Day: August 25, 2022

The US appears positive in the development of resources after the announcements of the ENI-TOTAL consortium for natural gas discoveries in Block 6 of Cyprus’ Exclusive Economic Zone. According to statements by a State Department representative, such a development will promote European energy security while strengthening the foundations for energy security throughout the region.

Commenting on ENI-TOTAL’s recent announcements and estimates to date on Block 6’s Cronos-1 deposit, the State Department spokesperson noted:

The USA remains united with our allies and partners in our commitment to advancing European energy security, reducing our collective dependence on Russian energy, and maintaining pressure on the Kremlin. US policy on Cyprus’ Exclusive Economic Zone is long-standing and has not changed.”

He also emphasised that the US recognises the right of Cyprus to develop the resources in its Exclusive Economic Zone. “We believe that Cyprus’ oil and gas resources, like all its resources, should be shared fairly between the two communities. Resource development in the Eastern Mediterranean should promote cooperation and provide the foundations for sustainable energy security and economic prosperity across the region.”

Source: Cyprus News Agency

Shipping Deputy Minister Vassilios Demetriades met with the Ambassador of Panama Julie Lymberopoulos with whom he discussed issues of mutual interest and the bilateral ties in the shipping sector. They both reaffirmed the excellent relations in this area.

During the meeting, which was also attended by the Director General of the Seafarers Directorate of Panama Shipping Authority Capt. Maltez, the two sides also discussed bilateral cooperation in issues related to challenges in the shipping sector worldwide.

Source: Cyprus News Agency

Scoutbee and Promena Forge Partnership to Drive Agile and Competitive Supply Chains (Graphic: Business Wire)

August 25, 2022 04:00 AM Eastern Daylight Time

BERLIN & ISTANBUL & WASHINGTON–(BUSINESS WIRE)–Scoutbee, the leading AI-powered supplier intelligence and discovery platform and Promena, Turkiye’s leading provider of strategic procurement software, today announced a partnership to empower their customers to better navigate the growing shifts in the procurement landscape.

The adoption of digital processes has played a key role in responding to these challenges, as has collaboration between all stakeholders in the supply chain. By working together, procurement organizations, solution providers, and suppliers can create agile and competitive supply chains.

Collaboration at the forefront of innovations within the supply chain

The partnership between Scoutbee and Promena offers procurement leaders an effective end-to-end scouting journey, allowing them to both broaden their supplier portfolios and avoid potential supply chain disruptions.

Gregor Stühler, Co-founder and CEO at Scoutbee, said, “Our shared commitment to helping businesses overcome their procurement problems – along with our complementary pools of suppliers – makes Scoutbee and Promena an ideal combination.”

Through this collaboration, Scoutbee customers will be able to scout digitally for new suppliers via Scoutbee’s extensive data foundation and then validate these suppliers against their best prices by using the Promena for cost reduction, greater efficiencies, risk mitigation, reduced time to market, increased product innovation, and so on.

“Our solutions are built on supplier data from our customers, and our AI-powered crawlers that search the internet for new information. For instance, if they have goals around diversity, we help them find suppliers they should work with. The results show that Scoutbee’s top-line impacts can be remarkable. Adding Promena to the mix is a win-win situation,” Gregor Stühler explains.

“This partnership will help businesses manage their supply and procurement processes while facilitating digitization efforts,” Promena’s Managing Director Orcun Guven echoes the view. The alliance will allow Promena’s clients to mitigate risk, reduce costs, and achieve supplier diversity goals.

“Through the use of our services, clients can utilize Scoutbee’s resources and enrich their supplier database to build supply chain resilience. This includes simplifying the collection of supplier data from multiple regions, thereby eliminating the risks associated with supply chains that rely on single sources or locations. By focusing on operational efficiency, cost-effectiveness, and growth opportunities throughout the supply chain, Promena helps its clients maximize business value.” concludes Orcun Guven.

Source: Cyprus News Agency

Today, the Commission launched an online public consultation on the upcoming legislative proposal for a new EU framework for forest monitoring and strategic plans, as foreseen in the EU Forest Strategy for 2030. The aim is to develop an EU-wide forest observation framework to provide open access to detailed, accurate, regular and timely information on the condition and management of EU forests. Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevicius said: “Our forests are under huge pressure. We have all witnessed the wildfires this summer, and in addition to climate change, forests suffer from biodiversity loss, increased land use, pests and the intensification of forest harvesting. Yet, they also play a key role in responding to those challenges. This new initiative on forest monitoring and strategic plans will ensure that timely and accurate information on EU forests is available, so that policymakers, foresters and land managers are able to take swift and decisive action in response to the new pressures on forests.” In addition to improving forest monitoring, the information gathered through forest observation will lead to more data-driven decision-making on forests. It is expected to, which is key to increasing public trust in forest management, reducing illegal logging, incentivising and rewarding more sustainable forest management, and supporting the adaptation of forests to climate change. This initiative will also help deliver a Europe fit for the digital age as it will empower people, businesses and administrations by providing access to harmonised forest-related data and making better use of digital technologies. The European Green Deal calls for action to improve the quantity and quality of forests in the European Union, so the EU can reach its goal of climate neutrality and creating a healthy environment. The new EU Forest Strategy for 2030 set the vision for effective afforestation, forest preservation and restoration in Europe. All stakeholders are invited to share their views during the online public consultation that runs until 17 November.

President von der Leyen participates in the Bled Strategic Forum

Next Monday, 29 August, President Ursula von der Leyen will be in Slovenia to participate in the Bled Strategic Forum, where she will deliver a keynote speech. There, she will also meet the President of Slovenia, Borut Pahor, and Prime Minister Robert Golob. The Bled Strategic Forum has been for 17 years a leading informal platform where high-level participants discuss political, security and development challenges facing Europe. This year, it will focus on the impact of the Russian invasion of Ukraine on international and humanitarian law, and its repercussions on the economy, and on the fight against climate change. Other speakers include the President of Ukraine, Volodymyr Zelenskyy; the President of Moldova Maia Sandu; the President of Iceland Guðni Th. Jóhannesson; the Prime Minister of Croatia, Andrej Plenkovic and the Prime Minister of Albania Edi Rama. The President’s speech will be broadcast live on EbS.

Source: Cyprus News Agency

Greek Cypriot negotiator, Menelaos Menelaou, and the special representative of the Turkish Cypriot leader, Ersin Tatar, Ergun Olgun, had, on Thursday morning, their first meeting after a short summer break. Their meetings are taking place under the UN auspices.

Today’s meeting, which lasted for about an hour, took place at Ledra Palace, and was also attended by a UN team, headed by the UNSG’s Special Representative in Cyprus, Colin Stewart.

A well-informed source told CNA that the two sides reviewed the situation “where we stand right now, as these meetings resume after the summer break,” without getting into a discussion on concrete issues.

There was a general discussion as to how we are moving forward with these meetings in order to do as much as possible under the circumstances, the source noted.

According to the same source it has not been decided when their next meeting will take place, even though it is expected that it will take place soon.

Meeting between FM and new British High Commissioner

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Meanwhile, Foreign Minister, Ioannis Kasoulides, had on Thursday morning a meeting with the new UK High Commissioner to Cyprus, Irfan Siddiq.

Siddiq said in a post on Twitter that he was delighted to meet Kasoulides and that they discussed “the wide range of areas on which we cooperate. Looking forward to working together closely to further strengthen UK-Cyprus relations,” he added.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

Source: Cyprus News Agency

NuScale Power (NuScale) announced today that it has signed a memorandum of understanding (MOU) with Fermi Energia, an Estonian energy company that is looking to adopt clean energy power sources to meet the country’s ambitious climate goals. Under the agreement, Fermi Energia will evaluate NuScale’s groundbreaking small modular reactor (SMR) design for deployment in Estonia.

In July 2019, Fermi Energia announced it would conduct a feasibility study on the deployment of SMRs in Estonia. NuScale’s design was one of the technologies chosen to be studied due to its near-term deployable timeline, strong safety case, and cost-competitiveness. Under this new MOU, NuScale will support Fermi Energia as it conducts further analysis and considers deploying a NuScale VOYGR™ SMR power plant in country to meet clean, baseload energy needs by 2031.

“Considering the geopolitics of today, this agreement builds upon the existing momentum and strong interest from the international community who are looking to NuScale’s SMR technology as the premier, flexible, and cost-competitive climate solution,” said John Hopkins, NuScale Power President and Chief Executive Officer. “NuScale looks forward to working with Fermi Energia as they evaluate how our SMRs can become a key component of Estonia’s energy future.”

“The great advantage of the new generation of small modular reactors is clearly manifested in the case of Estonia. They fit better into the electricity grid, are more flexible and economical to operate, and meet stricter safety requirements than the existing nuclear plants,” said Kalev Kallemets, Fermi Energia CEO and co-founder. “Before choosing the most suitable technology for Estonia, we will conduct a comprehensive analysis and evaluate which of the small reactors that will become market-ready in the near future best meets Estonia’s needs to produce CO2-free energy year-round, in any weather, at an affordable price.”

Estonia has committed to stop using oil shale, currently its largest source of energy, in its power plants by 2030. To replace this greenhouse gas intensive power source, Fermi Energia has advocated to utilize SMR technology to secure the country’s energy independence. By 2031, Fermi Energia envisions clean, safe, affordable, and carbon-free electricity courtesy of the next generation of nuclear energy. In a nation like Estonia, NuScale’s small, scalable design is well suited to meet the baseload energy demand and can significantly contribute to meeting climate goals.

About NuScale Power

NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.

Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power’s website or follow us on Twitter, Facebook, LinkedIn and Instagram.

About Fermi Energia

Fermi Energia is an Estonian energy company that focuses on the development and deployment of Small Modular Reactors (SMR). The company’s goal is to provide an opportunity to reach carbon neutrality with reliability and affordability to Baltic consumers. Since 2019, Fermi Energia has conducted a series of research and preliminary works, with the aim to start energy production in 2031.

Forward Looking Statements

This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. While NuScale may elect to update these forward-looking statements at some point in the future NuScale specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing NuScale’s assessments of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Source: Cyprus News Agency

The Cyprus Securities and Exchange Commission (CySEC) is closely monitoring the non-binding takeover bids of the Bank of Cyprus filed by Lone Star and is also in consultation with both the Bank of Cyprus and the Irish Takeover Panel, the President of the Cyprus Securities and Exchange Commission (CySEC) George Theocharides has told CNA.

At the same time, on the issue of the purchase of Bank of Cyprus shares by Senvest Management LLC a competent source told CNA that Senvest sees the progress made at the Bank of Cyprus and is buying the bank’s shares.

Theocharides was invited by CNA to comment on a press release by the Bank of Cyprus holdings PLC that it has rejected three voluntary, conditional, non-binding offers from Lone Star regarding a possible cash offer for the entire issued, and to be issued, share capital of the company.

The CySEC is closely monitoring the issue to find out whether the provisions of the Law on Acquisitions are being complied with, said Theocharides.

He said some issues are under the Irish Takeover Panel and other matters under the CySEC. He explained that the responsibilities of the two supervisory authorities will have to be defined.

Meanwhile, Senvest Management LLC is impressed with the progress achieved at the Bank of Cyprus and the very good prospects and is increasing its capital share in the bank in the last months, a relevant source told CNA.

Senvest has bought around three million shares in the last three months increasing its capital share to 7.79% from 7.11% in early June.

Senvest has been increasing its shareholding in the Bank of Cyprus in recent months, seeing the progress achieved at the Bank of Cyprus and the very good prospects that are opening up following the normalization of the Non-Performing Loans of the bank, as well as the profitability prospects

Senvest began investing in Cyprus around the end of 2012 in the framework f the financial crisis and its philosophy lies in long-term investments. It is one of the largest investors, if not the largest in Cyprus banks with a total of 100-million-dollar investments in the BoC and Hellenic Bank.

Source: Cyprus News Agency

In May 2022, first-time asylum applicants in the European Union increased by 17% compared to April 2022, and by 89% compared to May 2021, according to monthly asylum data published by Eurostat, the statistical office of the EU.

In absolute numbers, in May there were 63,105 first-time asylum applicants for international protection in the EU Member States, compared with 54,145 in April 2022 and 33,385 in May 2021.

In Cyprus, a total of 2,560 new asylum applications were recorded in May 2022, an increase compared with April 2022 when there were 2,030 new applications, and May 2021 when there were 1,175 new applications.

The largest number of applicants for Cyprus in May were citizens of Nigeria (460 people), Syria (420 people), the Democratic Republic of the Congo (390 people), Pakistan (265 people) and Afghanistan (240 people).

The five countries with the largest numbers of new applicants in Cyprus in April were Nigeria, DR Congo, Syria, Pakistan and Cameroon. In May 2021 they were Syria, Somalia, DR Congo, Pakistan and India.

According to Eurostat, the increase on an EU level from April to May 2022 can be attributed in part to increases in Venezuelan (from 3,655 in April to 4,820 in May; +32%) and Syrian first-time applicants (from 6,485 to 8,025; +24%).

In May 2022, Syrians were the largest group of persons seeking asylum (8,025 first-time applicants). They were followed by Afghans (7,695), ahead of Venezuelans (4,820), Colombians (3,535) and Pakistanis (2,890).

In March 2022, there was a large increase in Ukrainian first-time asylum applicants (from 2,370 in February to 12,885 in March) due to Russia’s invasion of Ukraine. However, the numbers decreased to 1,510 and 1,295 respectively in April and May 2022.

With 13,855 first-time applicants registered in May 2022, Germany accounted for 22% of all first-time applicants in the EU. Germany was followed by Spain (10,200, 16%), ahead of France (9,800, 16%), Italy (6,450, 10%) and Austria (5,645, 9%).

These five Member States together accounted for nearly three-quarters (73%) of all first-time applicants in the EU.

In May 2022, 2,635 unaccompanied minors applied for asylum for the first time in the EU Member States, up by 97% compared with May 2021 (1,335) and up 17% compared with April 2022 (2,260).

This is among the EU Member States for which data are available. Due to temporary derogations, data on unaccompanied minor asylum applicants are not available for France, Cyprus and Poland.

Most unaccompanied minors who lodged asylum applications in May 2022 came from Afghanistan (1,215), Syria (460) and Somalia (165).

Austria (770), Germany (435) and Bulgaria (320) were the three Member States that received the highest numbers of asylum applications from unaccompanied minors in May 2022.

In May 2022, there were also 6,280 subsequent applicants (people who reapplied for asylum after a decision had been taken on a previous application). This was up 20% compared with May 2021, and up 13% compared with April 2022.

Due to temporary derogations, data on subsequent applicants are not available for Denmark, Cyprus and Sweden.

Source: Cyprus News Agency

The case against four persons and their involvement in the naturalisations granted to foreign investors, exposed during a recording set up by Al Jazeera in October 2020, is to be presented before Criminal Court on September 12th.

This is what the prosecutor Elena Kleopa said before the Parliamentary Control Committee, on Thursday, regarding the progress of the cases related to the Cyprus Investment Program (CIP).

The indictment consists of five charges related to conspiracy offences to defraud the Republic, influencing a public official in violation of the law ratifying the Council of Europe Convention on the Criminalisation of Corruption.

Former President of the House of Representatives Demetris Syllouris and member of the House, Christakis Giovani, resigned after Al-Jazeera broadcast an expose in October 2020, titled ‘The Cyprus Papers – Undercover’, in which undercover reporters captured extensive evidence of government corruption related to the Citizenship by Investment program (CBI).

Source: Cyprus News Agency

The decades of no rain and drought, Cyprus had been through in the past, led the Water Development Department (WDD) to create the necessary infrastructure and make plans, in order to be able to deal “with confidence” a similar event, Director of WDD, Panayiota Hadjigeorgiou told CNA.

Asked about the current levels of dams, Hadjigeorgiou stated that from the beginning of the hydrological year, on October 1st, 2021, until August 2022, the inflow of water into the dams amounted to 153.74 million cubic meters of water, which ranks the current year as “the third best of the decade”.

She added that the current amount of water stored in dams stands at 224.635 million cubic meters, which means that they are around 77.2% full, up from 59.4% in the previous year. The amount of water stored in the dams and the alternative water sources that Cyprus has, for drinking water (through desalination) and for irrigation (using recycled water) reserves can last up to two years, she added.

Compared to other European countries experiencing unprecedented drought conditions – for which they are not ready, as they do not have the systems developed by Cyprus – the WDD Director says she feels confident that the country can face such phenomena successfully.

Asked if the Strategic Plan, developed by the WDD and approved in 2019 by the Cabinet, includes interruptions in the supply of water in the event of extreme drought, Hadjigeorgiou replied that no such thing is envisaged, although she emphasized the need to strengthen water consciousness to save water and limit unnecessary use. Reiterating that the government’s policy after the 2008 crisis, when water was transferred from Greece, is to meet 100% of drinking water needs.

In regards to the quality of the drinking water provided, she said that it meets the standards of European legislation which has been incorporated into national law. The water is checked by the state health services and the State General Laboratory, as well as by local accredited laboratories. She assured that consumers can safely consume the potable water provided.

Source: Cyprus News Agency