News
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Israel is a bridge to invest in Cyprus
By: Gastón Saidman Israel's geographic location offers investors access to the Mediterranean Sea and, thanks to the Abraham Accords, to the Middle East. While the war situation in the region is not the most demanding, the Israeli business community knows how to distinguish between the Palestinian population and the Hamas...Read more -
ECONOMIC NEWS APRIL 2025
28/04/25 ENERGY REALTED NEWS Philenews reported the European Commission has avoided mentioning the Crete-Cyprus-Israel electric interconnection project (GSI) while publicly endorsing other energy initiatives, as the €657 million EU-funded project faces indefinite suspension. European Commission President Ursula von der Leyen praised the Gregy project connecting Greece and Egypt during an...Read more -
ECONOMIC NEWS MARCH 2025
31/03/25 ENERGY NEWS The completion of drilling at the ‘Electra’ field in Block 5 of Cyprus’ Exclusive Economic Zone (EEZ) has been pushed forward for a few days due to minor delays caused by geological pressures affecting the drill rig, Energy Minister George Papanastasiou said. Politis reported that the advent of natural gas will...Read more -
ECONOMIC NEWS FEBRUARY 2025
25/02/25 ISRAEL RELATED The Cyprus Chamber of Commerce & Industry posted on social media that its president & Secretary General welcomed the Ambassador of Israel Oren Anolik, for a constructive discussion on trade relations and investment opportunities.Recognizing the historically close ties between the two nations, they focused on strengthening economic collaboration,...Read more -
ECONOMIC NEWS JANUARY 2025
31/01/25 ENERGY NEWS There was a debate in Turkey’s parliament concerning drilling work being carried out by ExxonMobil and QatarEnergy in Block 5 of Cyprus’ exclusive economic zone (EEZ). Ruling AK Party deputy leader Leyla Sahin Usta explained that according to maritime claims recognised by the Turkish government, Block 5 belongs to Egypt and not...Read more -
ECONOMIC NEWS DECEMBER 2024
19/12/24 The Cypriot government is “ready” to begin consultations with both Greece’s independent transmission system operator ADMIE and the country’s energy ministry to find an agreement on “all matters” related to the Great Sea Interconnector, Energy Minister George Papanastasiou said. On this matter, he was asked about reported “American concerns” over the feasibility...Read more -
ECONOMIC NEWS NOVEMBER 2024
29/11/24 ENERGY RELATED NEWS Philenews with the title: “A new critical test for geopolitical risk is approaching” reported that the surveys of Italian research vessel IEVOLI RELUME (and another one) for the needs of the Cyprus-Greece electrical interconnection are currently being carried out within the territorial waters of the two countries but soon will be carried...Read more -
ECONOMIC NEWS OCTOBER 2024
31/10/24 Energean has completed a significant investment to increase oil production at its Karish field off Israel’s coast, with critical equipment being shipped through Limassol port. The M10 equipment (second oil train module) for the FPSO Energean Power was loaded onto a specialist vessel at Limassol port for transport to the offshore site....Read more -
ECONOMIC NEWS SEPTEMBER 2024
26/09/24 The Ministry of Environment and Energy of Greece has filed to Greek Parliament the amendment that includes the arrangement for the equal sharing of geopolitical risk between Greece and Cyprus, for the Great Sea Interconnector. The regulation is included in the draft law of the Ministry of National Economy on...Read more -
ECONOMIC NEWS AUGUST 2024
28/08/24 Decisions regarding the electricity connection between Cyprus and Greece need to be taken sometime in the next few weeks, Energy Minister George Papanastasiou said. Cyprus, he noted, is the only remaining EU member state not connected to the common electricity market. The minister described the interconnector as one of the three...Read more
