The European Union is a strong believer and supporter of the Eastern Mediterranean’s energy prospects, a senior official told a conference in Nicosia recently.

Hellenic Bank has signed a share-purchase agreement with MetLife Services Cyprus for the acquisition of its 27.5% participation in the share capital of Hellenic Alico Life Insurance giving it a 100% control.

As borrowing has become cheaper, Finance Minister Harris Georgiades said a process has been launched for the early and full repayment of an IMF loan after settling a €2.5b loan from Russia before time.

Irish Distillers, producer of the world’s most well-known and successful Irish whiskeys, has unveiled Jameson Caskmates IPA Edition in Cyprus, a new extension to the innovative Caskmates range of whiskeys finished in beer-seasoned barrels.

In the CASE STOCKMAN INTERHOLD –V- ARRICANO TRADING LTD & OTHERS the District Court of Limassol held inter alia (following and adopting English case law) that an international arbitral award may be recognized and enforced, either by the summary procedure stated in the New York Convention, or at common law, by filing of an action on the basis of the arbitral award.

Cyprus’ Economic Sentiment Indicator declined by 2.9 points in October 2019 from the September due to confidence deterioration in most sectors, the University of Cyprus Economic Research Centre (ERC) said.

Total deposits in Cyprus banks recorded a net increase of €304.1m in September 2019 compared with a net decrease of €61.4m in August.

The government will soon be applying enhanced due diligence checks on foreign nationals who apply for Cypriot passports via the citizenship-by-investment scheme, while at the same time it will comb through past naturalisations to ensure they comply with up-to-date eligibility requirements.

Energy Minister Yiorgos Lakkotrypis said recently that Turkey’s claims on Cyprus’ exclusive economic zone (EEZ) do not benefit Turkish Cypriots or Greek Cypriots.

The Cyprus Stock Exchange wants to shed its negative image by improving its game to support the economy ‘the way it should be doing’ with privatisation and creating new markets.