* Would be worse for the economy than unification * By Fiona Mullen Director, Sapienta Economics Ltd Three days after 24 April 2004, when the referendum on the Annan Plan was rejected by 76% of Greek Cypriots and accepted by 65% of Turkish Cypriots, I wrote the following in this newspaper about what might happen
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Mayor Savvas Vergas, who is serving an eight-day remand order pending investigations in local affairs, resigned on Tuesday with Paphos now headed to by-elections on January 11. His decision, conveyed by lawyers to Interior Minister Socratis Hasikos, helps resolve an impasse created by Vergas’ involvement in several cases in the town that has also seen
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Cyprus is expected to return to growth next year, with the economy expected to expand for the first time in four years by 0.5%, Central Bank chief Chrystalla Georghadji told MPs. The centralbanker was optimistic that the recovery was at a faster pace than forecast and that with the banking system now seeming to have
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By Jameel Ahmad, Chief Market Analyst at FXTM The week could not have gotten off to much more of a negative start with a series of disappointing economic data. The negativity started with China’s manufacturing activity announced to be slowing more than expected, followed by indications EU economic woes are returning when it was announced
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Bank of Cyprus, the recently recapitalised lender that raised about €1 bln and attracted new strategic investors, such as Wilbur L. Ross Jr. and the EBRD, is embarking on a series of non-deal roadshows in New York and London this week, in an effort to raise awareness and pave the ground for new bond issues.
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The ultimate owners of FBME Bank are seeking in excess of $500 mln in damages from the Cyprus government through an arbitration process that has been filed with Paris-based International Chamber of Commerce, over a decision to place the bank under administration and proceed with a forced sale of the operations. In July, the Central
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Etihad Airways, the national airline of the United Arab Emirates, has been named CAPA Airline of the Year at the CAPA Aviation Awards for Excellence 2014 held in Antwerp, Belgium. The CAPA Aviation Awards for Excellence, the world’s pre-eminent aviation strategy awards, are for strategic leadership in the aviation industry. The Airline of the Year
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Interior Minister Socratis Hasikos said that the missing millions of the Paphos Sewerage Board (SAPA) scandal that has been revealed may be “the tip of the iceberg” and that many more people may be involved in the bribes and graft related to the matter. The town’s Mayor and ex-officio chairman of the SAPA board, Savvas
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President Nicos Anastasiades arrived in New York on Sunday to prepare for a corrective operation on his heart’s mitral valve at the Mount Sinai hospital. He was greeted at the airport by the Cyprus Permanent Representative at the United Nations Nicos Emiliou. A government announcement said that Anastasiades, accompanied by First Lady Andrie and his
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Construction giant Joannou and Paraskevaides (J&P) has delivered the first phase of a €300 mln fuel storage terminal and docking jetty to its owners, VTT Vasiliko, during a humble ceremony on Friday, with the first tanker ships expected after testing in a few weeks. The ambitious project, the largest foreign direct investment on the island
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