A chain of decisions related to the restructuring of the nationalised Co-operative Credit Institutions (Co-ops), as expected from a roadmap in accordance with an international bailout, will start to be implemented from Monday, according to press reports. The official Cyprus News Agency said the process to fill the position of the head of the unit
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The Central Bank of Cyprus has issued its second warning in two months over risks related to virtual currencies, saying that the Bitcoin is not legal tender. “The CBC does not authorise any activity falling within its mandate unless legal compliance is ensured. Any activity without the required license is liable for breach of law,”
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British expats living around the world now have the option to support the UK economy from afar, and have British produce delivered to their doorsteps. In the last few years online supermarkets have begun offering expats a home delivery service for their favourite foods from the UK, but up until the last year this has
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The first in a series of 2014 presentations shedding light on start-up companies was given by professionals on Thursday February 6th to an audience of possible investors and members of the CYBAN group, a unique non-profit Business Angels network in Cyprus. During the presentations, which take place quarterly, all interested investors are given a first
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Cyprus Energy, Trade and Tourism Minister Georgos Lakkotrypis met with his Egyptian counterpart in Nicosia on Friday with whom he discussed cooperation in the oil and gas sectors, assistance on energy infrastructure projects and setting up a joint team to determine the boundaries of the maritime exclusive economic zone between the two countries. The joint
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The need to combat bureaucracy, simplify procedures and update the structures and practices in Cyprus are confirmed through the results of the World Bank’s “Doing Business Report 2014”, which was presented during an event by the Cyprus Investment Promotion Agency (CIPA). Cyprus is included in the specific Report for the fifth consecutive year, on the
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Despite the setbacks of the decisions of Eurogroup international shipping companies continue to support the Cypriot economy contributing around 7% of GDP, said Director General of the Cyprus Shipping Chamber, Thomas Kazakos. A delegation of the Chamber met Wednesday with technocrats of Troika, which was briefed on the situation in the shipping industry, in the
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The dependence of Cypriot banks on the Emergency Liquidity Assistance (ELA) in December 2013 recorded a further decrease by €224 million, with the amount dropping to €9.55 billion in the last month of 2013, according to figures published by the Central Bank of Cyprus (CBC) on Thursday. In November the dependence of Cypriot banks on
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* UNic accepts payment, ‘Bee’ card wallet soon * Love it or hate it, the age of the Bitcoin is upon us. Valued at $840 or 620 euros on the open market, it is gradually creeping into more services and establishments in Cyprus, while the authorities are still pondering whether to regulate the virtual currency
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Emirates is set to expand its presence in Africa’s most populous country Nigeria, with the start of a daily linked service to Abuja and Kano from 1 August 2014. The announcement follows Emirates’ recent milestone of 10 years of successful operations to Lagos, to which the airline flies twice daily. Abuja, located in the centre
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