Keeping to its live music agenda, Kafeneio to Leoforio has one more performance scheduled for this week. On Saturday at 8.30pm a new duo is arriving at the old Nicosia café-bar. Described as rowdy, exciting and loud, Denis and Pasi will deliver a tasty set full of Blues, Country, Grunge and Rock n’ Roll covers and originals. What’s more is that their set is expected to cover more songs in English – a rather uncommon repertoire for Kafeneio to Leoforio.
Next week, Larnaca has some live music planned. The Tudor Inn Bar reopens its doors after a brief Christmas break by welcoming The Steppin’ Out Jazz band on Wednesday 12. Vocalist Alice Ayvazian, saxophonist Marios Papares and pianist Dimitris Miaris prepare for an unforgettable night, honouring one of the greatest jazz composers of the 20th century, Duke Ellington. From 9pm onwards, the Larnaca bar will fill with music from The Duke Ellington Songbook.
A few days later, more music will sound in the capital. The Nicosian Studio Tapas Bar welcomes the Euikoa Ota band for some lively rock and blues on January 15. The 9pm set of the three-piece band with guest vocalist Ioanna Protopapa will feature Greek and foreign rock songs with a bluesy flavour. As the night develops, don’t be surprised if the evening’s repertoire completely changes mood and transforms from rock to pop and sing-a-long covers.
Denis and Pasi
Duo perform blues, country, grunge covers and originals. January 8. Kafeneio to Leoforio, Nicosia. 8.30pm. €3. Tel: 97-748177
The Steppin’ Out Jazz Band
Local band performs The Duke Ellington Songbook. January 12. The Tudor Inn Bar, Larnaca. 9pm. Tel: 96-511065
Euikoa Ota
Rock and blues band plays live. January 15. Studio Tapas Bar, Nicosia. 9pm. €3. Tel: 99-993815
Fusion Reactors CEO Christos Stavrou is unequivocal when he speaks about the potential value of fusion technology, both in terms of its use to the world, but also to Cyprus.
“A private fusion company in Cyprus would provide a significant boost to the island in a number of ways,” Stavrou told the Cyprus Mail, adding that the commercialisation of fusion has the potential to usher in a new era, similar in scope to that brought by the industrial revolution.
Stavrou grew up in Cyprus but left 20 years ago to study abroad, acquiring a PhD in Plasma Physics from Imperial College, a masters degree in Fusion Energy from the University of York, a PGCE in Physics from the University of Oxford, and a bachelor’s degree in Physics from the University of Bristol.
This was followed by taking up roles at the Joint European Torus (Jet), an operational magnetically confined plasma physics experiment at the Culham Centre for Fusion Energy in Oxfordshire, as well as Tomahak Energy, a major fusion energy company based near Oxford.
“Having worked in both the public and private fusion sectors, I identified significant improvements to existing devices, which I believe will significantly accelerate the commercialisation of fusion,” Stavrou said.
“Both I and the team at Fusion Reactors believe that fusion is absolutely crucial in reducing greenhouse gas (GHG) emissions and thus in helping us avoid a climate catastrophe,” he added, explaining that his desire to launch Fusion Reactors stems from his goal of delivering commercial fusion as early as feasibly possible.
Stavrou and the team at Fusion Reactors have been working over the past two years to finalise their designs and methodology and are now ready to begin operations.
“We intend to begin fundraising in the first quarter of 2022 and begin operations as soon as the funds have been raised,” Stavrou said.
The Fusion Reactors CEO added that while the company is currently based in the United Kingdom, they are open to relocating elsewhere, including Cyprus, if an investment opportunity arises.
Stavrou told the Cyprus Mail that Fusion Reactors aims to directly address the issue of greenhouse emissions resulting from the production of electricity. Approximately one-quarter of all greenhouse emissions are produced from power generation, with about two-thirds of this resulting from the burning of fossil fuels.
The company is developing a reactor that can generate heat similar to that produced during the burning of fossil fuels, from which then electricity can be generated.
“This means that it can like-for-like replace the fossil-fuel burning boilers in existing and new thermal power stations, thereby converting them to green, sustainable power generators,” Stavrou said.
“Using Cyprus as an example, imagine keeping the current power stations (e.g. Vassiliko) with their current capabilities (generating the same amount of electricity, using the same existing grid infrastructure and with the same reliability and availability), but not burning diesel or mazut to get this electricity,” he added, explaining the conversion of the same power station to one that is completely zero-carbon, green and sustainable.
Stavrou deems the level of current climate change efforts both in Cyprus and abroad to be far from sufficient.
“In Cyprus, for instance, we are working and planning to become a fossil fuel (natural gas) producing country, at a time when fossil fuels should be phased out, with this increasingly happening in other countries,” Stavrou said, qualifying it by saying that this is understandable from a short-term economic point of view.
Humanity is currently faced with the challenge of satisfying an ever-increasing energy demand while decreasing emissions. This has placed renewable energy at the forefront of this challenge. While Stavrou sees the value in renewables, his view is somewhat less enthusiastic than most, describing them as being part of the solution, not the solution on their own.
One of the examples Stavrou mentioned is that of the UK, where renewables penetration is already quite high, bringing up instances where the country had to rely on fossil fuels, including coal, to bridge the gap in electricity production during low wind and sunshine conditions.
“It is exactly this reason why fusion is crucial, considering that by directly replacing fossil fuels, it allows the continued use of existing infrastructure,” he said, adding that “this means we can quickly scale up to meeting future demand with no GHG emissions and no weather dependency”.
Fusion has progressed from state-owned labs, with little interest from the private sector, to an explosion in private ventures.
One example is TAE Technologies, which was founded in 1998 and has grown into a company employing more than 250 employees. As of 2021, TAE Technologies has raised $880 million in funding, an industry-leading amount.
As recently as November of 2021, Helion Energy, founded in 2013, received $500 million in Series E funding, with an additional $1.7 billion of commitments tied to certain milestones and benchmarks.
“We have had interest expressed in our company already, and we expect that this will increase further when we start fundraising,” Stavrou said, explaining that the aforementioned companies started with small amounts similar to those in Fusion Reactors’ first fundraising rounds.
“Our first fundraising round will allow us to complete the first phase of our roadmap, which includes setting up our main facility and completing experiments on two of our devices,” Stavrou added.
COMMENT:
Cyprus is perfectly placed to move in to renewable energy, but moving from the current Nuclear Fission to Nuclear Fusion may be harder than it seems, the world has been 30 years away from Nuclear Fusion for decades, so maybe a government backed incentive for all new buildings to have solar powered roofs, and paved areas fitted with solar tiles to ensure that they are almost self sufficient would make and immediate and progressive change.
Cyprus’ move to open up its power generation market and boost the share of renewable sources in its energy mix will face its first big test next year, when the European Union’s executive arm assesses the project.
Cypriot lawmakers in October approved a law aimed to decouple the power grid operator from the state-run Electricity Authority of Cyprus and enable private power generation companies to supply homes and businesses.
The decoupling was among the reforms Cyprus pledged under its national Recovery and Resilience Plan (RRP) that European leaders approved in July.
The European Commission told the Associated Press in an email Friday that it will “formally assess the compliance of this reform with the (RRP) commitments” when the Cypriot government seeks EU funding next year.
Previously almost exclusively dependent on fossil fuels for power generation, Cyprus has made strides in boosting the contribution of renewables. This year’s target of a 13% share in overall electricity generation was exceeded by 4 percentage points, according to Energy Minister Natasa Pilides. Solar and wind energy are the two primary renewable sources.
Cyprus is also keen to introduce natural gas as a cleaner-burning alternative fuel as the country continues to search for possible deposits off its southern shores.
University of Cyprus Economics Professor Sofronis Clerides said another key reform that Cypriot authorities need to undertake is to streamline how the Electricity Authority runs itself. That, he said, would reduce the type of nepotism and clientelism that political parties rely on to bolster their power base by meting out jobs to supporters.
Three out of four Cypriots prefer to live in a house rather than a flat, while more than two-thirds own their own home, according to a recent Eurostat survey.
In their annual report on EU citizens living conditions for 2020, Eurostat found that 73% of the island’s population lived in a house, while 25.6% lived in a flat.
In the EU, 53% of the population lived in a house, while 46% lived in an apartment (1% lived in other accommodation, such as houseboats, trucks).
Ireland recorded the highest share of the people living in houses with 92%, followed by Croatia (78%), Belgium (77%) and the Netherlands (75%).
The majority of people in more than two-thirds of EU countries live in houses.
The highest percentages of people living in apartments were in Spain (66%), Latvia (65%), Estonia (61%), Greece and Lithuania (both 59%).
When it came to cities, 72% of the EU population lived in an apartment and just 28% in a house, while in rural areas, 82% of the population lived in a house and 18% in an apartment.
Homeowners
More than two-thirds of people in the EU lived in their own homes.
Being the owner or tenant of your home differs significantly between the Member States.
In the EU, 70% of the population lived in their own home, while 30% lived in rented housing.
The highest homeownership rates were observed in Romania (96%), Slovakia (92%), Croatia and Hungary (both 91%).
Owning a home is the rule in all EU countries, except for Germany, where owners and tenants’ percentages are 50-50%.
Tenants in Austria and Denmark made up 45% and 41% respectively.
In Cyprus, 68.6% live in their own home, while 31.4% rent.
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Pope Francis on Thursday urged Cypriots to seek dialogue to heal the “terrible laceration” that has divided their island for nearly half a century, saying neither side should use force or threats.
Francis, 84, started his first trip to Cyprus with a visit to the island’s Maronite cathedral, where he lauded Cyprus for its handling of a refugee influx authorities say is becoming overwhelming.
But he saved his most powerful words about the island’s stagnant political situation for an address to leaders and diplomats at the presidential palace.
“The greatest wound suffered by this land has been the terrible laceration it has endured in recent decades. I think of the deep suffering of all those people unable to return to their homes and their places of worship,” Pope Francis said.
Cyprus has been split in two since a 1974 Turkish invasion triggered by a Greek-inspired coup, though the seeds of conflict were sown earlier soon after independence from Britain in 1960.
Countless mediation attempts have failed and the peace process stalled in mid-2017, when talks collapsed. Tens of thousands of Greek and Turkish Cypriot are internally displaced.
Francis said the only word on the signpost towards peace was dialogue.
“We know that it is no easy road; it is long and winding, but there is no other way to achieve reconciliation.”
Francis is visiting the southern parts of the island, controlled by the internationally-recognised Cyprus government. A Turkish Cypriot breakaway state in northern Cyprus is recognised only by Ankara.
“The people of Cyprus lived through, and know better than anyone the pain of being uprooted from their homes, becoming refugees,” Cyprus President Nicos Anastasiades said.
Nicosia is one of the world’s last divided capitals and the Vatican embassy where the pope will be staying is right on the dividing line. A wall in the back garden of the embassy is lined with barbed wire, and beyond that, the Turkish Cypriot side of Nicosia.
The church in the compound that houses the embassy still bears scars from the crossfire of ethnic strife.
Francis, who shuns large, bulletproof cars, travelled in a small black Fiat 500 with open windows. He was greeted with cheers and applause as the vehicle navigated the capital’s narrow streets.
Cyprus says it is struggling to cope with an influx of undocumented migrants, through the dividing line splitting the island or by boats from the neighbouring Middle East. KBN2IF0YM
“By your spirit of fraternity, you can remind everyone, and
Europe as a whole, that we need to work together to build a future worthy of humanity, to overcome divisions, to break down walls, to dream and work for unity,” Francis said at the Maronite cathedral.
Francis, who has made defence of migrants and refugees a cornerstone of his papacy, has arranged to have 50 migrants relocated to Italy after his trip this week. He will also travel to Greece, including Lesbos Island, where many refugees have arrived.
According to a report released by the Cyprus Statistical Service (CyStat) this week, Cyprus’ GDP growth rate in real terms during the third quarter of 2021 is positive and estimated at 5.5 per cent year-on-year.
Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 5.6 per cent.
The positive GDP growth rate is mainly attributed to the sectors of hotels and restaurants, manufacturing, transport, storage and communication, wholesale and retail trade, repair of motor Vehicles, the arts, entertainment and recreation, as well as other service activities.
The Turnover Value Index of Retail Trade, excluding motor vehicles, for September 2021 rose by 12.4 per cent compared to the corresponding month of the previous year, according to the Cyprus Statistical Service (Cystat).
For the same month, the Turnover Volume Index of Retail Trade rose by 7.7 per cent compared to the corresponding month of the previous year.
For the period between January and September of 2021, the value index is estimated to have recorded an increase of 9.3 per cent, while the volume index rose by 7.9 per cent year-on-year.
The Cyprus Stock Exchange (CSE) ended Thursday, December 2 with minor profits.
The main Cyprus Stock Market Index was at 67.51 points at 13:022 during the day, reflecting a rise of 0.24 per cent over the previous day of trading, while the FTSE / CySE 20 Index was at 40.43 points.
The total value of transactions came up to €33,842.
In terms of sub-indexes, the invest firm index rose by 1.47 per cent, while the main index rose by 0.73 per cent. The alternative index fell by 0.23 per cent, while the hotel index remained stable.
The biggest investment interest was attracted by Petrolina (no change), Louis (+9.71 per cent), Bank of Cyprus (-0.93 per cent), Logicom (-1.88 per cent) and Atlantic Insurance (+1.23 per cent).
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Final preparations are being completed in the Cypriot capital of Nicosia ahead of a visit by Pope Francis due to begin on Thursday.
For the government of Cyprus, this visit constitutes an historic event.
According to the Cypriot Deputy Government Spokesman, 77 reporters will accompany the Pope’s mission, while more than 200 journalists have been accredited to cover the event.
Although a brief trip, the final official schedule shows several events, including a Holy Mass at GSP sports stadium on the outskirts of Nicosia, a leading venue for international football matches.
Hundreds of Catholics, many of them travelling from throughout the Mediterranean region, are expected to attend the event.
Events
Pope Francis will also meet with refugees and immigrants, followed by an Ecumenical prayer at the Catholic Church of the Holy Cross in Nicosia, a unique parish church where Mass is celebrated in eight different languages.
During the trip, the Holy Father will visit the Presidential Palace, where he will be greeted by President Nicos Anastasiades who is expected to brief him on protection of cultural heritage, efforts to promote interreligious dialogue, the on-going ‘Cyprus problem’ and the migration and refugee issue and human rights.
The challenges facing the world due to the new outbreak of the Covid-19 pandemic will also be discussed.
Pope Francis will then visit Archbishop Chrysostomos II, the leader of the Orthodox Church of Cyprus and hold meetings with the leaders of the Catholic Church on the island.
This is the second Papal visit to Cyprus, after Benedict XVI successful journey in 2010 aimed at strengthening ties between the Roman Catholic and Orthodox churches.
Pope Francis will depart from Cyprus on 4 December to travel Athens.
On Tuesday the 23rd November 2021 the Great Britain Cyprus Business Association held a Business Orientation Conference at the Marriot Regents Park. The event was attended by the Minister of the Interior, Nicos Nouris, representatives of established developers, solicitors, investment consultants, accountants and other members of the rapidly expanding Cypriot business community.
Trellows is very proud to be a member of this professional organisation that was founded by Mr Savvas Kyriakides, to promote exposure, collaboration and expansion of the Cypriot business community, a task that the founder takes very seriously in his relentless efforts to connect businesses within Cyprus, around the UK and beyond.
There is no doubt that the Cypriot commercial compass has been recalibrated in recent years, taking the island on a carefully chartered course to a destination that will see it become the centre for financial investment, management and corporate presence for businesses seeking a presence within the EU, with simplified and favourable tax regulations, as well as access to one of the highest proportions of postgraduate educated populations in the world.
Cyprus has experience exponential growth in overseas investment and business relocation, with the completion of Brexit, making Cyprus, an island with a historical nexus to the UK a preferred EU headquarters or satellite location for many British businesses.
The property market in Cyprus is not only robust, but also benefits from excellent growth, yield and increasing demand.
The speakers at the conference consistently underlined the positive benefits of investing in Cyprus, whilst announcing several innovations, to legislation that will serve to increase the appeal of Cyprus as an expanding business and investment hub.
Trellows would like to thank the members who attended as well as those who could not, as they are part of a business community that is gathering pace and capturing the attention of businesses and investors worldwide.
If you would like to know more about joining the Great Britain – Cyprus Business Association please visit their website or contact the founder directly.
