The town of Larnaca – on the southeastern coast of Cyprus – will be candidate for European Youth Capital 2018. This was decided during a meeting of Larnaca Municipal Council held on Monday. According to a press release, Larnaka Mayor Andreas Louroutsiatis said that the Municipality will seek cooperation with governmental, semi-governmental and private organizations

A team of elite US Navy SEALs stormed a ‘stateless’ oil tanker near the coast of Cyprus in the early hours of Monday and took control of its 32,000 tonnes of crude, returning the formerly North Korean-flagged vessel to Libya. The US forces, attached to Special Operations Command Europe, boarded the ‘Morning Glory’, allegedly hijacked

The market has started the week with inherent risk aversion primarily linked to the uncertainty around the Ukraine-Crimea crisis and the concerns that the West will impose heavy sanctions on Russia. With the weekend’s referendum condemned as illegal by the US and EU, the markets reflected their concerns regarding instability in the region with a

Hellenic Bank is going to list 858.7 mln shares on the Cyprus Stock Exchange on Wednesday as a result of the conversion of 85.87 mln convertible capital securities, changing the shareholding structure of the bank that recently attracted a 100 mln euro injection from strategic investors. The conversion of the CCS1 raises the bank’s share

British Airways have announced the resumption of their direct flights between Pafos International Airport and London Gatwick, giving both incoming and outgoing travellers a greater scope of convenient options for the summer season. The Pafos–Gatwick service operated by A319 will be available five times a week, on Mondays, Wednesdays, Fridays, Saturdays and Sundays. With the

Cyprus Minister of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis and Canadian Veterans Minister Julian Fantino discussed enhancing trade relations between the two countries during a meeting, in Nicosia, on Monday. In statements they made to the press after the meeting the two ministers said that they agreed to organise trade missions between the two

The annual inflation in Cyprus marked a small increase in February 2014, reaching -1.3% from -1.6% in January. According to Eurostat, the statistical office of the EU, Euro area annual inflation was 0.7% in February 2014, down from 0.8% in January. A year earlier the rate was 1.8%. Monthly inflation was 0.3% in February 2014.

Poland’s Wojciech Kopec and Cecilia Backman from Finland were the winners of the 8th International Limassol GSO marathon on Sunday, with a record 7,000 runners taking part in the event. Kopec won the IAAF and AIMS-approved race with a time of 2:17:27, followed by Tamás Nagy from Hungary (2:23:56) and local entry Jebel Ahmet Kazahoum