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CYPRUS: EUROPE’S EMERGING SUCCESS STORY

CYPRUS:  EUROPE’S EMERGING SUCCESS STORY

January 8, 2015

For business’ looking for a place in Europe to invest or to establish regional headquarters or operations, Cyprus should be at the top of the list.  No country has done more in the past year to re-establish its street “cred” as an important international business center full of strategic advantages and abounding with new investment opportunities.  As many will recall, in 2013 Cyprus experienced a banking crisis caused by losses from an EU-sanctioned haircut on Greek sovereign bonds. But Cyprus defied all the worrying predictions, and almost immediately began moving forward.  It has done so by implementing tough reforms and undertaking structural changes that have made its economy and banking system stronger and better suited for today’s internationally competitive world.
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US vice-president Joe Biden pushes energy cooperation in visit to Cyprus

US vice-president Joe Biden pushes energy cooperation in visit to Cyprus

May 21, 2014

US vice-president Joe Biden arrived in Cyprus on Wednesday, the most senior US official to visit in more than 50 years, as the quest to find alternative energy routes into Europe focused international attention on the continent's only divided country.

With the discovery of vast reserves of oil and natural gas deposits in the eastern Mediterranean, the visit highlights the growing importance Washington has given to the region following the crisis in the Ukraine. If unlocked, the hydrocarbons have the potential to substantially reduce Europe's reliance on Russia for energy supplies.

"I wanted to come to primarily underscore the value the United States attaches to our growing cooperation with the republic of Cyprus," Biden said in an address moments after touching down. "This relationship is now a genuine strategic partnership which holds great promise."

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Oilfield Services Leader to Set Up Regional Base in Cyprus

Oilfield Services Leader to Set Up Regional Base in Cyprus

May 2, 2014

Halliburton and Schlumberger, two of the world’s largest oilfield services companies, have chosen Cyprus as their base of operations for the eastern Mediterranean.

The two multinational corporations will sign the relevant agreements with the government this month.

The Halliburton agreement will likely be concluded the weekend after the next (May 10 or 11), with Schlumberger putting ink on paper one or two weeks later.

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