Cyprus Company News

RUSAL , the leading global aluminium producer registered in Cyprus and headquartered in Russia, published its financial results for the third quarter and nine months ended 30 September 2019. For Q3 2019, due to the record low aluminium price on the London Stock Exchange, and the decrease in the realised premiums over the LME aluminium price revenue of the company for the period decreased by 14.8 per cent and made US$2,486mln as compared to US$2,918mln for the third quarter of 2018. In the nine months period, the company’s revenue decreased by 8.8 per cent, from US$7,915mln for Q3 2018 to US$7,222mln for Q3 2019. This was partially offset by a 9.8 per cent decrease in primary aluminium sales volume. In the third quarter of 2019, EBITDA decreased to US$237mln which is a decline of 64.9% from US$676mln for the same period of 2018. In the reported three months, RUSAL continued optimization of the cost and structure of its debt portfolio through successful placement of two tranches of ...

On the European Gaming Congress held in Milan, Italy, Cyprus-based NetShop Internet Services has been shortlisted for the award in the Category "Best iGaming Service Provider 2019", by the South European Gaming (SEG) Awards which is part of the European Gaming Congress. The Conference and the Awards Final Voting will take place on November 8, 2019. The South European Gaming Awards rewards both the B2C and B2B gaming service providers for their commitment in Southern Europe, in categories including customer service, social responsibility, future thinking, and development in all verticals of the industry. George Sarris, CTO at NetShop ISP, commented on the shortlisting: “This particular conference has a significant value to the iGaming industry as it is happening towards the end of 2019; a year full of regulatory updates and announcements from new jurisdictions and upcoming legislation changes.” He also noted that “In addition to the regulatory frameworks introduced or up...

Cyprus airport operator Hermes Airports received three gold awards in two categories, at the first ever Cyprus HR Awards : “Effective Use of Coaching – Mentoring” and “Best Change Management Strategy/Initiative”, under the Learning and Development category, and “Excellence in Workplace Wellbeing”, under the Wellbeing category. The Cyprus HR Awards are organised under the auspices of the Ministry of Labour, Welfare and Social Insurance, the Cyprus Chamber of Commerce & Industry and the Cyprus Human Resources Association (CyHRΜA) , with the nominations assessed and decided upon by a panel of independent industry experts, consisting of entrepreneurs, senior business executives, state and institutional body representatives and academic professionals. The awards were received by the Chief Executive Officer of the Cyprus company and the Senior Manager Human Resources, together with the HR team . In a statement, company’s CEO said that the Cyprus HR Awards were an important step tow...