The Cyprus-U.S. Chamber of Commerce

Noble considering to build natgas terminal in Cyprus

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 16:42:31 +0000

Noble Energy is considering the option of building a terminal in Cyprus in order to provide natural gas for the domestic market and for exports, Vice President Noble Energy Terry Gerhart has said, noting that the estimation for 5 to 8 trillion cubic feet natural gas in Cyprus’ block 12 is a very large accumulation of gas… Read More

Speaking here Wednesday after a meeting he held with the President of the Republic of Cyprus Demetris Christofias, Gerhart said that they had a very good meeting with the President. “We updated him on our progress with the well”, he said and added: “As everyone is aware we drilled a successful well and made an announcement at the end of the year. Somewhere between 5 and 8 trillion cubic feet of gas were found and we look forward to progressing it and bringing it to reality for the Cypriot market”.

Cyprus parliament rebukes UN envoy for perceived bias in reunification talks

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 16:37:37 +0000

NICOSIA, Cyprus — The Cyprus parliament on Thursday took the unusual step of rebuking a United Nations envoy over perceived bias that it says is hindering long-running talks to reunify the divided island.

Lawmakers unanimously approved a resolution decrying Alexander Downer’s “one-sided and detrimental statements and actions” that they say have eroded his credibility as an impartial facilitator in the talks between rival Greek and Turkish Cypriots.

Downer said last month that a peace accord needed to be reached before “Greek Cypriots” take on the “very heavy responsibility” of the European Union’s rotating presidency in July.

The use of the term “Greek Cypriots” instead of merely “Cyprus” stirred up a hornet’s nest because it was interpreted to be a deliberate attempt to diminish the internationally recognized government in the Greek Cypriot south of the island… Read More

Russian Deputy Minister of Energy in Cyprus for Business Forum

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 16:27:15 +0000

Russia’s Deputy Minister of Energy Yury Sentyurin will be visiting Cyprus next week for the Russia-Cyprus Business and Investment Forum to take place Friday 10th in the coastal town of Limassol. Sentyurin will be moderating a panel discussion entitled “Business Opportunities”.

Speaking to the press on Thursday, Fedias Pilides, President of the Cyprus Chamber of Commerce and Industry (CCCI) which is co-organizing the event, noted the importance of Sentyurin’s visit to Cyprus, adding that “energy issues as well as other matters are of high interest for the Russians”.

Asked whether Russian companies have expressed interest for the second licensing round for the 12 remaining blocks in Cyprus’ Exclusive Economic Zone, Pilides said that some companies have shown interest, stressing that “the fact that the Deputy Minister is coming, is an indication that the possibility (for the second licensing round) is being explored”… Read More

European Socialists say Cyprus’ Turkish occupation intolerable

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 02:11:45 +0000

The President of the Party of European Socialists (PES) Sergei Stanishev expressed support to the efforts of Cyprus President Demetris Christofias to reach a Cyprus solution, adding that the country’s Turkish occupation cannot be tolerated by European Socialists.

The President of the Republic of Cyprus met today with Stanishev in Brussels, with whom he discussed developments in Cyprus talks and the forthcoming Cyprus EU Presidency. The meeting took place just before a preparatory PES meeting, in view of the informal EU Summit, to take place later today.

The two men also exchanged views on issues of financial development and social cohesion in the EU, in light of the ongoing financial crisis and growing unemployment, especially among the youth… Read More

Cyprus Finance Ministry says banks will recapitalize on their own, won’t need government help

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 01:59:09 +0000

NICOSIA, Cyprus — Cyprus’ banks will be able to recapitalize on their own and won’t need state support thanks to fiscal measures buttressing the island’s financial system, the government said on Saturday. Cyprus’ Finance Ministry said in a statement that the economy has “strong foundations” and added that it will soon unveil a growth-oriented package of measures that it’s preparing in partnership with the private sector.

The ministry made its remarks a day after international ratings agency Fitch downgraded the eurozone member by a notch to BBB-, a step above junk status… Read More

Financial crisis in Cyprus is being successfully tackled, says Ministry

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 01:18:25 +0000

Finance Minister Kikis Kazamias today said the government is successfully tackling the financial crisis facing the Cypriot economy.

At an ceremony in Athens for Cypriot academic achievers, Kazamias highlighted the climate of political consensus and social participation and expressed hope that this will continue in 2012, despite a 0.2 per cent forecast GDP growth.

Referring to the causes of the financial crisis in Cyprus, as a result of the global financial crisis, Kazamias recalled the distortions in the economy, structural weaknesses as well as last July’s massive explosion at a naval base on the island which crippled the main power station, resulting in regular power cuts. Read More

Fitch cuts euro zone ratings; Cyprus says “unfair”

Cyprus-U.S. Chamber of Commerce — Sat, 04 Feb 2012 01:07:27 +0000

Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years. In a statement, the ratings agency said the affected countries were vulnerable in the near-term to monetary and financial shocks… Read More

The Cyprus-U.S. Chamber of Commerce Annual Membership Meeting and Election of the Board of Directors and Executive Committee

Cyprus-U.S. Chamber of Commerce — Thu, 27 Oct 2011 23:26:13 +0000

NEW YORK – At the Annual Board Meeting of the Cyprus U.S. Chamber of Commerce, held in New York City on October 5, 2011, outgoing President Mr. Dennis Droushiotis of Equis Trading, formerly the Cyprus Trade Commissioner in New York thanked the membership for their support and unwavering commitment to the Chamber. Mr. Droushiotis, in a moving expression of appreciation said: “ I have been very privileged to have worked with such a distinguished and committed group of Board of Directors for the past two years as President of the Cyprus-US Chamber of Commerce’’.

Mr. Droushiotis thanked the Chairman of the Board, Mr. Andy Comodromos “ who has relentlessly contributed to the Cyprus-US Chamber, since its inception in 1998, and who has been an unwavering source of strength and valuable advice to me, during my tenure serving as president”. Mr. Droushiotis added “I am grateful to our former President and Vice Chairman, Peter Kakoyiannis, for always being there and supporting the work of our Chamber and his valuable collaboration for the past years and to Mrs. Despina Axiotakis, our Executive Director, who has maintained an extraordinary resilience over the past two years and has most efficiently and with responsibility and passion executed the work of the Chamber – in light of personal challenges that she encountered with the illness and loss of our good friend and her beloved husband John”.

Board Chairman Andy Comodromos thanked the Board for their steadfast commitment and enthusiasm in promoting the work of the Chamber and asked them to continue their support and work with the newly elected President of the Chamber, Mr. Vassos Vassiliou. He also pointed out that one of our highlights this year, was the honoring of Nobel Laureate, Dr. Christopher Pissarides at the Chamber’s Annual Dinner and the event gave the Chamber high level of exposure in the U.S. and Cyprus. He thanked the retiring President Dennis Droushiotis for his untiring dedication, Mr. Peter Kakoyiannis, Vice Chairman, and Executive Director Despina Axiotakis for all their hard work. He has vowed to stay active and support the President on all upcoming projects.

Chamber Treasurer, Mr .Kyriacos Skevas reported on the Chamber’s financial status and was happy to report that the Chamber is in a good financial condition.

The Consul General of Cyprus Ms. Koula Sophianou addressed the membership and expressed her admiration for the Chamber’s work and offered her continued support for the Chamber.

At the conclusion of the General Membership Meeting, the elections for the new Board were held. The newly elected Board Members are: Philip Christopher, Andreas D. Comodromos, Theo David, Dennis Droushiotis, Renos Georgiou, Fannie Holliday, Marios Ioannou, Theana Iordanou, Nicholas Karacostas, Charis Lapas, Nikos Mouyiaris, Peter Papanicolaou, Nicolas Nicolaou, Kyriacos Skevas, Vassos Vassiliou.

The Board then voted to elect it’s new Executive Committee for a two year term, and its new members are as follows:

Vassos Vassiliou, President
Nicholas Karacostas, Vice President
Nicolas Nicolaou, Secretary
Kyriacos Skevas, Treasurer
Peter Kakoyiannis, Chairman of the Board
Dennis Droushiotis, Vice Chairman
Costa Kensington, Legal Counsel
Andy Comodromos Honorary Member Founding President of the Chamber
Despina Axiotakis, Executive Director.

The Cyprus-U.S. Chamber of Commerce was inaugurated in 1998 by H.E. Glafcos Clerides (then President of The Republic of Cyprus) to promote and extend commercial, industrial, and economic relations between the Republic of Cyprus and the United States. By creating a forum in which its members share ideas and knowledge, the Chamber helps open doors to potential investors, companies and individuals, offers advice on foreign investment projects, holds exclusive briefings by private and government officials, and works to build strong partnerships between Cypriot and American professionals. The Chamber’s membership comprises hundreds of distinguished entrepreneurs, executives, and professionals in numerous fields including finance, law, communications, energy, engineering, and architecture

Photos: Dr. Christopher Pissarides “Cyprus-U.S. Chamber of Commerce Distinguished Merit Award

Cyprus-U.S. Chamber of Commerce — Sat, 18 Jun 2011 20:39:05 +0000

Credit: ETA PRESS Fotis ETA IMAGe

Photos from the “Cyprus-U.S. Chamber of Commerce Distinguished Merit Award’s Dinner at the New York Hilton on May 6th, 2011.

The Dinner attended among others: the Ambassador of the Republic of Cyprus Mr. Pavlos Anastasiades, the Consul General of the Hellenic Republic Mrs. Aglaia Balta, the President of the Cyprus-US chamber of Commerce Mr. Dennis Droushiotis as well as its Chairman Andreas Komodromos, Ambassador Minas Hadjimichael, the Consul General of the Republic of Cyprus Ms. Koula Sofianou, AHEPA Supreme President Nicholas Karacostas, the host of NPR’s Morning Edition of WNYC Radio Mr. Soterios Johnson, the Executive Director of the Cyprus-US Chamber of Commerce Ms. Despina Axiotakis as well as the Dinner Chairman Mr. Peter Papanicolaou.

Click on photos to enlarge (Photos can also be viewed in the Media Gallery)

Credit: ETA PRESS Fotis ETA IMAGe

In the News: Cyprus-U.S. Chamber of Commerce

Cyprus-U.S. Chamber of Commerce — Sat, 18 Jun 2011 19:20:50 +0000

In the News: Cyprus-U.S. Chamber of Commerce

Dr. Christopher A. Pissarides was honored by the Chamber on Friday, May 6th with the “Cyprus-U.S. Chamber of Commerce Distinguished Merit Award at the New York Hilton.

Dr. Christopher A. Pissarides, LSE Professor has been awarded the 2010 Nobel Prize in Economic Sciences (together with Peter Diamond of MIT and Dale Mortensen of Northwestern).

Various news article published about the event:

Phileleftheros May 9th, 2011

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National Herald (Greek Version) May 9th, 2011

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National Herald (To Periodiko) May 14th, 2011

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Cyprus News Agency May 8th, 2011

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