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19 January 2017
Cyprus' largest bank starts trading shares on London Stock Exchange
NICOSIA, Cyprus (AP) — Cyprus' largest bank says its shares have started trading on the London Stock Exchange.
Bank of Cyprus Holdings says more than 446,000,000 shares valued at 0.10 euros (11 cents) each have been admitted to the LSE's standard listing and began trading Thursday.
The bank said the listing will improve liquidity in its stock and attract more long-term investors while boosting stakeholder confidence.
The listing comes two weeks after the bank fully repaid 11.4 billion euros ($11.9 billion) of emergency cash it received from Cyprus' eurozone partners to stay afloat during a 2013 banking crisis.
Bank of Cyprus Group Chairman Josef Ackermann called the listing a milestone for the lender and its strategy to enhance its financial strength.
Paphos Mayor extends open invitation to all at his investiture today at 6pm at Pafos Town Hall
JANUARY 10TH, 2017 BEJAY BROWNECYPRUS
Paphos Mayor Phedonas Phedonos
The Mayor of Paphos is extending an open invitation to the public to attend the official investiture ceremony due to be held at the town hall on Wednesday.
Mayor Phedonas Phedonos was re-elected in December with 55.63 per cent of the vote. The mayor has gained a reputation for his no nonsense approach, commitment to eradicate corruption and promotion of transparency.
A municipality spokesman said that the mayor, along with members of the newly elected council 2017- 2021, would be present, as well as the Bishop of Paphos, who will perform a blessing.
“The mayor will speak about what will happen to the town in the next five years and the main challenges it will face. He will also talk about the cultural capital title, the success of which is a priority,” said the spokesman.
He stressed that all works will be completed in time and in line with the planned cultural capital title, for example the Markedeio theatre will be finished by April he said, and no planned performances have been booked before that time, he noted.
“Everything is under control and will be completed.”
However, there are concerns that weeks of rain could scupper plans for the opening ceremony which is planned for January 28 at the recently upgraded Paphos town hall square.
The cultural capital programme will officially begin on January 21 in Aarhus, while the opening ceremony for Pafos2017 will take place on January 28.
The spokesman said that the weekend of January 28 and 29 will see numerous celebrations which will be announced by ‘Pafos2017’, but that the main ceremony which will be attended by dignitaries from Europe will take place at 6pm on Saturday January 28.
“We are hoping that the rain will subside as we have a lot to prepare including the town hall garden.”
The mayors’ investiture ceremony will take place on Wednesday, January 11, 2017 at 6pm at Paphos Town Hall.
LONDON CITY, LARNACA AND PAPHOS AIRPORTS ALL REPORT RECORD THROUGHPUTS IN 2016
LCY images courtesy of Ben Walsh.
Cyprus, a total of 8.9 million passengers passed through Larnaca and Paphos airports last year – a healthy 18% rise on 2016.
London City Airport in the UK and the Cypriot gateways of Larnaca and Paphos all announced record breaking annual traffic figures this morning.
London City Airport (LCY) welcomed 4.5 million passengers in 2016 and put the impressive 5% upturn in traffic down to its expanding route network, investment in facilities and the continued convenience of the only airport actually in London.
CEO, Declan Collier said: “More people are travelling and making the right choice by opting for London City Airport.
"Our offer of a speedy and efficient passenger experience, just six miles from the City of London, means less time in transit and more time for the purpose of your trip.
“With 52% of all passengers travelling for business, the 5% year-on-year growth demonstrates that the appetite for business travel to and from London remains strong despite the unpredictable political climate, as we prepare to expand the airport in 2017 to meet increasing demand.”
In the summer of 2016, the UK Government approved planning permission for the £344 million City Airport Development Programme (CADP), construction for which begins this year.