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...

American Hellenic Hull Insurance Company (AHHIC), focused on private marine insurance industry, entered into a new cooperation with the World Maritime University (WMU), founded by the International Maritime Organization (IMO). The WMU and American Hellenic Hull Insurance Company, which is 100% owned by the American P&I Club and having its registered office in Limassol, Cyprus, signed a Memorandum of Understanding providing for cooperation in the field of marine insurance, at the Maritime Cyprus 2019 Conference and Exhibition. Among the areas of agreement there are marine insurance postgraduate diploma, professional development courses and marine insurance related events. The MOU shall have a duration of five years, and during the ceremony of signing the agreement it was welcomed by Shipping Deputy Minister of the Republic of Cyprus, President of the Cyprus Shipping Chamber, as well as CEO of American Hellenic Hull Insurance Company, and WMU President.

Orthodoxou Aviation of Orthodoxou Group of Companies presented new partnership with the Ukrainian airline SkyUp Airlines . The event, which took place in Nicosia on October 10, 2019, was attended by tour operators and media representatives, as well as the First Secretary of Embassy of Ukraine. The Honorable Deputy Minister of Tourism of Cyprus, Mr. Savva Perdios, in his speech referred to two very important issues for the Ministry of Tourism regarding the new partnerships - to establish relationships with new markets and to establish relationships with partners for whom Cyprus is an all-year-round destination. He also said that the Ministry of Tourism is making every effort to promote Cyprus as a tourism industry throughout the year, not only during the summer, and thanked both companies for creating new partnerships and helping tourism and economy of the island. The Managing Director of Orthodoxou Group, Mr. Antonis Orthodoxou, said in his comments: “After a strong start, we ar...

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 ...

Hellenic Bank presented the “JumpStart” scholarship programme, which grants 20 scholarships to 20 students, worth €2,000 per year up to the fourth year of their studies and based on specific academic, social and economic criteria. By words of the Chairman of the Board of Directors of Hellenic Bank Evripides Polycarpou, the programme would support young people with dreams and with talent, giving them “the tools to pursue their dreams.” In the update on the scholarship programme, videos about the outreach campaigns with existing scholarships were shown, and an explanatory video on the electronic submission of the applications. The application process will take place from 1 to 30 of October 2019.