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24th AGM of the Cyprus Shipping Council
More EU expansion by Banc De Binary
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President Nicos Anastasiades
CSC President Capt. Eugen Adami.
Nicos Nicolaides, MP
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he 24th Annual General Meeting of the Cyprus Shipping Chamber (CSC) attended by government officials, MPs, diplomats and representatives of political parties and various professional organisations was held in Limassol on Friday, 26 April 2013. The meeting was addressed by President Anastasiades, by Nicos Nicolaides, on behalf of Yiannakis Omirou, Speaker of the House of Representatives, and
CSC President Capt. Eugen Adami. In his address, the President of the Republic praised and congratulated the CSC for its continuous contribution to and active involvement in the further development of Cyprus shipping, describing the shipping sector as the “backbone” of the Cyprus economy, upon which it will depend on the road to recovery. He also recalled his pre-election promise to create the post of Under-Secretary for Shipping which, he said, will provide the necessary impetus to be in a position to contribute practically to the recovery of the
economy through the faster and more accurate development of government policy on shipping. On behalf of the Speaker of the House of Representatives, Nicos Nicolaides said that MPs are ready to support measures that aim to maintain and further strengthen Cyprus shipping, such as the Bill for the creation of the post of UnderSecretary for shipping and the promotion of the Tonnage Tax system abroad. CSC President Capt. Eugen Adami emphasised that, irrespective of the effects of the recent banking problem on a number of shipping companies, the ship-
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ping Industry remains faithful to Cyprus and its Registry and continues to support the Cyprus economy. He also stated that only through the restoration of its economy, image and credibility will Cyprus be able to restore its position as a reliable investment centre. He therefore appealed to all the political parties to join forces with the government and support efforts in this direction, including the immediate approval of the Financial Assistance Package by the House of Representatives. Elections were also held for a new Board of Directors of the Chamber for the period 20132015.
anc De Binary, one of the world’s fastest-growing online binary options trading brokerages with over 200,000 client accounts and trading activity in over 80 countries, is in the process of opening bank accounts in the UK, Germany and eight other EU countries. As the first EU-regulated standalone binary options company, Banc De Binary is growing rapidly on a global basis, despite the current economic crisis in the EU. “The EU may be suffering a downturn now, the crisis has impacted Cyprus, Slovenia, Italy, France, Spain, the UK. But if I’ve learned anything from business, it is that a downturn is always followed by an upturn, and we are ready for this when it happens,“ said company CEO Oren Laurent. Banc De Binary plans to increase the numbers of its employees “when the time is right” and is aware of the opportunity offered by new banking and compliance talent on the market, following the financial crisis in Cyprus’ banking system. “We are always on the lookout for talented professionals in the financial services sector, who are interested in entering the Binary Options industry, which we expect to see challenging the Forex industry within the next three to four years,” said Laurent. “While we sincerely hope that the banking sector in Cyprus and the rest of the EU recovers quickly, we believe that Binary Options offers an incredible alternative opportunity for proactive, experienced financial services professionals,” he said. Banc de Binary was established in 2009 in the United States and it is the first EU-licensed binary options brokerage in the world. It was the first company in this booming industry to meet the strict regulatory requirements of the Cyprus Securities and Exchange Commission (CySEC), which follows Markets in Financial Instrument Directive (MIFID) laws in the European Union.