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421. Commission signs vaccine contract with Sanofi-GSK

A contract between the European Commission and pharmaceutical company Sanofi-GSK came into force on Friday, allowing for EU member states to purchase up to 300 million doses of the vaccine being developed....

422. US urges everyone to stand down in East Med

The United States is urging “everyone to stand down” in ongoing disputes about drilling and maritime rights in the East Mediterranean, Secretary of State Mike Pompeo said on Wednesday...

423. Energy company proposes installation of an FRSU in Cyprus

Oslo-based company Hoegh LNG confirmed Friday it has submitted a proposal for the installation of a Floating Storage Regasification Unit (FRSU) in Cyprus and has sent letters to top government officials outlining its benefits....

424. New decree allows repatriation of all legal residents

By Thursday, a sum of 9,282 students abroad who chose to remain put amid the coronavirus outbreak had received a €750 government benefit, as promised last month....

425. Corporate Social Responsibility and Corporates’ response to COVID19

The long-term debate over CSR is concerned with whose interests should be attended to, shareholders or stakeholders, and this is actually the debate of the two competing theories over the purpose of the modern business firm...

426. State suspends foreclosures for 3 months, requests 10% reduction in electricity fees

The government on Wednesday agreed to request from the Cyprus energy regulatory authority a 10% cut on electricity usage charges for a period of three months, in view of providing some breathing space as the island traverses the Covid-19 health crisis....

427. Cyprus Shipping Chamber backs EU Shipping Industry positions on EU Green Deal

The Cyprus Shipping Chamber expressed its fully supports the EU Shipping Industry’s positions on the EU Green Deal, noting that the shipping industry is fully committed to eradicating its GHG emissions completely as soon as possible in this century. ...

428. British High Commissioner talks trade, free movement after Brexit

In an interview with the Cyprus News Agency, British High Commissioner in Cyprus, Stephen Lillie, talks about what tomorrow will look like, and what applies for Cypriot and British nationals living in both countries, which he said share a deep historical relationship....

429. 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...

430. EU tells UK it will 'never, never, never' compromise on single market

The European Union will “never, never, never” compromise on the integrity of its single market, its chief Brexit negotiator warned Britain on Monday, saying London must now face reality after underestimating the costs of leaving....

431. How Russian uncapitalism works

Like a private equity firm enacting an acquisition-led ‘roll-up’ in a fragmented sector, Putin and Co in Russian have been busy in recent years quietly taking scores of small banks into state ownership...

432. Digital transformation of health services is indispensable

433. US arms embargo to be lifted on conditions

President Donald Trump will have discretion over a current US arms embargo imposed on Cyprus, as both Senate and House conferees have reached an agreement on the defence budget for next year...

434. Central warns banks ‘not to overdo it’

The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...

435. Minister determined to fight ‘green line abuse'

The Cypriot government is cautiously moving forward with plans to reduce illegal migration to Cyprus through the north, including checkpoint stations and surveillance of remote areas along the Green Line...

436. MAP S.Platis joins forces with global firm FTI Consulting

437. Anti-Money Laundering and Terrorist Financing Preventing Framework: Legislation Gaps

Over the last years, the EU has developed a solid regulatory framework for preventing money laundering and terrorist financing. However, these rules are not always able to capture the growing technological developments and potential gaps that can be exploited by criminals...

438. Financial Services towards Artificial Intelligence and Machine Learning

Artificial Intelligence in general and machine learning in particular, is not a new concept, but it is only in recent years that financial services firms have started to learn about and understand its full potential...

439. Maritime Cyprus kicks off in Limassol

Maritime Cyprus 2019 Conference kicks off Monday in Limassol with the participation of more than 800 shipping executives from around the globe...

440. Hellenic Bank posts profit of €59.1 million in first half of 2019

The Hellenic Bank has announced that it has posted a profit of €59.1 million after tax in the first half of this year with CEO Yiannis Matsis noting that the results reflect part from the benefits from the acquisition of the operations of former Cyprus Cooperative Bank. ...

441. Finance minister pleased with Waters’ visit

Finance Minister Harris Georgiades says a visit by a US delegation affirms that Cyprus is on the right track in combating money laundering, following a statement by California Congresswoman Maxine Waters who said “Cyprus is up to the challenge....

442. Ayia Napa rape accuser free on bail

The British young woman accused of making false statements in a rape complaint in Ayia Napa will be free on bail this week, while her legal team is expected to include high-powered British attorneys...

443. Trump hits China with more tariffs, sharply escalating trade dispute

U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply escalating a bruising trade war between the world’s largest economies and jolting financial markets. ...

444. Cyprus aims to be among the first to regulate blockchain technology

Distributed Ledger Technology (DLT) and more specifically, Blockchain, can offer endless possibilities in many different fields, according to speakers addressing the Cyprus Blockchain Summit, on Wednesday, in Nicosia. Finance Minister Harris Georgiades said that Cyprus aim to be among the first countries to regulate aspects of DLT. The creation of the regulatory framework should be flexible, so that it will promote innovation and provide legal certainty and protection for both consumers and investors, House President Demetris Syllouris noted from his part...

445. Cyprus should not be on the list of countries not getting US arms

In 1987, the US Department of State placed the Republic of Cyprus on a list of countries to which sales and transfers of defense articles and services is prohibited under the International Trade in Arms Regulations (ITAR). ...

446. EY Cyprus announces four new Partners

EY Cyprus announces the appointment of four new Partners. Nicolas Pavlou, Katerina Mina, Sakis Moyseos and Panayiotis Thrasyvoulou, who are expected to take up their new role as of 1 July 2019...

447. Amendments to Menendez Rubio bill 'unfortunate'

President Nicos Anastasiades described on Thursday the amendments made to the bipartisan legislation of Robert Menendez and Senator Rubio on an updated United States strategy in the Eastern Mediterranean as ''unfortunate'' ...

448. US bill calls for end to Russian military vessels refueling in Cyprus

The Eastern Mediterranean Security and Energy Partnership Act of 2019 would allow the U.S. to fully support the trilateral partnership of Israel, Greece, and Cyprus through energy and defense cooperation initiatives...

449. Facebook to launch cryptocurrency called Libra

450. Eurobank Cyprus selects TEMENOS for its digital transformation