Zambartas Wineries is proud to see their wines gaining international recognition, as the highly esteemed Decanter World Wine Awards (DWWA) has just judged four of its wines to be among the top of the international competition, with two silver and two bronze medals awarded to the Cypriot boutique winery. The esteemed annual awards, which took
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President Nicos Anastasiades has said that his administration would launch an attack on bureaucracy. “The encouragement of business activities in specialized markets in the services sectors is of paramount importance for our economy” the President said, addressing the inaugural event of the Cyprus Investment Funds Association (CIFA), hosted at the Presidential Palace, on Monday. He
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The Board of Directors of the European Stability Mechanism (ESM) approved Monday the disbursement of €600 million to Cyprus. This follows the positive assessment of the fourth quarterly review of Cyprus’s macroeconomic adjustment programme and approval of the supplemental Memorandum of Understanding (MoU) with Cyprus by the ESM Board of Governors. “Cyprus continues to make
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Emirates, will serve Mauritius with a double daily A380 service from 1st December this year. This second A380, which will operate as flight EK 703/704, replaces the existing Boeing 777 operation and increases Emirates' capacity on the route by 19%, further meeting the demand on the route and demonstrating the growth of Mauritius as a
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Relations between the Greek and Cypriot government are more than excellent, with both sides cooperating on a daily basis, President of Cyprus Nicos Anastasiades underlined on Monday. Speaking at the Presidential Palace, after returning from UN-led talks for a Cyprus solution, the President said that a false idea has been created lately regarding a putative
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The Bank of Cyprus is expected to embark on a road-show to attract new investors and fresh funds from exiting investors, an exercise that is expected to raise about €1 bln from the markets and boost the lender’s capital adequacy levels by at least four percentage points. This means that the bank’s Core Tier 1
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The United States support Cyprus’ sovereign rights to extract and exploit its natural wealth in its Exclusive Economic Zone, Minister of Energy Giorgos Lakkotrypis has said. Lakkotrypis was invited to comment on an interview by US Deputy Assistant Secretary Amos Hochstein, one of the State Department’s senior officials responsible for energy, who said in an
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Upgrading of two Cypriot banks by Fitch rating agency on Friday is a “positive and important development” in the course of stabilising the economy, Finance Minister Harris Georgides said, adding that decisive steps must be taken to ease the problem of non-performing loans in the banking system. Fitch upgraded Bank of Cyprus Long-term Issuer Default
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Fitch has upgraded the ratings of the Bank of Cyprus and Hellenic Bank, after the government lifted its final local capital controls, but warned that the island’s biggest lender still faces a high risk of capital erosion because of weakening asset quality and profitability. On Friday, Fitch ratings agency upgraded the Bank of Cyprus (BOCY)
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The Bank of Cyprus, the island’s largest lender that was forced last year to seize depositors funds and take over another bank, will be seeking new investors to beef up its capital base by about €1 bln in time for an EU-wide banking sector stress test in Autumn. The bank’s board, headed by chairman Christis
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