Preferred Choice Emerging Hub for Trade, Tourism and Business

CyprusKHALEEJ TIMES | DECEMBER 14, 2017

Preferred choice emerging hub for trade, tourism and business

SPECIAL REPORT DECEMBER 14, 2017

Editor Vaman Vassudev Kamat Supplements Editor Suchitra Steven Samuel Assistant Editor Ishtiaq Ali Mehkri Reporters Farhana Chowdhury Deepa Narwani

Senior Designers Exiting 2017 in flying colours! Mohammad Ejaz Khan 4 M A Aroos Mohamed 6 Resilient economy in Eurozone Imaging Venugopal Prabhu 7 Gateway to global connectivity Aurangzeb Mehar Baksh Murshid Baloch 8 Preferred destination in Europe Musthafa Peruvallithodi Graphic Designer 10 House of cheese Mohammed Yousufuddin 12 Culinary guide to Cypriot cuisine

Senior Vice President 1 4 Cyprus is a perfect blend of Ravi Raman flavours, all year round Financial Controller Shishir Kapadia 16 Three decades of education Advertising Director Mukhtar Qureshi excellence Assistant Advertisement Introducing students to effective Manager (Supplements) 18 Cyprus is one of the most learning methods Bilal Saeed preferred destinations for Senior Account Group Manager Debashish Shome not only tourists and 19 Gateway to global commerce Circulation Manager investors, but also for all Constance Louis Moraes those who want to make the 2 0 Maritime centre of excellence Head — Production and IT Operations European country their and quality Mohan Kumar Shetty second home. It is full of Commercial Printing Head CPO natural beauty, and an Imran Shariff Assistant HR Business Partner ultimate transit point for Aditi Sharma navigation through the Manager — Brand and Mediterranean. Its industrial Audience Development profile is encouraging and Tina Malhotra has become a hub for quality education and culinary Dubai Head Office excellence in the region. Its P.O. Box 11243 Tel: +971 4 3383535 economy is poised for robust Fax: +971 4 3383345/46 growth as it consolidates its Website: www.khaleejtimes.com credit rating. At the crossroads of Europe, Asia Abu Dhabi P.O. Box 3082 Tel: +971 2 6337666 and Africa, Cyprus boasts an Fax: +971 2 6351122 E-mail: [email protected] ancient civilisation, which makes it the centre of gravity A Publication of for all those interested in Galadari Printing & Publishing LLC history and cultural diversity.

KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 3 Cyprus Exiting 2017 in flying coloUrs! Cyprus is viewing the future with unprecedented optimism

❖❖ Vasilis Polemitis

yprus’s economic performance throughout 2017 has been nothing less than exemplary. The annual rate Cof GDP growth will average close to 4 per cent, and unemployment is rapidly receding with the labour market showing its His Highness Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler potential to approach conditions of perfect of Fujairah, with Vasilis Polemitis, Ambassador of the Republic of Cyprus. — Wam employment within the short to medium time frame. Capitalising on a series of pru- dent fiscal policies and reform measures that markets and opens up new ones, utilising, to transcended domestic politics, and actively this extent, the existing network of air trans- taking advantage of the favourable macro- port connections through the UAE and the economic environment, Cyprus manages to rest of the Gulf. In addition, newly estab- close the current year in conditions of mod- lished Cypriot airlines are actively pursuing erate to low inflation, and with the public their plans to connect Cyprus and the UAE, budget balance as a percentage of GDP on the and the rest of the Gulf, with several distant positive. In short, the Cyprus turn around, destinations, thus offering the opportunity on which this column was devoted last year, to even greater numbers of travellers to has been completed successfully. visit Cyprus. Currently, Cyprus is viewing the future People-to-people contacts, such as those with unprecedented optimism since a cultivated through tourism, cultural number of major multimillion dollar projects exchanges and international business, were are underway, and the trickle-down effect one of the embassy’s main objectives for on the entire spectrum of economic activity 2017. In 2017 we saw record numbers of is becoming more evident by the day. New participants from Cyprus in the major trade businesses are registered, new operations are fairs in the UAE, which in turn led to a number launched in the key maritime, tourism and of Cypriot products and businesses enhancing financial services fields, and massive their foothold in the UAE market. On the landmark real-estate and infrastructure cultural front, the Embassy was happy to works are under construction with more assist a group of university students from entering the pipeline continuously. Within Paris Sorbonne Abu Dhabi to organise a this promising environment, more people successful field trip to Cyprus. Furthermore, choose to make Cyprus their business base, the pivotal regional role played by the UAE and second home, taking advantage of the Vasilis Polemitis is the Ambassador of the in commerce, politics and culture, and the stable conditions, good and transparent Republic of Cyprus to the UAE. equivalent role that Cyprus increasingly governance, and first-rate social, health and plays in the East Mediterranean, through a education services. series of trilateral frameworks with all of Cyprus attracted more than 3.5 million this is in no way a small feat, Cyprus fully its neighbours willing to adhere to the visitors in 2017, thus breaking the previous understands that Blue Flag beaches in and same principles of peaceful cooperation, record year of 2016. This performance comes by themselves are not enough. As a result, provides an additional avenue of positive as no surprise since Cyprus hosts the most Cyprus continues to invest in value-added activity between our friendly countries for Blue Flags per capita in the world. Although projects and facilities, works with current the future.

4 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017

Cyprus Resilient economy in Eurozone

Investment, tourism and merchant shipping are buoying growth for the island-nation state

❖❖ Ishtiaq Ali Mehkri and last year it successfully completed the of its cultural diversity. Tourism, of late, has yprus has a high-income economy, and ESM-IMF Economic Adjustment Programme, become one of the major foreign exchange despite somersaults after the recent a year ahead of schedule. sources for the economy. Crecessionary trends is counted among The country’s financial discipline, far- Cyprus is gradually emerging as the hub for the most promising growth modules in the sighted strategy and resilience have made it investments, especially in the Eurozone, owing region. It is also the emerging destination for hub for investment and businesses. While to its liberal policies and investor-friendly leg- businesses and investment at the crossroads unemployment is around 10 per cent, and islation. Foreign investment — and ownership of Asia, Europe and Africa. With a per capita the country’s external debt is accumulating, stakes — is permissible up to 100 per cent in income of around $23,400 and a GDP of $19 the positive side of the story is that it is over- many sectors, as the government acts as cus- billion, it is a success story in itself. The present coming stagnation. Institutional reforms, on todian in mediatory affairs. So is its tax regime, growth rate is projected at 2.8 per cent, and which Cyprus has embarked, are sine qua non considered as one of the lowest in the EU. Cy- the International Monetary Fund has included for success, and to keep the international prus has treaties on double taxation with doz- Cyprus in the list of advanced economies. community engaged in its progress. ens of countries, and, as a member of the Eu- The country’s industrial format and inno- Real estate and tourism are two of the tan- rozone, has no exchange restrictions, and vations in the fields of science and technol- gible sectors of its economy, which has at- investors are free to move their profit proceeds ogy act as a magnet for big-ticket projects. tracted worldwide attention. Cyprus quest out of the country at ease. Despite differences Its market economy is dominated by the ser- to grant citizenship to promising investors with Turkey, both the neighbours have a har- vices sector, which accounts for more than has led to massive inflow of capital, and monious trade relationship with Ankara sup- four-fifths of GDP. Tourism, financial ser- people from all walks of life are eager to make plying 55 per cent of imports and absorbing vices, shipping, and real estate are some of Cyprus their second home, and grab the ben- 48 per cent of exports. the most important sectors, and in the last efits of living in the European Union. Also The success story of Cyprus will be incom- two decades have done a roaring business. popularly known as ‘cash for passports’ plete without mentioning the merchant ship- Cyprus-based entrepreneurs’ and industri- scheme, it has led to boost in construction ping. It is one of the largest flagship careers, alists are quite popular in the European Union and real estate. Moreover, the competitive and berths vessels from all over the world. and beyond, and products made in the island- education sector has acted as a catalyst in Maritime business in the region is routed state have a competitive mark of their own. seeking students for higher education, by through Cyprus waters and ports, and its time Cyprus has a broad market for all kinds of pro- granting them degrees and diplomas that are zone and geographical proximity are high in duce from food and beverages to cement, iron recognised worldwide. demand. ore, light and heavy-duty industry products. The island is considered as the perfect The European Commission, which also acts Its chemical, electrical and non-organic sector holiday destination for a diversity of tastes as a watchdog for Cyprus after pumping in is rated as some of the most sophisticated in and interests. The southern-most island in the billions of dollars, has posted a very positive the world. Eastern Mediterranean offers year-round sun- picture of its economy. It says growth has The island-nation state is set to embark on shine, and is famous for its state-of-the-art exceeded expectations in recent quarters, and a new era of sustainable economic growth, as tourism facilities. It annually attracts more is expected to ‘remain robust’ in the next the country has won the confidence of inter- than three million visitors from Asia and couple of years. It has forecasted a growth national donors and stood fast in times of neighbouring European states, as it proudly rate of 3.5 per cent with unemployment and extreme financial crunch. It has come a long boasts its blue water sandy beaches, pine- inflation taking a nosedive. With macroeco- way since it bagged a lifeline of $13 billion forested mountains, picturesque villages and nomic stability taking roots, Cyprus has a role bailout in 2013, and successfully merged its a history dating back 10,000 years. Tourists to play as Europe’s next growth engine. banks and other financial entities. Since then from Japan and South America take a special there has been no looking back for Nicosia, interest in its archeological sites, and are fond — [email protected]

6 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 Cyprus Gateway to global connectivity Cyta is a satellite hub for the Mediterranean region and beyond

yta is the dominant telecommunications Supporting the international market ity to most broadcasting and contribution provider in Cyprus and its product port- With the rapid development of a global fibre satellites covering the region. The content is Cfolio covers the whole spectrum of elec- network, attention has shifted from interna- transcoded as needed and is fed to local and tronic communications, ranging from fixed tional telephony to services supporting the international nodes for distribution to the and mobile telephony to Internet service pro- international telecommunications market. customers, while it is actively monitored on vision and broadband applications. Today, one of the core products offered at a 24-hour basis. Cyta, through its strategic business unit Cyta’s satellite teleports is gateway services Cytaglobal, is particularly active in the area of to modern broadband satellites, bundled TV turnaround services subsea cable systems and satellite communi- with international fibre connectivity. This IRIS, a wholly-owned subsidiary company cations, providing wholesale products and makes it possible to establish large gateways of Cyta, provides TV turnaround services, services on a global basis. Taking advantage to High Throughput Satellites (HTS) that of- including satellite broadcasting on multiple of the island’s strategic geographical position, fer broadband services in selected regions satellites covering Europe, the Middle East Cytaglobal has developed an extensive under- around the globe. and Asia. IRIS also offers occasional services sea fibre optic cable network, which connects for video turnaround of special events Cyprus with its neighbouring countries in the Hosting and support services around the globe. The subsidiary company eastern Mediterranean, and thereafter with Cyta offers dedicated secure areas with full provides dedicated satellite links for broad- the rest of the world. facilities and regulated access for business casting and distribution, as well as hybrid In addition to its extensive subsea cable partners to install and operate their own solutions with a combination of fibre and network, Cyta has been active for years in equipment. Full operational support is pro- satellite means. satellite communications and provides links vided and customers are offered the option Cyprus provides an ideal geographical loca- and associated support services to major in- for remote operations and monitoring. Cyta tion with optimal conditions for satellite com- ternational customers. Cyta operates more offers support services to satellite operators munications. Cyta has the necessary tools to than 35 major satellite earth stations to pro- to ensure the health of the satellite fleet, en- bring together fibre and satellite products and vide access to global satellite providers, such force compliance of the customers to the offer integrated solutions. as EUTELSAT, INTELSAT, SES, AVANTI and terms of their leases, verify the quality of sat- Cyta possesses a set of important capabili- ASIASAT. Cyta has established three satellite ellite transmissions and identify sources of ties that make it an attractive partner to the teleport sites named MAKARIOS, ERMIS and unauthorised transmissions. prospective customer. These include exten- PERA that enhance the resilience and diver- sive experience in the provision of interna- sity of its operations. All its services enjoy VSAT links tional telecommunications products, a mod- professional certifications and comply with VSAT links enable instant connectivity to re- ern fibre network with international all relevant international standards. mote regions around the globe and offer mod- points-of-presence (POPs) and dedicated tele- The services offered via Cyta’s satellite ern communications solutions. Cyta offers port facilities for satellite access. Cyta enjoys teleports include a broad collection of prod- VSAT reliable services and field support in as- a solid reputation of providing reliable qual- ucts, ranging from satellite television to sociation with specialised partners. ity services to its customers. broadband gateway services, satellite control Cyta’s capabilities have been subject to ex- and monitoring services, data and Internet TV content collection ternal reviews by major satellite operators, connectivity. The satellite teleports also offer Cyta’s teleport facilities also serve as satellite specialised service providers and industry VSAT services, hosting services to third par- content collection nodes for its own IP-TV partners. MAKARIOS Teleport has been in- ties and serve as a video head-end for Cyta’s Cytavision service and its wholesale custom- cluded in the Teleport Partner Network of the IP-TV product in the Cyprus market and ers. This includes reception of hundreds of global satellite operator, EUTELSAT, and has other global wholesale customers. TV channels from numerous satellites using successfully completed certification by the a large antenna farm that can provide visibil- World Teleport Association.

KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 7 Cyprus

CITIZENSHIP BY INVESTMENT PROGRAMME : Under this programme, the applicant, his spouse and children under 28 can become Cypriot Citizen and obtain a European Union passport, provided they invest at least 2,000,000 Euros in real estates in Cyprus. These investments must be maintained for three years, after which they can be sold freely in the market, with the exception of one residence, which must worth over 500,000 Euros. Citizenship is granted within three months from the day of application.

CONDITIONS for CITIZENSHIP Preferred destination Clean Criminal Record: Certificate of Clean Criminal Record from the country of origin and the country of in Europe residence (if different). Opening a local bank account: Part of our service is to help investors open Nicolaou Estates’ eases a bank account in Cyprus so that funds can investment and residency be transferred for this transaction. The source of funds will need to be properly in Cyprus explained to the bank.

Approval of application: icolaou Estates is a licensed estate agent The applicants need to be present in Cyprus based in Cyprus with focus on citizen- (a) when they apply for an interview, (b) when their citizenship is approved in order ship by investment in real estate. The N to collect documents. The applicants company was established in 2004, with of- become EU citizens, and can live and work fices in the capital city of Cyprus, Nicosia (at anywhere in the EU. It is not necessary to Hilton Cyprus Hotel) and on the desirable and live in Cyprus in order to become a citizen. cosmopolitan sea front city of Limassol. The real estate market in Cyprus is very vibrant, Panicos Nicolaou, Director Person included in application: Husband and wife are included in the with investors from all over the world buying, application, as well as children under the especially in the last three years. What type of properties do people age of 28, provided they are at university. invest in? If the applicant wishes to make application Why are Investors buying in Cyprus? Nicolaou Estates proposes properties that for their parents as well, they need to invest Cyprus is a full member of the European Union can easily be rented and which are expected an additional €500,000. since 2004 and has adopted the Euro as its to appreciate in value. Given the growing currency in 2008. Most investors are citizens demand, capital appreciation is expected PERMANENT RESIDENCE PROGRAMME: of non-EU countries who are interested in from 5% to 10% per year over the next three Under this programme, the applicant, his securing a better future for themselves and years. The company focuses on properties spouse and children under 25 can obtain a especially for their children in Europe. In near the Universities in Nicosia, which are permanent residency visa in Cyprus, pro- Cyprus English is spoken by everyone, so always in high demand for rent by students vided they invest at least 300,000 Euros in communication is easy. It has an excellent and on apartments, or houses near the residential properties in Cyprus. The perma- education system, with several UK universities sea front of Limassol, which are in high nent residence visa is granted within three represented in Cyprus. Crime rate is almost demand by professionals who have relocated months from the day of application. non-existent and climate is mild both in to work in Cyprus. summer and winter. For further information and a free Which Investment programmes are consultation, please email us on Where is Cyprus located? recommended? [email protected] or reach us Cyprus is located at a crossroad between Cyprus offers two great investment through WhatsApp on +35799119922. We Europe and Asia. It is a short four-hour flight programmes, which are very straight forward are happy to answer all your questions and to either France or the UAE and a one-hour without unnecessary bureaucratic arrange to meet with you either in Cyprus or flight to Cairo or Athens. procedures: in the UAE.

8 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017

Cyprus House of cheese

Middle East. The retail and HoReCa sector are supplied under its own brand label, its customers' own label and the supermarkets' pri- Our Awards vate label. Its products can be found worldwide in the most reputable and well-known chains of supermarkets. The factory upholds the highest production and hygiene standards, is regularly audited and has the following cer- Papouis Dairies is a brand to tifications: ISO 22000:2005, BRC and IFS. In 2015, Papouis Dairies was awarded the be reckoned with and has Silver Award for its excellence in quality by top of the range products The International Cheese Awards. In 2016, Papouis Dairies was once again awarded the Silver Award for its excellence in quality by apouis Dairies was established in 1967 The International Cheese Awards. In 2017, as a family-run business in the village it bagged both the Silver and Bronze Awards P of Athienou, Cyprus, and uses tradi- for its excellence in quality by the Interna- tional methods of producing halloumi and tional Cheese Awards. anari cheese. In 2006, the family founded a limited company under the name, ‘Papouis Our Certifications Dairies Ltd’. Located in Athienou Industrial EnjoyArea, with up-to-date our and modem halloumi machinery, the new dairy was built in accordance with the EU regulations, covering 1,500m2. This enabledfresh, the company togrilled meet the stan- or fried. dards of ISO and HACCP. In 2012, Papouis Dairies was sold to the Pancyprian Organisation of Cattle Farmers Public Ltd (P.O.C.F Ltd). The new owners invested in extending the dairy, which now covers 4,500m2, is equipped with hi-tech machinery, as well as being staffed by trained personnel. Following these improvements, the company now has the ability to produce 6,500 tonnes annually of halloumi and 400 tonnes of anari and ricotta. The factory exports to over 30 countries, mainly in Europe, U.S., Australia and the

10 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017

Cyprus Culinary guide to Cypriot cuisine

The dishes are prepared from fresh products with lots of vegetables, delicious dips and marinated meats

❖❖ Deepa Narwani

editerranean cuisine is known to be one of the healthiest in the world. Re- as well as healthy. Herbs such as mint, pars- mades (similar to the Emirati luqaimat), small Msearch has found that a Mediterranean ley, dill, cumin, and cinnamon, among oth- doughnuts served with honey and kalo pra- diet improves longevity and goes a long way ers, are lavishly used. ma, a semolina cake. Tahinopita, a cake fla- in preventing obesity and high blood pressure. The cooking methods include baking, roast- voured with sesame paste, and anari cheese, The diet includes a combination of locally ing, grilling and deep-frying, all with copious with its mild sweet creamy taste and drizzled available fresh ingredients such as grains and amounts of olive oil. A traditional method of with honey, are also much loved. A spoon of pulses, fruits, vegetables, herbs, lean meat, cooking involves roasting meat and vegeta- glyko, a preserved fruit in syrup is customar- seafood and olive oil. bles over coals or sealed in an oven. Barbecue ily offered with coffee or a glass of water. Cypriot delicacies form an integral part of dishes are an integral part of the cuisine and The unforgettable taste and variety of dish- Mediterranean cuisine thanks to its strategic popular meat dishes include souvlaki (skewers es are tempting enough to give the country a location at the intersection of Europe and the of chicken or lamb) and sheftalia (barbecued top spot on your upcoming travel itinerary! Middle East. Every table on the island includes lamb dish served with pita bread). several types of cheese, olives, bread, and fish A breakfast would typically comprise fresh – [email protected] fresh from the sea and succulent meats. bread, olives and cheese, along with toma- The menu boasts a number of dishes that toes and cucumber. Snacks include a variety offer local twists made on traditional dishes of dips such as hummus, and tzatziki (yo- from neighbouring Greece, Lebanon and Tur- ghurt with cucumber, mint and garlic) and key. The art of grilling and use of ingredients are consumed with pita bread. Street food such as parsley, garlic and yoghurt, came to includes decadent meals such as tiropita Cyprus from these countries. However, Cy- (cheese pies) and spanakopita (spinach pies). priot dishes have their own distinguishing Some of the other staples include moussaka, characteristics that set them apart. a traditional dish of minced meat and egg- The meals are prepared from fresh prod- plant topped with béchamel sauce and pas- ucts with lots of vegetables, delicious dips titsio, a baked pasta dish. and marinated meats that are seasoned with One way to sample different authentic light spices, which make them flavoursome dishes all at once is by tasting mezedes at the many authentic tavernas (restaurants) across the country. Similar to meze served in Leba- The home of halloumi nese restaurants, mezedes is an assortment of Halloumi cheese originated from Cyprus around 20 appetisers and includes the cho- and has become a popular snack all riatiki salad with feta cheese and peppers, as around the world. The cheese is unique, well as hot meat and fish dishes. Some of as it does not melt when cooked. The these include cracked green olives with cori- semi-hard, un-ripened, brined cheese is made from a mixture of goat, sheep and ander seeds, koupepia, (stuffed vine leaves sometimes cow’s milk, and mint. The with minced meat and rice), taramosalata cheese has a high melting point and can (fish roe dip), grilled halloumi cheese, and easily be fried or grilled. The texture is kleftiko (lamb baked in a clay furnace). The similar to mozzarella and has a salty flavour. The cheese is widely used as an plates are small, but the variety makes sure independent dish as well as in salads. It you have a fulfilling meal. The locals are is also often served with vegetables, known to relish the mezedes siga siga (slowly) seafood or sausages. Grilled halloumi is crispy on the outside and chewy on the and don’t like to rush. inside and makes for a great appetiser. The desserts are indulgent and include a When hot, it goes well with watermelon number of jams, cakes and pastries that prom- and makes for a great teatime snack inently feature honey, fruits, and nuts as in- when paired with honey and nuts. gredients. Local favourites include loukou-

12 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 Cyprus

Standout dishes to try

in fresh vine leaves. It is served cold and can be consumed as part of the meze, a salad or can be eaten as a main dish.

method dates back centuries when the meat Moussaka would be cooked for several hours in a hole It is a baked lamb and eggplant casserole in the ground, sealed with mud. covered with a thick layer of béchamel sauce and grated cheese that becomes crusty when baked. It can be made with other Souvlaki ingredients such as beef, zucchini or The dish is often referred to as ‘healthy fast potatoes. The Cypriot version sometimes food’. It is made of pieces of chicken passed uses anari or halloumi cheese, with cinna- on a wooden skewer, which is grilled. It is mon sprinkled on top. The dish is decadent served with pita bread, cucumber, tomatoes, but delicious! parsley, onions, and dips such as tzatziki or yoghurt. Slices of lemon are always served Koupepia with the dish, as they are with all meats in The filing is made the country. Loukoumades of minced meat, These are made by deep frying dough balls, rice, onions, Kleftiko soaking them in honey and then coating them tomatoes, A leg of lamb is sealed and roasted slowly with crushed nuts or sesame seeds. The cinnamon and a along with garlic, lemon and herbs, and dessert has a light and spongy texture, crispy mixture of herbs, potatoes to create this succulent dish. on the outside, gooey on the inside, making it which is wrapped Kleftiko means ‘stolen’ and the cooking the perfect sweet treat to end a meal.

New Sevegep was established in 1972 as a cooperative company, at the Morfou plain, Cyprus’ biggest citrus growing area pioneering in the production and export of Fruit Juices, Juice Concentrates and related by-products. Through commitment, hard work and innovation the Company progressed from a local cooperative fruit juice producer to an international player in the juice industry. New Sevegep operates at modern processing facilities, utilising cutting edge machinery equipment from Tetra Pak and highly trained personnel ensuring the highest quality and safety of its juice products. Our Company is ISO22000:2005, HACCP and Halal certified while we undergo the AIB audit on a yearly basis. Today New Sevegep is a Cypriot firm that looks to the world with exports to more than 70 countries in Europe, Middle East, Asia, Africa and the Americas. International recognition and the progressive growth of New Sevegep’s markets at world level prove its great capacity to discover and interpret the market’s needs.

45 Troodos Avenue, CY 2722 Astromeritis, Cyprus P.O.Box: 24851, CY 1304 Nicosia, Cyprus Tel: +357 22821121, Fax: +357 22823442, e-mail: [email protected] www.new-sevegep.com.cy Cyprus Cyprus is a perfect blend of flavours, all year round

The Mediterranean island yprus is a mosaic of nature and Summer provides the opportunity for is the perfect holiday culture, a whole magic world families to make the most of the beautiful concentrated in a small warm and beaches and warm sea. There is a wide destination in any season, Chospitable island in the Mediter- range of water sports on offer as well as and less than four hours ranean Sea. It is located at the crossroad of theme water parks for all to enjoy. During away from the GCC three continents between East and West, the warm summer evenings you can offering a multidimensional qualitative experience the delights of eating al fresco tourist experience. at one of the many delightful restaurants. The island has established itself as a Autumn in Cyprus is still warm enough quality destination with constant invest- to enjoy a late summer holiday as the sea is ment in tourism, welcoming 3.19 million still warm. The climate is also perfect for visitors in 2016. This year has been another exploring the island by car and visiting year of top results for Cyprus’ tourism. some of the interesting historical and Overall, arrivals have already surpassed the cultural sites, with a backdrop of the 3.4 million mark during the first 10 months. beautiful changing colours of autumn. An island of contrasts, Cyprus has a long Visitors can enjoy a jeep safari to see places history and rich culture that spans more off the beaten track or try their hand at than 10,000 years, offering visitors an sub-aqua activities. engaging and authentic experience, Winter is the season for those who enjoy matched with iconic ancient ruins and sites tranquillity and want to take things at their scattered across its vast and awe-inspiring own pace. As Cyprus is located in the landscape. With an idyllic coastline, it southern-most part of the Mediterranean, provides numerous luxury resorts, hidden temperatures drop no lower than 15 coves, golden sandy beaches, and beautiful degree Celsius in December and January. blue-flagged shores. Venturing in-land, the Hotels in Cyprus maintain high standards; island’s ancient pine-forested mountains in fact, some of the best hotels in the and picturesque villages celebrate ancient region can be found in the country. Visitors traditions, encapsulating legends and can expect a high level of quality and history within their rituals and culinary service with most offering great facilities delights. Ranging from pure rest and such as indoor swimming pools, spas, relaxation, mountains walks, exploring the health and beauty treatments and many cultural attractions, playing golf, entertainment programmes. diving or bird watching, Cyprus is a perfect The unique advantage of Cyprus is its blend of flavours for a diversity of tastes compact size, which offers a variety of and interests. experiences within easy reach. There is a Spring is an ideal time to visit Cyprus if wide range of special interest activities to you like to play golf or take a walk in the cater to every taste, and the friendliness Troodos Mountains in the centre of the and hospitality of the Cypriots enhances island, or explore the Akamas Peninsula in the holiday experience for visitors. the west or Cape Greco to the east. It is also a time for watching the migration of New developments: The Cyprus tourism flamingos from Africa to Europe and to see industry has become more competitive and the unique flora and fauna of Cyprus — a number of infrastructure projects in there are more than 1,700 flower species. tourism resorts have improved the overall

14 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 Cyprus look and feel. Major projects are on the pipeline such as the Agia Napa Marina and the Paphos Marina. In addition, a theme style casino resort will be developed in the next three years in the west of Limassol.

Nature: The environment has lent itself to the creation of a number of nature trails and cycling routes. Seven beverage routes have been developed in partnership with the EU to promote the island's long tradition of ancient civilisations such as indigenous beverage production. In addition, the Roman root vegetables or old Phoenician Cyprus Sustainable Tourism Initiative, set delicacies. And it is no secret that the up in conjunction with the Travel Founda- 'Mediterranean diet' is considered to be one tion, has organised a series of six village of the healthiest, thanks to its abundance of routes to encourage visitors to 'Discover the heart-healthy olive oil, pulses, lean meat, real Cyprus' and promote the protection of local herbs and freshly grown fruits and the environment so that future holiday- vegetables. Add to this the favourable makers can continue to enjoy the island. climate — that gives the fresh produce its intense flavour — and a celebration around Skiing: Skiing is probably not something every corner, complete with special treats, that you associate Cyprus with, but believe and you will find that a big gastronomic it or not, during the winter the Troodos Conferences: Cyprus has gained a adventure awaits on this tiny island. Mountains are a popular destination for reputation as a first-class meetings those looking for some snow-filled fun. destination. Hotels are constantly being Sports: There is no better incentive than There’s usually enough snowfall from late upgraded to maintain high standards. The practising and preparing for a sport you December to March, and even if you’re not Filoxenia Conference Centre in Nicosia has love on an island where pleasant climate into winter sports, it’s worth spending time been refurbished with a capacity for 800 combines with beautiful Mediterranean in the mountains to enjoy the beautiful delegates, and boasts a modern media surroundings and first-rate amenities. The landscapes. The whole place turns into a centre. Professional destination manage- most attractive reasons for choosing the winter wonderland! ment companies (DMCs) are on hand to island is indeed its almost-guaranteed daily assist with every aspect of an organisation's sunshine, mild winter temperatures and Diving: Enthusiasts can enjoy spectacular needs - from meetings to events. minimal rainfall, and this is further sea caves and tunnels, a dazzling array of enhanced and complemented by a host of marine life, and the Zenobia, one of the top Gastronomy: The ritual of sharing good, other benefits; state-of-the-art training 10 wreck sites in the world. New sites, fresh local cuisine is an important part of facilities, sports medicine, accommodation recently created, offer more choice for the island's culture, and is intrinsically for all budgets, professional support, easy divers to explore the marine life and wrecks linked with every social event, from family access, a reliable communications and of the island. gatherings and special occasions, each telecommunications network, and an marked with its own distinct delicacies and enviable standard of living. Golf: The island boasts four first-class, recipes. From hearty meat dishes and 18-hole golf courses in the Paphos region speciality cheeses to unique desserts of Wellness: Combining the allure of a and its mild year-round climate makes it an carob and grape, the Cypriot cuisine is an sunshine island with first-rate healthcare ideal golf destination, even during the exotic blend of Greek and Middle Eastern facilities and attractive fees, Cyprus is fast winter months. cultures, sprinkled with remnants of becoming a favoured option for medical and wellness tourism. With relaxing surroundings that are conducive to healing, it is no wonder that an increasing number of people choose the island for treatments and relaxation. The island is home to luxury spa resorts and rural retreats, where comfort and nature harmoniously inter- twine with health.

Weddings: Cyprus is one of Europe's leading destinations for weddings, blessings and honeymoons, and is famed for its wonderful climate, beautiful scenery and myriad options for venues, ceremonies and celebrations.

KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 15 Cyprus

Three decades of education excellence

The European ERASMUS ited or lived for a while. On many occasions, is now over 4.5 mil- Mobility Programme they also become friendly ambassadors. lion. The culture is dif- In the ERASMUS Congress and Exhibition ferent now, as we have celebrates 30 years of (ERACON 2017) organised by the European many new technolo- quality learning and training Association of ERASMUS Coordinators in gies and social media. Maribor, Slovenia from May 9 to 13 this year, Communication has some interesting and useful practices for the become easier and ERASMUS mobility programme were pre- faster, and this makes everything easier. Stu- sented and discussed, including results from dents do not become homesick easily anymore By Gregoris A. different actions of ERASMUS+. During the because of these digital communication tech- Makrides event, the European Association of ERASMUS nologies, and the ERASMUS programme has Coordinators together with 300-plus partici- been the only opportunity for some students pants celebrated the 30-year anniversary of to study abroad. ERASMUS (1987-2017). Participants had the I am sure that the European Commission chance to discover new partners and develop will continue the ERASMUS programme in the new cooperation prospects. The participation programming period 2021-2027, as I cannot he ERASMUS mobility programme of of non-EU institutions started to grow from imagine discontinuing this very successful ERASMUS+ categorised under KA1 is this year, increasing the number of repre- and useful programme. Whatever it is named Tthe oldest programme name since 1987 sented countries to 37. in the post-2020 period, it does not matter and its success passed its name to the all Key It should be noted that the ERASMUS+ anymore; what is matters is the set of actions Actions programme ERASMUS+ in 2014. Be- Programme is financed by the European and funding programmes that it provides and sides having multiple importance, its main Union through three main key actions: the the opportunity for growth and development characteristic is that it allowed the study and KA1, KA2 and KA3. of the people involved in education. Educa- internship mobility of university students in The KA1 mainly covers the credit learning tion is the future of Europe and the future for Europe and beyond since 2015, by launching mobility of students, mobility of teachers and the world, so any systematic support like what ERASMUS International. It also allowed the staff, grants for joint Master Programme and ERASMUS+ provides can only bring good to mobility of university professors and staff for the Master Student Loan Guarantee. The KA2 the societies of the world. teaching and training. covers projects under the Strategic Partnership The experience of students studying abroad with priorities covering the full phase of educa- Dr. Gregoris A. Makrides is a Professor of goes beyond the study action itself. It is an tion and training, the Knowledge and Sector Mathematics; President of the European opportunity to become more international, Skills Alliances and some other bilateral pro- Association of ERASMUS Coordinators; linguistically skilled, independent, and cul- grammes. The KA3 covers the Policy Support President of the European Association of turally aware of the histories and societies of and different priority areas. Every year, for all Career Guidance; President of the Mathemat- neighbouring European countries. It facili- these actions, there are calls for proposals that ical Society of South-Eastern Europe; tates the development of communication undergo competitive assessment for funding. President of the Cyprus Mathematical skills, skills for problem-solving, and much Every call may have different rules explained Society; President of the THALES Founda- more. This should be of obvious benefit to in the ERASMUS+ Programme Guidelines. The tion; and CEO of PROGNOSIS. Europe, to European countries and societies, total budget for the seven years period 2014- as well as for non-European countries that are 2020 for ERASMUS+ programme is more than For more information, contact: now participating. Erasmus students who 15 billion euro. [email protected] and return home after studying abroad tend to The number of students who have partici- [email protected] or visit: maintain ties to the countries they have vis- pated in the ERASMUS mobility programmes www.eaecnet.com and www.eracon.info

16 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017

Cyprus

Le-MATH: Learning mathematics through new communication factors (project 2012-2014) www.le-math.eu and www.euromath.org

Introducing This methods uses theatre and ideas from the well-known TV game X-Factor to motivate pupils to participate in MATH-Theatre activities and in the so called MATH-Factor competition. In the MATHe- students to atre, one can see the use of communication skills mixed with cooperative learning to discuss through theatre mathematical ideas and knowledge that both actors and audience can understand and enjoy. effective learning The MATHFactor requires a pupil to explain mathematics knowledge in an attractive and sometimes funny approach to be understood by non-expert audience. Today, this is done in a competition form with jury and audience in an international playground, the EUROMATH annual pupil’s conference methods (www.euromath.org) targets ages nine to 18. One should remember that when a teacher enters a classroom they have to do one simple praxis — transfer new knowledge to non-experts — therefore Cyprus Mathematical Society they need to have excellent communications skills to do this. and experts utilise interesting MATH-Debate: The Voice of Students — Searching excellence in approaches to instil math math education through increasing the motivation for learning knowledge in students (2016-2018) http://mathdebate.eu/

Students’ attitudes towards mathematics are not at the optimum level. In this project, the idea is to let them approach it with a choice of teaching method they prefer, making them major actors of the learning process. In addition, this project uses the debate approach between students on mathematics problems and ICT methodology, so that students’ mathematical skills and their abilities to solve practical problems improve. The project promotes an excellent opportunity for making arguments By Professor Gregoris between minds, criticising different opinions on some topic, all of it with one goal – achieving improved A. Makrides students’ skills and motivation in the learning of mathematics.

MATH-Labyrinth: Increasing the level of knowledge through solving mathematical problems (project 2015-2017) http://www.math-labyrinth.eu/

t is well known nowadays that the This project developed new methodologies in learning and teaching mathematics to students of ages 14 to 18, which can be used in any school environment. The aim was the development of methodology teaching of mathematics, and most in teaching and learning mathematics with the creation of an interactive book that can be used by subjects, continue to follow the same teachers and pupils. The interactive guidebook comprises mathematics that is relevant and applicable Iformat for the last 100 years or more. to everyday situations. It is developed to enhance the brain’s ability to visualise and transform When one views a photo of a classroom knowledge into a solution of a real-life problem. Almost all problems developed and presented in the 100 years back and a photo of today’s class, portal are word problems. Word problems are found to be very important to develop analytical skills for pupils, and at the same time, improve the skill of understanding languages. The name Labyrinth the only difference may be the colour. refers to the complexity of providing solutions. In order to solve a problem, several operations are The challenges for teachers to keep up required and students need to go back and forth through all the acquired knowledge they have during the interest of pupils in the learning process their education. is increasing, as students nowadays have access to learning resources through new MATHGAMES - Games and mathematics in education for adults technologies and media, which in most (2005-2018) cases make today’s teaching and learning www.math-games.eu environment look primitive in comparison. One could try to discover the best method This project developed a Compendium (a set of traditional games that require use of for teaching pupils by watching what they basic mathematics), a Guidebook with lesson plans that can be used by adult trainer for training adults and a Course for Numeracy Learning Methods Based on Games to be offered as a European course. do after they depart from the school every The Compendium and the Guidebook is published in nine languages, which should give the answer to day until the time they go to bed. Teachers two main questions, while raising numeracy in education: need to adapt to the ways pupils like to 1. How can we reduce the number of underskilled adults to promote social integration and learn and escape from the traditional participation into our society? approaches. In other words, teaching –– How can we increase incentives for adult training by using games? –– How can we offer tailored learning opportunities to individual learners by using games? methods have to compete with what pupils –– How can we provide information on access to the services of adult learning? enjoy outside the classroom environment. In the sections below I chose to present 2. How can we save traditional and famous games in different countries from disappearing over time? four different approaches in learning and a challenge for teachers to apply them in teaching mathematics at different ages — from primary education to adult learners. approach in teaching and learning Professor Gregoris A. Makrides is the Each section describes a completed or mathematics that is considered innovative. President of the Cyprus Mathematical ongoing project co-funded by the European The project websites are shown for those Society, President of the THALES Foundation Union under the programme ERASMUS+. who like to discover more. The approaches of Cyprus, and President of the Mathematical Each project is producing a new method/ can be used in all sciences. Society of South-Eastern Europe.

18 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 Cyprus Gateway to global commerce Exports 2016 share %

Cyprus is the hub for EU 51,4% services, quality UK 22,5% education and Russia 17,2% merchant shipping in Germany 10,7% the region USA 6,5% yprus and the Arab world Other 43,1% have always shared strong Ctrade links. The GCC region most important trading partner civil engineering, market re- tering activities, aiming to export is an important trading partner for Cyprus in services among the search, medical, printing and to European or African markets. for Cyprus. Domestic exports of GCC countries, followed by Sau- publishing, public relations, edu- Since becoming a full member goods from Cyprus to the GCC di Arabia. cation, software development, of the EU in 2004, Cyprus has en- increased marginally, whereas Services is the most important tourism and related services. hanced its position as a reputable total imports of goods increased sector of the economy of Cyprus There is an enormous potential international financial and busi- from €52m in 2015 to €93m in and continues to show rapid for Arab entrepreneurs to use the ness centre. Bolstered by a highly 2016. Whereas, the total re- growth every year. The services strategic location of Cyprus as a skilled workforce, Cyprus has exports of goods from Cyprus sector includes banking and fi- platform for companies focusing plenty of supply of qualified pro- stood at €1.8 billion in 2016. nancial services, insurance, ad- on warehouse and logistics ser- fessionals with extensive experi- In 2016, imports from the UAE vertising, legal, architecture and vices, distribution and headquar- ence in providing tax, accounting, stood at €62.5 million, represent- administrative and consulting ing an increase of 269% from services to investors from all over 2015. Whereas total imports by the world. Cyprus during the period Jan-Aug Cyprus has achieved promi- 2017 were €4.9 billion (+7.3%). nence for its excellent healthcare Likewise, domestic exports to the system offering value for money UAE in 2016 were recorded at and quality medical treatment for €16.4 million, posting an increase patients from all over the world. of 19 per cent. Moreover, total In recent years, the Cyprus health- domestic exports during Jan-Aug care system has improved tremen- 2017 stood at €828 million, in- dously and is something that both cluding mineral fuels. the administration and practitio- Cyprus gross value added con- ners can be justifiably proud of. tribution from various sectors of The Ministry of Energy, Com- economy was registered in 2016 TRADE IN SERVICES WITH uae in million euros merce, Industry and Tourism of at around €16 billion. In 2017 it 2012 2013 2014 2015 2016 Cyprus invites Arab companies to is estimated that GDP will increase explore the endless business po- Exports 14 22 24 25 45 by 3.8%. tential that Cyprus has to offer. The UAE continues to be the Imports 21 20 22 40 44 For more information please TRADE OF GOODS CYPRUS WITH GCC (IN € MILLION) contact the Ministry of Energy, RE EXPORTS Commerce Industry and Tourism DOMESTIC EXPORTS of Cyprus at [email protected] or Cyprus Trade Center, Dubai: TOTAL IMPORTS e-mail: [email protected] or RE EXPORTS [email protected]

DOMESTIC EXPORTS

TOTAL IMPORTS Source: Ministry of 0 10 20 30 40 50 60 70 Energy, Commerce, Industry SAUDI ARABIA UAE QATAR OMAN KUWAIT BAHRAIN and Tourism.

KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017 19

�� Cyprus Maritime centre of excellence and quality

Cyprus Merchant Shipping is a jewel in the crown Why Cyprus ❖❖ Well-established and quality registry. of navigation ❖❖ A leading maritime centre with a well-organised and represented resident shipping industry. ❖❖ Comprehensive and favourable Tonnage Tax System, approved by the European Union. A “Flag of Progress” ❖❖ Special Taxation for Shipping companies applicable to Ship Owners, Charterers and Ship managers. The Cyprus Registry of Ships has shown phe- ❖❖ Competitive ship registration costs and fees. nomenal growth in the last 30 years. In the ❖❖ Efficient, qualitative and reliable services to the shipping industry, offering professional early ’80s Cyprus ranked 32nd on the list of 24/7 service. leading maritime nations. It now ranks among ❖❖ Maritime offices in Piraeus, London, Hamburg, Rotterdam, New York City and Brussels. the top international fleets — with more than ❖❖ More than 50 Double Tax Avoidance Treaties. 1,000 ocean going vessels having in total a ❖❖ Twenty-three Bilateral Agreements on Merchant Shipping. gross tonnage exceeding 22.6 million — and ❖❖ Strategic location with easy access to emerging markets and ideal time zone for running has the third largest fleet within the European international operations. Union with a percentage of 12 per cent of the ❖❖ Strong professional services infrastructure with high quality and minimal costs. total fleet of the 28 EU Member States. ❖❖ Skilled and multilingual shipping workforce. The classification of Cyprus flag in the ❖❖ Web services for the registration of seafarers and recognition of Certificates of Competency. "White List" of the Paris, Tokyo and other MoUs on Port State Control, demonstrates Cyprus Merchant Shipping's commitment to Exemption from Income Tax safety and quality. The high quality standards of the fleet and the services provided, • NO TAX on the income of a qualifying in combination with a number of fiscal, eco- owner/charterer derived from the opera- nomic and other benefits offered, make the tion of a qualifying ship engaged in a qual- Cyprus flag the ideal choice for every suc- ifying shipping activity. cessful entrepreneur. • NO TAX on the income of a qualifying ship The continuous improvement of the exist- manager derived from the rendering of ing infrastructure, the safeguarding of the crew and/or technical management services incentives available and the enhancement of activities ranging from marine insurance, to a qualifying ship. the international reputation of the Cyprus flag ship-chartering, ship-broking, financial • NO TAX on the income or profit made from as a quality flag, are its main objectives. services, marine equipment suppliers and the sale of a qualifying ship (only for telecommunications, to port services, owners). A leading maritime centre transhipment operations, ship bunkering and • NO TAX on the profit dividends paid to shipping agency services. shareholders directly or indirectly from the There is no doubt that Cyprus has firmly estab- operation / ship management of a qualify- lished itself as an international business and Tonnage Tax System ing ship. maritime centre. The efficient corporate plan- • NO TAX on the profit dividends paid to ning opportunities, well-regulated solid infra- The Cyprus Tonnage Tax System, which shareholders directly or indirectly from structure and the sound business platform, are has been approved by the European Com- the sale of a qualifying ship (only for key advantages that encourage entrepreneurs mission as compatible with the Guidelines owners). to establish their business on the island. on State Aid to Maritime Transport, provides • NO TAX on the bank interest earned on Cyprus is a major base for international ship- a stable fiscal environment for Cyprus Ship- working capital or shipping revenue, ping operations and for other shipping-related ping in the long-term. provided that the said working capital or activities. In fact, Cyprus has, over the years, shipping revenue is used by a qualifying: become one of the largest and widely known Beneficiaries –– Owner to pay expenses for the financing shipping centres in the world, comprising both and/or operation and/or maintenance of ship owning and ship management companies. • Owners of Cyprus ships the ship, More than 3,000 vessels are managed from • Owners of foreign ships –– Charterer to pay expenses arising out of Cyprus, which represents about 20 per cent of • Charterers the charter party, the world’s third party managed fleet. Several • Ship managers –– Ship manager to pay expenses relevant of the ship management companies, which to the management of the ship. operate on the island, rank among the largest Qualifying owners, charterers and ship man- of their kind in the world. agers are subject to an annual tonnage tax, • NO TAX on the wages and other benefits of In addition, more than 200 companies have which is calculated on the net tonnage of the officers and crewmembers of a qualifying been established with shipping-related qualifying ships they own, charter or manage. Cyprus registered ship.

20 KHALEEJ TIMES | SPECIAL REPORT | December 14, 2017