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211. Reduction of electricity costs a priority, says new Energy Minister

One of the first priorities of the new administration will be to reduce the cost of electricity, in order to help the industry and the economy reach the potential “they deserve”, new Minister of Energy, Commerce and Industry Giorgos Papanastasiou said on Wednesday....

212. The protocol for Wednesday's 'changing of the guard'

The 'changing of the guard' or in plain terms, the new President's term is scheduled to begin on March 1st when the confirmation ceremony of Nikos Christodoulides' hand-picked ministers will occur at the event hall of the presidential palace at 10 am, after which, the first cabinet meeting will take place....

213. Bank of Cyprus: 71 million in profits in 2022

Bank of Cyprus' profit for 2022 was 71 million euros, up from 30 million euros in 2021....

214. Cyprus seeks understanding on shipping woes

Cyprus is speaking to other European Union member states to shore up support for the shipping industry hit by sanctions on Russia, its shipping minister said on Friday...

215. The new Limassol-Piraeus schedule will be available soon

The new schedule for the Cyprus-Greece sea link is expected to be announced within the next week, or by early March at the latest. As "K" has been informed, ...

216. Marina Association 'surprised' by statement on Paphos marina

The development of Paphos Marina is moving forward, thanks to a Cabinet decision. This has been an issue for decades, and when the Deputy Minister of Tourism took office, he re-launched an effort to promote the project by preparing a feasibility study for its construction....

217. The new president and finance minister will face new challenges

We are only a few days away from voting for the new President of the Republic. ...

218. Royal Caribbean opens an office in Cyprus.

Royal Caribbean Group, a giant in the cruise sector, has announced the opening of an office in Cyprus within the first half of 2023. ...

219. Cavusoglu travels to US amid troubled ties

Turkey and the United States will aim to smooth out a series of disagreements between the NATO allies when the Turkish foreign minister visits Washington this week. But expectations that outstanding issues can be resolved are low....

220. Frontline’s Cyprus move fails to impress rival

Plans by a shipping tycoon to redomicile his company to Cyprus became unclear after Frontline announced a merger with a rival oil tanker operator fell through...

221. The fierce battle for second place

222. UK pledges support in Cyprus maritime sector

British High Commissioner to Cyprus, Irfan Siddiq expressed his country’s readiness to deepen its cooperation with Cyprus in the maritime and marine sectors. ...

223. Shipping tycoon wants to transfer biz to Cyprus

A Norwegian-born Cypriot billionaire wants to move his shipping company to Cyprus to reap benefits, including an EU-approved tonnage tax regime available only to tax residents of the island, which is scrambling to keep its industry afloat amid sanctions against Russia...

224. G7 price cap on Russian oil kicks in

The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production....

225. €76.4m profit in first 9 months of 2022 for Hellenic

Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...

226. EU struggles with Russian oil price cap

European Union governments remained split on Thursday over what level to cap Russian oil prices at to curb Moscow’s ability to pay for its war in Ukraine without causing a global oil supply shock, with more talks possible on Friday if positions converge...

227. Apple supplier apologizes, offers $1400 payout to quell protests

Apple’s manufacturing partner Foxconn has offered payouts of Rmb10,000 ($1,400) to newly recruited staff who elect to leave the iPhone factory and vowed to honour pay agreements, in an attempt to quell unrest after workers violently clashed with police....

228. Cypriot registered ships decrease by 21% due to sanctions

A large number of tankers that previously sailed under European Union flags, such as Cyprus and Malta’s, are leaving those registers as a result of the sanctions on Russian oil transportation....

229. 'Double tax' treaty talks to begin between Cyprus and Australia

Cyprus Finance Ministry has expressed satisfaction with the positive reaction of Australian authorities to initiate bilateral negotiations for the conclusion of the Convention for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance....

230. Nicosia municipalities to fund adoptions from animal shelter

Undoubtedly, the need for accommodation at the animal shelter, with which Nicosia's six municipalities (Nicosia, Strovolos, Lakatamia, Engomi, Agios Dometios, and Aglantzia) collaborate, has grown in recent years....

231. EY holds Cyprus Attractiveness Forum: Investment Realized, a reference point for FDI in Cyprus

The Cyprus Attractiveness Forum: Investment Realized, organized by EY in collaboration with the Cyprus Chamber of Commerce and Industry, took place on Tuesday, October 25th at the Parklane Hotel, in Limassol. ...

232. New RORO service between Greece and Cyprus

A new roll-on/roll-off (Ro-Ro) service linking Greece with Cyprus was inaugurated on October 1, the Lavrio Port Authority said on Thursday....

233. Cyprus's first step toward rail and tram transportation

On the occasion of her visit to the island for the Cyprus Maritime Cyprus 2022 conference, European Commissioner for Transport, Adina Valean, raised for the first time the issue of the creation of a railway in Cyprus and the prospects of co-financing it....

234. One-Stop-Shop for shipping companies in Cyprus

The plenary of the House of Representatives unanimously passed a law on Thursday that provides for the establishment of a one-stop-shop framework for shipping companies....

235. Suspicion over Turkish fishing boats in migrant drownings

Hellenic Coast Guard officers have told Kathimerini they were investigating the role of Turkish fishing boats that were close to the location where a dinghy sunk late Wednesday and a confirmed 18 people drowned, the deadlier of the two incidents involving migrants....

236. 22 dead, dozens missing, after 2 migrant ships sink

Bodies floated amid splintered wreckage in the wind-tossed waters off a Greek island Thursday as the death toll from the separate sinkings of two migrant boats rose to 22, with many still missing....

237. Limassol gets ready for 'Maritime Cyprus 2022'

Limassol is set to host "Maritime Cyprus 2022", between October 9 and 12, with the participation of 900 delegates from 35 countries, Deputy Minister for Shipping Vassilis Demetriades said on Thursday....

238. Demetriades: Loss of fleet due to sanctions on Russia

According to Deputy Minister of Shipping Vassilis Demetriades, a number of ships have been removed from the Cypriot register as a result of Russian sanctions, resulting in the loss of a 700,000-tonne fleet. ...

239. House scrambles to keep ships under Cyprus flag

The House health committee in the Republic of Cyprus is scrambling to amend healthcare legislation in a race against the clock, following reports that ship owners are trying to take their business elsewhere to avoid having to pay GESY tax...

240. EU flip flops on Russian coal after Cyprus cries foul

The shipping industry in the Republic of Cyprus can breathe a sigh of relief after the European Commission eased sanctions against Russian coal, following objection from Nicosia that saw stricter guidelines as a direct blow to its competitive advantage...