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1111. Shipping Deputy Minister calls for action to maintain competitiveness of European Shipping

Cyprus' Shipping Deputy Minister Natasa Pilides underlined "the need to maintain the competitiveness of European Shipping," during the debate on trade and competitiveness at a conference held within the framework of the European Maritime Week, in Brussels....

1112. New Life in Cyprus of Russian Businessman after unfair seizure of Promsvyazbank

In 2017 Dmitry Ananiev was at the peak of his success. He and his brother Alexei owned a bank, an IT firm and an office complex overlooking the Moscow River. ...

1113. Opposition builds against planned quarry zone as thousands of trees may be axed

Intense reaction has been building up in recent days in opposition to plans to create a gravel quarry in the Delikipos forest, an extensive green patch in the Larnaca district, part of the network of Natura 2000 nature protection areas....

1114. Cyprus Econ Council begins work on future sustainable growth blueprint

The Cyprus Economy and Competitiveness Council (CECC) has announced the start of a project aiming to draft a blueprint on Cyprus’ future long term sustainable economic growth....

1115. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

1116. Greek-US ties and the East Med

By Lieutenant General Thomas Trask On the occasion of his meeting last month with President Donald Trump in Washington, Prime Minister Kyriakos Mitsotakis remarked how the US-Greece relationship “is the best it ever was. But it can become even better.”...

1117. Banks must find new profitable products, CBC Governor says

The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....

1118. Limassol’s trade enabler gets new CEO

The appointment of a new CEO at DP World Limassol is expected to give the company a new impetus, after a year of investing and upgrading infrastructure and equipment...

1119. Turkish clothes makers see orders shifting from coronavirus-hit China

Several fashion retailers that manufacture clothing in coronavirus-hit China are in talks with Turkish firms about shifting production to Turkey, two sector officials told Reuters, with one predicting new orders worth up to $2 billion....

1120. PRIO: A Cyprus solution could reap high economic benefits

A solution to the Cyprus problem will create large new markets, research conducted by the independent, bicommunal research centre PRIO showed....

1121. Sustainable Growth Review for 2019

PwC’s corporate responsibility programme focuses on promoting youth entrepreneurship, supporting vulnerable social groups, protecting the environment, promoting employee wellbeing and upskilling...

1122. In Paris visit, Greek, French ministers agree to boost investments

Finance Minister Christos Staikouras, Development and Investments Minister Adonis Georgiadis and French Minister of Economy and Finance Bruno Le Maire, signed a declaration of intent on the Greek-French economic partnership in Paris on Wednesday, aimed at boosting investments....

1123. Shift in global funding led by private capital

Private equity firms now manage commitments of nearly US$3.4t globally, up from less than US$500b in 2000, and in a significant shift new capital from private markets has surpassed for capital raised in public markets for the first time ever...

1124. Insurers need profound transformation and the right talent

As insurance industry growth remains stagnant for another year due to low interest rates, the shifts in consumer demographics around the world coupled with heightened expectations for digital experiences present insurers with risks and opportunities...

1125. 2020 year of ‘slowbalisation’

Global economic growth in 2020 is expected to grow at a rate of around 3.4% in purchasing power parity terms,according to new projections by PwC, compared to its long-term average of a 21st century average of 3.8% per year...

1126. Businesses must address digital fatigue and consumer privacy

1127. President lauds outgoing finance minister

President Nicos Anastasiades thanked outgoing Finance Minister Harris Georgiades for the work he has done in steering the economy “out of deep crisis towards growth" ...

1128. Cyprus tops the list of EU member states concerning absorption of EU Regional Development funds

Cyprus’ absorption capacity of EU Regional Development exceeded the EU average, Government Spokesman Prodromos Prodromou has said....

1129. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....

1130. Cypriot FM bets on economic diplomacy

Economic diplomacy is indispensable, Minister of Foreign Affairs Nikos Christodoulides said on Wednesday, adding the Foreign Ministry has elevated economic diplomacy to one of its top priorities...

1131. Cypriot president reiterates energy goals

President Nicos Anastasiades stressed that the Republic of Cyprus is determined to proceed unhindered with its energy plans and to make good use of the gas reserves that have been discovered, as a source of regional economic cooperation, growth and prosperity...

1132. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

1133. Brexit deal faces Saturday showdown

European Union leaders unanimously backed a new Brexit deal with Britain on Thursday, leaving Prime Minister Boris Johnson facing a battle to secure the UK parliament’s backing for the agreement if he is to take Britain out of Europe on October 31...

1134. Pompeo opts for diplomacy over Cyprus EEZ

The new defense deal signed between Athens and Washington will contribute to Greece’s security, US Secretary of State Mike Pompeo told Kathimerini in a recent interview, while staying firm on diplomatic efforts regarding Cyprus' EEZ...

1135. Government to introduce Green Tax Reform by 2021

Minister of Finance Harris Georgiades said on Thursday that the government would introduce in 2021 a “Green Tax Reform”. Georgiades was speaking to the press on the sidelines of the 20th Global Conference on Environmental Taxation which took place in Limassol...

1136. 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?...

1137. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

1138. 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...

1139. Moody’s expects deleveraging to resume but warns over small economy and high level of debt

The credit profile of Cyprus reflects its small but wealthy economy, improved economic resilience and the government`s fiscal outperformance in the wake of the country`s banking crisis, Moody's Investors Service has said in an annual report. ...

1140. 1st Energy Ministerial Meeting: Full support for Cyprus' and Greece's stance on regional energy issues

Full support for Cyprus' and Greece's stance on regional energy issues and for the expansion of security and environmental co-operation is the outcome of the 1st Energy Ministerial Meeting, held in Athens on Wednesday, and participated by Greece, Cyprus, Israel and the United States...