. By Oren Laurent President, Banc De Binary Spending by Norway’s oil and gas companies is expected to reach $37.3 bln in 2014, according to last week’s statement by Statistics Norway. That’s seven percent higher than last year, but project costs are rising, and profitability and investment, although currently still high, are both showing signs
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The first Cyprus Pride Festival on the island will take place in Nicosia on Saturday, May 31st, it was announced here today at a press conference at the EU House, on the occasion of the International Day Against Homophobia and Transphobia, which is celebrated every year on the 17th of May. Cypriot EU Commissioner for
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The Cypriot Minister of Finance Harris Georgiades has been elected Chairman of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) for the period 2014-2015. “Honored and privileged to serve as Chairman of the Board of Governors of the EBRD for 2014-15” Georgiades wrote on Twitter. Earlier Georgiades wrote that EBRD
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European Commission Spokesman Simon O` Connor has said that data released on Thursday by Eurostat on GDP in Cyprus show that recession in Cyprus is easing much more quickly than expected in the latest forecast. According to the data released, GDP dropped in Cyprus by 0.7% during the first quarter of 2014 compared to the
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Cyprus recorded annual harmonised deflation in April, data released on Thursday by Eurostat show. According to the Eurostat data, inflation in Cyprus was negative but fell from -0.9% in March to -0.4% in April. Average annual harmonised inflation was recorded at 0.7% in the eurozone up by 0.2% since March. In the EU inflation in
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The European Bank for Reconstruction and Development (EBRD) has decided to commence operations in Cyprus, Finance Minister Harris Georgiades said in a message on his personal account on Twitter. The decision follows a formal request from the government made in February 2014.
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Cyprus Tourism Organisation (CTO) announced the introduction of a National “Cyprus Tourism Quality (CTQ) Label” Scheme. The Scheme aims towards rewarding the provision of Quality, by tourism related enterprises that adopt a series of set criteria and offer proven added value service, beyond any legal obligations such as those, for example, of a specific hotel
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A new company providing air traffic control services will be set up by 2015, breaking away from the Civil Aviation Department and the Ministry of Communications and Works, Minister Marios Demetriades said on Wednesday. This is part of a new process to privatise or outsource to the private sector many of the public utilities and
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MeritKapital announced its new engagement with DBS Hong Kong, a leading financial services group in Asia with over 250 branches across 15 markets. Headquartered in Singapore, it has a strong capital position as well as strong credit ratings (AA- and Aa1). This has earned DBS the nomination of ‘the Safest Bank in Asia’ by Global
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The Cyprus government has plans to develop Limassol port further, despite the semi-government organisation’s facilities slated for privatisation. Communications and Works Minister Marios Demetriades said during a routine visit to the port that “the plans are still at an early stage, but will have to be preceded by a feasibility study to see what investments
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