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UP 42%




n what is believed to be the ÄYZ[L]LYVMÄJPHS]PZP[[V*`WY\Z by a British Secretary of State for Defence, Sir Michael Fallon met with President Nicos Anastasiades and his Cypriot counterpart, Christoforos Fokaides, earlier this month. “I’m here at an important juncture for Cyprus’ communities as negotiations continue towards a solution to the long-standing Cyprus issue. As a guarantor power, the UK will do whatever necessary to secure a settlement,” he said, adding that the UK’s offer to cede nearly half of the territory of the Sovereign Base Areas to a reunited Cyprus remains on the table. “I hope this will make an important contribution towards an eventual deal,” he added. Fallon thanked Cyprus for its “pivotHSYVSL¹PU[OLÄNO[HNHPUZ[0:0:UV[PUN[OH[ British aircraft taking off from Cyprus have conducted more than 1,200 strikes in Iraq and Syria over the past two years.

Election recount ormer Limassol


Mayor Andreas POLITICS Christou and AKEL have finally requested a recount of the votes cast in last December’s election, which Christou lost by a mere nine votes (13,911 compared to Nicos Nicolaides’ 13,920). Nicolaides has already been sworn in as Mayor and immediately after the election Andreas Christou had said that he was not interested in a recount. The argument of those asking for a recount is that there was evidence pointing to a number of ballots for Christou being erroneously marked as invalid.

10 | GOLD | The Business Magazine of Cyprus

The number of saloon car registrations rose in January by 42% to 2,900, mainly due to increased registrations of second-hand vehicles, according to Cystat. The number of used saloons registered in January rose by 69% to 1,638 compared to the same month in 2016. The number of new car registrations rose by 17% to 1,262.


he value of credit card transactions by Cypriots increased by 7% to €212.2m in January compared to last year, according to payment processing company JCC. The value of transactions by holders of Cypriot cards in the Turkish held areas of the island and in Turkey last month was €710,101 and €173,716 respectively, JCC said. Holders of Turkish cards spent a total of €1.6m for purchases in the government controlled areas during the same month.


WISTA Cyprus Elects New Board

t its 4th Annual General Meeting last month, WISTA Cyprus, the local branch of the Women’s International Shipping & Trading Association, elected a new Board of Directors as follows:


PRESIDENT: DESPINA PANAYIOTOU THEODOSIOU, Managing Director, Tototheo Group. VICE-PRESIDENT: ANNA VOURGOS, Director, Aphentrica Marine Insurance Brokers Ltd. SECRETARY GENERAL: YVONNE TSANOS, General Manager and Projects Manager, ÖL Shipping Group. TREASURER: TASOULA TSAKANIAS, Financial Controller, Maestro Shipmanagement Ltd. MEMBERS: HELEN JOANNOU CHRYSOSTOMOU, Managing Partner, Maritime Executive Recruiters Consultancy; KOULA LOUCA, Divisional Manager, EMCO; ANNA PITTALIS, Commercial Manager, Intergaz Chartering Ltd. YOUNG BOARD AFFILIATE: GINA PANAYIOTOU, Legal Manager, Intership Navigation Co. Ltd.




New CIPA Campaign


he Cyprus Investment Promotion Agency (CIPA) is launching a major three-month advertising campaign in key markets around the world on two international media platforms. It will include a series of videos promoting Cyprus as an investment destinatoin, which will be screened by Bloomberg TV and CNN in Europe, the USA and Asia. The campaign will also include online promotion on, plus advertorials and segments on Cyprus in specialised Bloomberg bulletins and newsletters. An event dedicated to investment opportunities in Cyprus will be organised at Bloomberg’s London headquarters in the spring.

GOLD Magazine February Issue first 10 pages