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Cyprus News Agency: News in English, 13-10-16

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] Ministerial meeting on Cyprus Airways on Thursday
  • [02] Cabinet adopts changes regarding Hydrocarbons Company
  • [03] Cyprus' trade deficit shows significant reduction
  • [04] CIPA intensifies action to promote Cyprus' image

  • [01] Ministerial meeting on Cyprus Airways on Thursday

    A ministerial meeting, called by the President of the Republic, will be held on Thursday to examine issues related to the national air carrier, Cyprus Airways.

    The meeting will take place at the Ministry of Finance with the participation of the Finance Minister, the Communications Minister, the Minister of Labour and the Minister of Commerce.

    Cyprus Airways Board Chairman Tony Antoniou has told CNA that at tomorrow's meeting, the company will present actions taken so far for its restructuring and there will be a discussion on its future, "with the company demanding", as he said, from the Government to help Cyprus Airways, by engaging actively in issues related to investors, plan B and the implementation of the restructuring plan.

    [02] Cabinet adopts changes regarding Hydrocarbons Company

    The Council of Ministers which convened Wednesday decided to adopt changes regarding the name of Cyprus National Hydrocarbons Company (CNHC) and the Law on Hydrocarbons.

    According to an official press release, the Council of Ministers approved on Wednesday the renaming of CNHC to Cyprus Hydrocarbons Company Ltd (CHC) as well as the proposed regulations for the amendment of its Articles of Association.

    The Council was also informed by Energy Minister Yiorgos Lakkotrypis on the intention of his ministry to amend the 2007 Law on Hydrocarbons, with a view to appoint non-executive members of the CHC Board as well as to regulate the issue of the monitoring of the company by the General Auditor.

    [03] Cyprus' trade deficit shows significant reduction

    Cyprus' trade deficit recorded a significant reduction during the first seven months of 2013, as data released by Eurostat on Wednesday shows.

    Compared with the corresponding period of 2012, the deficit was reduced by 800 mn.

    According to the data, the total value of Cyprus' exports in the period January-July 2013 reached 900 mn, up 9% compared to the same period of 2012. Imports were reduced by 20% reaching a value of 2.7 bn euro from 3.4 bn euro in the same period last year.

    [04] CIPA intensifies action to promote Cyprus' image

    The Cyprus Investment Promotion Agency (CIPA) has intensified its targeted actions aimed at restoring Cyprus' image as a reliable destination for foreign investment. Towards that direction, CIPA's representatives have recently traveled to Britain, Ukraine and India.

    According to a press release issued by CIPA, the Director General Charis Papacharalampous has recently visited London, where he had a series of contacts. Among others, Papacharalampous gave an interview to Glude TV, which is preparing a promotional short film on real estate in Europe, including Cyprus, which will be broadcast in cinemas in Asia.

    Papacharalambous also met Andrew Frazer, former CEO of the Agency "Invest in Britain", and the President of the consulting firm FTI, who works with CIPA on issues related with the overall image of Cyprus abroad. He even had a meeting with the executives of the British Venture Capital Association, discussing a possible cooperation with the Association.


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