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 BROWNE  CYPRUS

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.

An open reception will follow.

Bejay Browne

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.

Get more from a winter break than just sun and sand  in Cyprus is Winter and Spring. 
There is so much to see and do , including a walking tour of Paphos which will illuminate the intriguing history of the coastal town. 
Visit the incredibly well-preserved Paphos Mosaics, spread among several Roman villas, and the ancient Tombs of the Kings. 
Away from the lovely seaside town of Pafos , which is the European Capital of Culture for 2017 , are the wonderful Troodos Mountains and isolated villages, Byzantine churches and the mountaintop Kykkos Monastery, home to a museum resplendent with Byzantine icons and other treasures. 
You can also visit the divided capital city, Nicosia, with its cosmopolitan cafés, restaurants and shops and nearby Pano Lefkara, a village known for its exquisite lace. Optional excursion takes you beyond the Green Line to Turkish Northern Cyprus, including a visit to Bellapais, once home to writer Lawrence Durrell, and featuring the dramatic ruins of a Gothic abbey. You can also opt for a tour that takes in the Greco-Roman city of Kourion with its impressive amphitheatre, Limassol’s old town, and the rock where, according to legend, the Greek goddess of love Aphrodite emerged from the sea.
Wonderful beaches , Winter snow on top of Troodos complete with snow lifts and ski runs , Wine regions with excellent Wineries to visit , Ancient ruins of the World Heritage sites , in fact so much more than you expect is waiting to be explored. 

Secure your most precious passengers - its the Law ! 

Not securing children in car seats is a crime and against the law , the head of road safety promotion non-governmental organisation, Reaction, Marios Stavrou said on Monday.

The group called for a revision of the legislation concerning children’s car seats and the introduction of stricter penalties on drivers who do not put children in car seats.

“Unfortunately in Cyprus we daily witness children playing or moving aimlessly in the car or worse, standing between the seats. It is clear that in a collision even at 35 kilometres per hour, these children will suffer physical injury,” Stavrou said in an announcement.

Current legislation provides that children under 1.50 metres tall must be transported in the car with the appropriate child restraint system, in accordance with their weight, he said.

“It is a crime, for parents to properly wear a seat belt, but their children not, and a worse crime is the fact that many parents and grandparents hold children in their arms, let alone infants,” Stavrou said.

The car seat, he said, must be in line with the international United Nations standard for all EU member states –  ECE R44 / 03 – or later, and must bear the capital letter `E` and a number which indicates the country of approval.

He added that manufacturers must also indicate the minimum and maximum weight of the child that can use the seat, while it must bear the word ‘Universal’ meaning it is compatible with all vehicles.

“The driver of the vehicle is responsible for the safe transportation of children under 16 years and the use of child restraint systems,” Stavrou said.

Every year, he said, more than 4,300 children are killed in the EU in road accidents, while one third of these deaths concern children who were passengers.

Simila Cyprus Car Hire have EU standard Baby Seats and Child Booster Seats available with all of the cars and there is no charge during the rental period. 

For details visit ; CLICK HERE

Revised Cyprus EU Citizenship Scheme Approved through Parliament

The Council of Ministers have just approved this week the revised scheme for granting Cyprus EU Citizenship to non-Cypriot investors and Entrepreneurs.

In a statement to the press Mr Harris the Minister of Finance said that the revision of the scheme aims to encourage " Real Investments" that will benefit the Cyprus Economy. 

The Government also said that they want to attract new investors who will choose Cyprus as their base for residence and economic activities. 

New Investors need to be kept in Cyprus for a minimum of 3 years and companies in which investments are made should employ at least 5 local Cypriot citizens , so aiding local jobs as well.

The most important changes are that this new updated scheme abolishes the provision for a collective investment of € 12 million and is reduced to € 2 million with the purchase of a private residence of at least € 500,000 , so this opens up Cyprus as a very attractive proposition to many more non-EU investors , primarily in China and Russia , but also now in Great Britain after the BREXIT vote. 

11th International Film Festival starts in Paphos

Weds 14th September 2016

The eleventh Cyprus International Film Festival – The Best of the First – (CYIFF) will start in Paphos on Wednesday 14th September and screen 100 films in addition to a few parallel events that might even make you feel you are at the Oscars.

The festival, that will run over a period of 12 days at both K-Cineplex the Kings Avenue Mall and at the Neapolis University amphitheatre, will include feature films, animations and documentaries from directors from 37 countries from around the world.

All screened films will enter a number of competitions, the main one being the Golden Aphrodite for feature films, named to honour the goddess Aphrodite who is said to have been born in the waters of Paphos and is the reason why Cyprus is called the island of love.