companies listed on the Cyprus Stock Exchange, Ermes Department Stores Plc
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