News Cyprus Limassol District: Why Russian Investors Stay in Cyprus Despite Restructuring Hit
Cyprus’s recent bailout agreement came as a rude shock to Spectrum Partners. The Russian hedge fund firm, which manages a long-short Russian equities fund and an emerging-markets debt fund, has been successfully plying its trade from Limassol, Cyprus’s second-largest city, for more than a decade. As part of the debt deal, however, the Cypriot government imposed a stiff €8.3 billion ($10.7 billion) haircut on uninsured depositors, mainly Russians, and slapped on capital controls.
News Cyprus Limassol District: Evel and corporate social responsibility in practice
The Limassol Chamber of Commerce and Industry (Evel) marked its annual social contribution this week by extending financial support to charitable foundations across the city and district of Limassol, continuing a practice that has become a steady part of its work beyond business, according to its announcement. In that context,…
News Cyprus Limassol District: Water bills can now be paid at post offices and supermarkets in Limassol
Citizens in Limassol can now pay their water and sewerage bills through local post offices and selected supermarkets, the Limassol district government (EOA) announced on Thursday. EOA Limassol president Yiannis Tsouloftas said the collaboration with Cyprus post marks an important step towards modernising services. He added that the move enhances…
News Cyprus Limassol District: Man remanded in theatre embezzlement case
Limassol district court on Tuesday remanded a 61-year-old man in custody for seven days on suspicion of embezzling about €235,000 from Pattihio municipal theatre. The suspect, reportedly the theatre’s ...
