Hellas Direct, a Cyprus-based online insurance company, is pleased to announce that Portag3 Ventures ('Portag3') has increased its equity stake in the company.

According to a recent article published by the Cyprus News Agency (CNA) in regards to Cyprus Natural Gas, Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla, told CNA that the intergovernmental agreement between Cyprus and Egypt for the “Aphrodite” gas field resulted to great interest from International Oil Companies, down streamers and financial institutions.

The growing appeal of Cyprus as a shipping hub is apparent when one looks at the numbers.

Minister of Foreign Affairs Nikos Christodoulides recently sent a letter to Secretary of State for Foreign and Commonwealth Affairs of the UK, in response to Jeremy Hunt’s letter regarding the issue of citizens’ rights after Brexit.

Although the UK and America remain popular destinations for Cyprus students, Holland is becoming increasingly attractive as many courses are offered in English.

The citizenship-by-investment scheme’s contribution to economic growth in the past three years was just 1.2% of 13 percentage points, Finance Minister Harris Georgiades said recently, as the cabinet tightened procedures for applicants to the programme, which has been criticised by the EU as lacking transparency.

Non-performing exposures (NPEs) in Cyprus banks recorded an increase of €87 million in October 2018 compared with September 2018, despite the fact that they remained unchanged as a ratio to total loans.

The share of energy from renewable sources (expressed in per cent of gross final energy consumption) reached 9.9% in 2017 in Cyprus, according to Eurostat.

The EastMed pipeline could be “one of the greatest underwater projects in the world”, Israel’s President Reuven Rivlin said recently.

According to the ninth annual global bank risk management survey, Accelerating digital transformation: four imperatives for risk management, it is clear that as technology and ongoing competitive disruption force banks to reinvent themselves, the risk management function must undergo a revolution in risk management professionals balancing their roles and operating models.