The Greek retail, industrial and distribution giant Sarantis announced it set up a wholly owned subsidiary in Portugal, where it already had a presence since 2009 through a sub-distributor with annual sales of EUR 800,000. The company said it aims to boost its revenues to EUR 4 mln a year and strengthen its presence in
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Judges imposing their countries’ maximum penalties for serious offences such as manipulating the LIBOR benchmark interest rate would have to stipulate at least four years in jail under draft rules approved by Parliament on Tuesday. These rules, which aim to restore confidence in the EU's financial markets and improve investor protection, now have to be
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New rules on music copyright approved by Parliament on Tuesday aim to make it easier for online providers to get licences to stream music in more than one EU country. The law, already informally agreed with Council, should stimulate the development of EU-wide online music services for consumers and ensure that artists' rights are better
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Citizens and firms moving to another EU country would face less red tape under a draft law passed by ΕU Parliament. But this law, which would simplify procedures for proving the authenticity of certain public documents such as birth or marriage certificates, still needs to be approved by EU member states. The law, which lays
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Cyprus recorded a small drop in registered unemployment measured on a seasonally adjusted basis in January, with unemployment falling to 48,939 persons from 49,643 in December. On a non-seasonally adjusted basis registered reached 52,783, a rise of 6,850 or 14.9% compared with January 2013. A large increase was recorded in financial and insurance activities, hit
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The MBA Program of the University of Cyprus, in line with its social contribution and commitment in creating visionary and influential leaders in the local, regional and international business community, has announced a number of scholarships for the academic year 2014-2015. The scholarships are intended for various institutions such as private organizations, government departments, the
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In an effort to enhance coordination with the network of commercial attaches serving in the Republic’s diplomatic missions abroad, the Cyprus Investment Promotion Agency (CIPA) organized online seminars (webinars) in cooperation with the Ministry of Energy, Commerce, Industry and Tourism. Commercial attaches of Cyprus in Beijing, London, Berlin, Dubai, Paris, Moscow, Vienna, Warsaw, Beirut, Tel
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Greek factory activity grew in January, a survey showed on Monday (3 January), marking its first expansion since the country's debt problems came to light in 2009 and plunged the eurozone into a crisis from which it is still recovering. It is the latest in a series of positive economic data which suggest Greece's six-year
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Cyprus political parties have begun preparations ahead of May’s European Parliament elections, with the ruling Democratic Rally party and the Socialist party announcing cooperation with other parties. The Political Bureau of the ruling right – wing party DISY (Democratic Party) decided today that one of its candidates for the European Parliament elections will be the
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The European Commission announced that it has opened an in-depth investigation to verify whether Cyprus` plans to support the restructuring of Cyprus Airways with €102 million are in line with EU state aid rules, noting that the Cypriot authorities have not provided yet an adequate justification to that end. The Commission will investigate in particular
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