The Governor of the Central Bank of Cyprus, Chrystalla Georkadji, has finally tasted some of her own medicine, not as the keeper of the island’s treasury, but in the role she persistently kept for over a decade as watchdog of the state services and abuse of public funds. Former Auditor General Georkadji has been chastised

Nasos Ktorides, the Chairman and Chief Executive Officer of EuroAsia Interconnector, the international subsea cable project with a transmission capacity of 2000MW between Israel and Europe, is recovering after crashing his paraglider in Cyprus in early August. Ktorides had suffered multiple fractures on August 5 when his paraglider got caught in unexpected crosswinds and fell

An earthquake measuring 5.5 on the Richter scale was recorded very near Turkey’s popular holiday resort of Antalya at midnight Thursday and was felt as far away as Cyprus and the Greek island of Rhodes. Earthquake monitoring sites said it was a “scary earthquake for tourists” followed by aftershocks during the nightly hours. Most of

The Shacolas Group of companies, the island’s leading retail consortium, said that first-half profits at its five main subsidiaries totalled €53.3 mln, paying €32.7 mln in dividends so far this year and reducing its debt levels by nearly €95 mln. A Group announcement added that significant gains of €175mln were also recorded from the disposal

PwC Cyprus has taken 70 young university graduates who will join the firm’s training programmes to qualify as chartered accountants. PwC Cyprus CEO Evgenios Evgeniou and Philippos Soseilos, Head of Human Capital, welcomed the graduates during an event in which they had the opportunity to learn more about the organisation and their training programme. Evgeniou

The number of applications submitted to the Department of the Registrar of Companies and Official Receiver for company registration increased for the sixth consecutive month, in August 2014. However it remained at lower levels than those before the deposits' haircut in Cyprus, in March 2013. According to the Department`s statistics, the number of applications for

Cyprus parliament postponed for tomorrow (Saturday) the scheduled for Friday plenary session for the approval of a foreclosures bill, which is a precondition for the disbursal of the next tranche of the €10 billion bailout by Cyprus international lenders. At the same time the controversy between the Government and the opposition parties grows, with unknown

President-elect Jean-Claude Juncker may still be interviewing candidates for Commissioners, but the EU news and policy site EurActiv has seen a draft organigram http://png.euractiv.com/files/commissioners_092014-en-v4.png in which every single commissioner is assigned a portfolio. Juncker is currently wrapping up a series of face-to face interviews with the 27 Commissioners-designate and is expected to announce his line

Nine airline companies and investment funds have submitted non-binding business plans to take over the government’s 94% stake in ailing Cyprus Airways (CAIR), burdened with high costs, a shrinking network and dropping passenger numbers. Communications Minister Marios Demetriades confirmed on Thursday that nine companies responded to the procedure initiated by his Ministry, from the 15