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20/06/2018
If you have noticed the increase in gas prices in Cyprus, you must be wondering why this is happening. This is a reaction to the change in the management of resources, switching from the hands of the state and into the hands of the private sector.On May 1st, 2004, with the acception of Cyprus into the European Union, many products including petroleum products were moved from the management of the state to the hands of the private sector.In turn...
08/06/2018
On the 29th of May, the Secretary-General of the International Maritime Organisation (IMO), Kitack Lim, addressed the Cyprus Shipping Chamber (CSC) at the Annual General Meeting in Limassol. Lim stated that despite Cyprus being a small nation in size, it is a strong and influential nation when it comes to maritime.In recent events, Cyprus has been negotiating a deal with international corporations and powerful nations regarding the gas...
06/06/2018
The economy of Cyprus suffered a heavy fall in 2013. Following the crash there was a surge of innovation and investments in local businesses. A survey conducted by the EIB (European Investment Bank) highlighted changes in Investment and Investment Finance for Cyprus in 2017.The survey displayed that uncertainty, energy costs, regulation, and the lack of skills impede the potential for further investment in Cypriot businesses. But firms based in...
25/05/2018
Approximately every year, the European Commission (EC) releases country specific recommendations (CSR’s) which lay-out economic guidance policies for the next 12-18 months. This week, the European Commission deemed that there are 8 countries with imbalances, and 3 countries with extreme imbalances.Among the three countries with extreme imbalances, Cyprus is one of them, along with Croatia and Italy. Cyprus had replied through the national...
18/05/2018
In 2013, the banks in Cyprus had overleveraged local property companies which had led to the great decrease of the Cypriot government’s bond credit rating. The response to this financial crisis came from the financial ministry asking for a financial bailout from the European Central Bank, the European Commission, and the International Monetary Fund.Consequently, Cyprus agreed to shut down it’s second largest commercial bank - Laiki...

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