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1711. 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?...

1712. 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 ...

1713. 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...

1714. 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. ...

1715. Cyprus to fully repay IMF loan in 2020

According to figures from the 2020 budget presented by Finance Minister Haris Georgiades to the Cabinet, Cyprus will repay the IMF loan early resulting in government debt reduction to 91.1% of GDP ...

1716. Anastasiades: Turkey’s aim for control scuppers peace

Turkey is undercutting efforts to quickly revive peace talks aimed at solving Cyprus’ decades-long ethnic split by imposing unacceptable terms, the island nation’s president said Tuesday...

1717. '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...

1718. Killer mom in psych ward as Geri holds funeral

Friends and relatives will bid farewell at the funeral of 12-year-old David, who was killed last month by his own mother in south Nicosia...

1719. Oil surges after attack on Saudi oil facilities

Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut over 5% of global supply. ...

1720. President launches Exandas portal in a bid to enhance transparency

The implementation of 767 development projects, with a total cost of more than 2.7 bln euros, as well as the progress in implementing 321 government policies, reforms and national strategies are outlined in “Exandas”, the new internet portal launched on Friday by Cyprus President Nicos Anastasiades. According to officials, 92.17% of the projects listed is expected to be completed by 2023. ...

1721. Adults in the theaters

The film has been dismissed outright and its director, Costa-Gavras, until recently hailed as one of Greece’s top filmmakers, is suddenly being accused by some of getting carried away. Why? ...

1722. 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...

1723. 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...

1724. 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...

1725. Cypriot fisherman saves turtle in trouble

A video showing a local man in Cyprus removing a plastic ring from a turtle’s neck is making the rounds on the internet...

1726. Escrow account the key to Cyprus EEZ

Kathimerini reports that President Anastasiades, in an effort to de-escalate tensions in the Cypriot exclusive economic, proposed the creation of an escrow account that would safeguard the Turkish Cypriot community's share from the natural gas proceeds...

1727. 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...

1728. Defence assembled in Ayia Napa rape case

The Ayia Napa rape accuser trial has been pushed back for another week as the British defendant seeks permission to have a British lawyer representing her case...

1729. Minister offers way out of turtle nesting debacle

Agriculture Minister Costas Kadis says he is ready to work with experts and communities in protecting sea turtle nesting areas in such a way that local residents could also benefit...

1730. Brussels piles on pressure over Greece-Cyprus-Israel electricity cable

Just when the Greek Energy Minister thought he could take a short August break, after a hectic first 30 days of the Mitsotakis administration, a stern warning from Brussels has exposed the wavering attitude that Athens has chosen by succumbing to pressure from the Chinese-controlled transmission system operator ADMIE over the Attica-Crete subsea electricity cable...

1731. Money pouring in for rape accuser’s defence

A fundraising project has raised over €22,000 in an effort to pay for legal fees for the British teen accused of making false statements to police in the Ayia Napa gang rape case...

1732. Authoritarian, divisive, hard right?

A few days ago, the New York Times published an opinion piece on political developments in Greece on its front page in which the author denounced the return to power of the “hard” right under the leadership of an “authoritarian” prime minister with “anti-democratic instincts.” ...

1733. Interview with Endy Zemenides

Ever since Joe Biden declared that Cyprus was a “strategic partner” of the United States, people have been trying to identify substance behind those words. There has been a similar search of what “best relations ever” between the U.S. and Greece means...

1734. EY: The sale of the three subsidiaries of Cyprus Popular Bank has been completed

1735. 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 ...

1736. Britain's LSE seals $27 billion Refinitiv deal to create data giant

London Stock Exchange has agreed to buy financial information business Refinitiv in a $27 billion deal, it said on Thursday, in a move to transform the British company into a market data and analytics giant. ...

1737. Halloumi exports reached 29 thousand tons in 2018

Halloumi exports reached 29,000 tons in 2018, acting permanent secretary of Agriculture Ministry Andreas Louca has said. ...

1738. Two new recycling and composting programmes in Limassol

Limassol Municipality is going ahead with the implementation of two new recycling and composting programmes aiming to properly manage waste by reducing, reusing and recycling it. ...

1739. Deadly mega-fires bring new challenge to Europe

The European Union describes wildfires as “a serious and increasing threat” across the continent....

1740. Firms including MOL, Osaka, Gaslog, chosen in Cyprus FSRU LNG tender

Three joint ventures have been selected by Cyprus in the first stage of a tender to provide a floating storage and regasification unit (FSRU) to import liquefied natural gas (LNG)...