Cyprus Business Now

Transport Minister Yiannis Karousos said that the plan for the implementation of sustainable mobility solutions in Nicosia is progressing, according to the Cyprus News Agency (CNA).

Speaking during an event commemorating the launch of the recently revamped Kiriakou Matsi avenue, the minister said that the feasibility study for the plan is at its final stages, with particular emphasis being given on reducing traffic during peak hours.

“The work carried out on Kyriakou Matsi avenue is a good example of sustainable mobility as it ensures the safe usage of both vehicles but also pedestrians and handicapped people,” Karousos said in reference to the avenue itself.

Ernst & Young have been appointed as the Cypriot government’s financial advisor on the Larnaca port and marina area redevelopment project.

The company’s business strategy and transaction team advise the transport ministry on the project and liaise with Kition Ocean Holdings Ltd, a company founded in 2018 and tasked with carrying out the project.

“I am extremely proud of what our team has achieved, as this transaction marks the beginning of an exciting new chapter for the economy of Larnaca and Cyprus in general,” Ernst & Young partner and head of strategy Stelios Demetriou said.

“EY is recognised as the leading Merger and Acquisition Consultant (S&E) in Cyprus, while our strong portfolio of successful transactions highlights our experience in identifying and realizing attractive investment opportunities throughout Europe,” Demetriou added.

Hermes Airports has warned that Cyprus handling of the pandemic will directly influence the number of foreign visitors to the island.

“August and September can prove to be better than July, which had 50 per cent of the passengers when compared to the same month in 2019,” Hermes Airports Senior Manager for Aviation Development, Marketing and Communication Maria Kouroupi told Stockwatch.