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3031. K.Treppides & Co Ltd: Time Value of Money

What if a close friend asks today to borrow 1,000EUR with the precondition to repay the exact same amount in five years? Would you take the deal or not?...

3032. Cyprus and North Macedonia closer together

The establishment and development of bilateral relations between the Republic of Cyprus and the Republic of North Macedonia were the focus of a meeting which the President of Cyprus, Nicos Anastasiades, had on Tuesday, in New York with the Prime Minister of North Macedonia Zoran Zaev, on the sidelines of the UN General Assembly session. ...

3033. How will digital shape your future?

As technology evolves to support more and more of our everyday lives, it’s natural to wonder what’s in store for the future. How will it affect your life and career?...

3034. Thomas Cook crash is dry run for Brexit failures

Social historians will mourn the demise of the world’s oldest travel company, founded by a Baptist carpenter in northern England in 1841; their corporate counterparts will not. With more than 500 high street outlets, Thomas Cook demonstrated a stunning inability to adapt to changing travel habits. The rise of budget airlines and disruptors like Airbnb combined with the weak pound and the unusually hot summer of 2018 to kill off the company which had suffered a near-death experience in 2011. ...

3035. Cyprus hotels to take a €60 million hit as thousands stranded by Thomas Cook collapse

Officials at the Deputy Ministry of Tourism are scrambling to ascertain the impact of the collapse of Thomas Cook on the Cypriot hotel industry. ...

3036. Thomas Cook goes bust

The world’s oldest travel firm Thomas Cook collapsed on Monday, leaving hundreds of thousands of holidaymakers stranded around the world including Cyprus ...

3037. Britain's Thomas Cook scrambles for £200 million to avert collapse

Britain’s Thomas Cook needs to find an extra 200 million pounds to satisfy its lenders or one of the world’s oldest holiday company risks collapse, potentially stranding thousands of holidaymakers across Europe. ...

3038. Rights of Cypriot nationals secured after Brexit

The visit by the Secretary of State for Brexit Stephen Barclay to Cyprus on Wednesday is part of the UK Government’s engagement with EU member states “as the UK seeks to reach a deal with the backstop removed,” a DExEU spokesperson told the Cyprus News Agency in London...

3039. 'Get ready for Brexit' launches in Cyprus

The UK Government launched on Monday a major information campaign urging UK nationals living in Cyprus to get ready for Brexit on 31 October...

3040. The next six months are crucial

Since July’s general election, there has been a sense of optimism regarding the country’s course, especially in business circles, inside and outside of Greece. As we learn in the first lessons in economics, climate is everything. At the moment, we have a winning combination of trust and euphoria...

3041. Cavusoglu enters Varosha

Disregarding Security Council resolutions for the 45-year-old fenced off part of Famagusta, Varosha, Turkish Foreign Minister Mevlut Cavusoglu became the highest-ranking Turkish government official to enter Famagusta since the town was captured on the 14th of August 1974...

3042. Speaker Bercow, champion of Britain's parliament in clash with Johnson, bows out

House of Commons Speaker John Bercow, champion of Britain’s parliament in its move to rein in Prime Minister Boris Johnson over Brexit, said on Monday he would stand down, issuing a warning to the government not to “degrade” parliament. ...

3043. Johnson again bids for snap poll as Brexit delay bill to become law

British Prime Minister Boris Johnson will try for a second time on Monday to call a snap election, but is set to be thwarted once more by opposition lawmakers who want to ensure he cannot take Britain out of the European Union without a divorce agreement. With no majority in parliament, which is determined to prevent what many businesses fear would be a calamitous way to quit the EU, Johnson wants to hold an election to keep his promise of leaving by Oct. 31, with or without an agreement. ...

3044. Johnson's brother quits parliament, torn between family loyalty and national interest

British Prime Minister Boris Johnson’s younger brother, Jo, has resigned as a junior minister and said he would also step down as a lawmaker, citing a conflict between family loyalty and the national interest...

3045. German giant acquires Foody

Cypriot startup Foody has been acquired by a German food delivery giant in a friendly takeover reaching dozens of countries all over the world...

3046. More US energy companies to operate in Cyprus, US Ambassador says

US Ambassador to Cyprus Judith Garber expressed on Wednesday evening her conviction that more US energy companies will operate in Cyprus, joining ExxonMobil and Noble Energy. She was addressing a business dinner of the American Chamber of Commerce in Cyprus, in Nicosia, in the presence of Foreign Minister Nikos Christodoulides...

3047. Brexit no-deal preparedness: Final Commission call to all EU citizens and businesses

With 8 weeks to go until the United Kingdom's withdrawal from the European Union on 31 October 2019, the Commission has today – in its 6th Brexit preparedness Communication – reiterated its call on all stakeholders in the EU27 to prepare for a ‘no-deal' scenario. In light of the continued uncertainty in the United Kingdom regarding the ratification of the Withdrawal Agreement – as agreed with the UK government in November 2018 – and the overall domestic political situation, a ‘no-deal' scenario on 1 November 2019, remains a possible, although undesirable, outcome...

3048. Johnson demands October 15 election after defeat over Brexit

British Prime Minister Boris Johnson on Wednesday demanded an Oct. 15 snap election after lawmakers seeking to prevent a no-deal Brexit dealt him a humiliating defeat in parliament which he cast as an attempt to surrender to the European Union...

3049. South arrests murder suspect wanted north

The alleged mastermind behind the murder of a Turkish Cypriot businessman in the north was reportedly injured in the south while trying to evade arrest by Greek Cypriot police...

3050. South hands over another suspect to north

Another murder suspect wanted in the north in the murder of a Nicosia businessman has been handed over to Turkish Cypriot authorities, as anti-crime cooperation between the two communities continues...

3051. Online madam in north jailed in the UK

A British woman who was arrested in the north last year for abusing children in an online porn business, has been sentenced to twelve years and four months in the UK...

3052. Waters’ summer mission reaches Cyprus

California Congresswoman Maxine Waters is on summer recess trip to Europe with a US special delegation on a mission meeting with officials in Switzerland and Cyprus...

3053. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...

3054. Rhetoric cranked up over Laundromat story

The Presidential Palace is fighting back against criticism over claims that President Anastasiades’ law firm was involved in a network of shell companies that laundered billions out of Russia...

3055. Tourism staggers but officials still hope

Deputy Minister for Tourism Savvas Perdios says 2019 is a difficult year for tourism but there is no need for panic as positive developments may be expected in the coming weeks...

3056. South hands over murder suspect to north

Another murder suspect is in police custody in the north in connection with the murder of a Turkish Cypriot businessman, after Greek Cypriot police handed Azmad Ali Virk over to UN officials...

3057. EY: The sale of the three subsidiaries of Cyprus Popular Bank has been completed

3058. British Airways flights disrupted by IT failures

Problems with British Airways’ IT systems left thousands of passengers facing flight cancellations, delays and long queues at airports in the airline’s third major computer failure in a little more than two years. ...

3059. Business leaders reject proposal for corporate tax rate increase

We will not proceed with the increase in the corporate tax rate said Finance Minister Haris Georgiades, shortly after business leaders rejected his proposal ...

3060. Government in talks with businesses to raise corporate tax rate

Finance Minister Haris Georgiades confirmed reports that the government plans to increase the corporate tax rate from 12.5% to 15%...