Skip to main content

The Cyprus Export Services Award received by Leptos Estates

The Cyprus-based property development company Leptos Estates announced that it has received the Cyprus Export Services Award from the President of the Republic of Cyprus, Mr. Nicos Anastasiades. During a special event which was held on 12 November 2020 the company was recognised for its outstanding performance and efforts towards opening of new markets and for its contribution to the economy of Cyprus.

Previously the company received this award in 2012 and 2016, respectively. The Award itself was established in 1982, has become very prestigious and is given to companies that have encouraged foreign direct investment and have excelled in both service and performance. This time, the Leptos Group has been awarded for its outward-looking strategy, adding value and creating potential for investment.

Comments

Popular posts from this blog

The Central Bank of Cyprus issues statistics on performance on Cyprus banking sector

The Central Bank of Cyprus (CBC) released the data about the performance in Cyprus banking sector in August 2020. Total deposits rose in this period, with the outstanding amount reaching €47.9 billion. This is compared with a net increase of €105,6 million in July 2020. On an annual basis, the deposits remained unchanged, compared with an annual reduction of 0.9 per cent in July 2020. There was a net decrease of €60.7 million of total loans in August 2020, compared with a net increase of €66.9 million in July 2020, with the outstanding amount reaching 31.8 billion. The annual growth rate in August amounted to -4,4%, compared with -3,7% in July 2020. According to the Central Bank of Cyprus, the suspension of instalments which was related to loans from MFIs to households and non-financial corporations amounting to €10.4 billion, had an upward impact on the above changes in loans.

New Cyprus companies face delays in opening bank account in the jurisdiction

According to businessmen and professional service firms in Cyprus, new companies are waiting long queues to open bank accounts in the jurisdiction. Some of them are should wait for 3-4 months and even longer. According to some financial sources, it is not only banks which are to blame for this, but also insufficient Cyprus Central Bank guidance in terms of evaluation of potential account holders, and the vastly increased amount of compliance regulations. Bankers say that there is enormous and growing complexity of regulations, especially for companies with branches in several countries. By words of Chris Boreham, group head of Business Development at the Nicosia-based Highworth, “there is a definite need for improvement, as clients are giving up and going elsewhere because they can’t arrange their finances here.” There is a significant danger to the Cyprus economy, as Cyprus is being judged for its ability to provide good corporate governance. Professional associations in the jurisdict...

MoU signed by the University of Nicosia and the Association of Commonwealth Universities

The University of Nicosia (UNIC) signed a Memorandum of Understanding (MoU) with the Association of Commonwealth Universities (ACU), an international organisation dedicated to bringing universities together from around the world, and having over 500 member institutions in over 50 countries. The MoU, which has international collaboration as its first purpose, was signed by the UNIC Rector, Professor Philippos Pouyioutas, and the ACU Chief Finance Officer, Caroline Harrison. In further work, the University of Nicosia will be represented by Professor Andreas Charalambous, Executive Dean of the Medical School, who said in his comments on the joint development: “Collaboration within the ACU network is an excellent fit for UNIC, which has been instrumental to the internationalisation of higher education in the wider region”. In her turn, Ms Harrison said: “I look forward to cultivating our institutional relationship and especially, the prospect of exploring the option to establish a ...