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Monthly Archives: July 2009

The Financial Mirror reported recently that the European Investment Bank (EIB) and Cyprus’ three biggest commercial banks had signed a € 228 million loan agreement, which aims to offer cheaper, long-term loans to the island’s small and medium-size businesses (SMEs). The loan is part of a broader policy on the part of the EIB to boost the liquidity of SMEs across Europe.

The business community on the island was encouraged by the move, saying that it will help Cypriot SME’s by providing them with much-needed additional funds at better rates than are currently available in the Cypriot lending market. € 120 million of the funds will go to the Bank of Cyprus, € 50 million to the Marfin Popular Bank and another € 58 million will go to the Hellenic Bank. The three banks will also have to match the EIB loan with their own funds and funding will be available to SMEs across a range of sectors including agriculture, industry, commercial services and tourism.

The agreements were signed in the presence of Cypriot Finance Minister, Charilaos Stavrakis, EIB Vice President, Plutarchos Sakellaris and the chief executives of the three Cypriot commercial banks. Stavrakis described the signing of the agreements as “extremely important”, emphasising the importance of cheap funding and liquidity for Cypriot businesses, especially the small and medium-size enterprises, which he said are the backbone of the Cyprus economy. He also talked about the impact of the global financial crisis on the Cypriot economy, noting that Cyprus is still the best performer in the EU and the only member state to record a positive growth rate and the second best unemployment rate.

Author: Anne Hall

Visitors to Limassol and the surrounding areas, as well as those with homes in the region, will be delighted to hear that the Limassol Airport Express Bus has increased its services for the summer months, making it even easier to get cheaply and comfortably from Limassol to either Larnaca or Paphos International Airports.

There are now more frequent services on the daily routes between Limassol and Larnaca airport to suit the needs of a wide range of travellers. Services run from 02.45am until midnight (including weekends and bank holidays) and leave approximately every two hours (a full timetable can be downloaded from the website below). Pick-up and drop-off points are at Christofi Ergatoudi Street in front of the Agios Georgios Havouzas church, then at the entrance of the industrial area on Agios Athanasios, before going on to Larnaca airport. The journey time is just 45 minutes. 

The service between Limassol and Paphos International Airport also takes 45 minutes, with just one pick-up in Limassol (Agios Georgios Havouzas church). There are between three and four buses every day from Limassol and Paphos airport (a full timetable is downloadable from website below).

The cost is just €7 per person each way including luggage. Buses are comfortable and fully air-conditioned with plenty of space for your luggage. Routes are run by the Limassol Urban Bus Company and it’s important to book in advance to be assured of your seat. So visit the website (http://www.airportshuttlebus.eu), view the timetable you’re interested in and call to book in advance for an economical and stress-free journey to the airport of your choice.

Any bookings or questions regarding the Limassol Airport Express service:
Tel: 77 77 70 75 or (00357) 97 77 90 90
E-mail: info@airportshuttlebus.eu

Author: Anne Hall

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