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Business Administration (M.I.S., Finance, Marketing
and Management)
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MBA - 2 years or 18 months
(M.I.S., Management, Marketing and Finance)
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Cyprus,
officially the Republic of Cyprus is a
Eurasian
island country situated in the eastern
Mediterranean south of its closest neighbour
Turkey, west of the
Levant, north of
Egypt, and east-southeast of
Greece.
Cyprus is
the third-largest
island in the Mediterranean and one of the most
popular tourist destinations in the Mediterranean,
attracting over 2.4 million tourists per year. A
former British colony, it gained independence
from the
United Kingdom in a 1960 and became a
Commonwealth republic in
1961. The Republic of Cyprus is a
developed country and has been a member of the
European Union since
1
May
2004.
Cyprus
gained independence from the United Kingdom in 1960, with
the UK, Greece and Turkey retaining limited rights to
intervene in internal affairs.
Turkey is 75
kilometres (47 miles) north; other neighbouring countries
include Syria and Lebanon to the east,
Israel to the southeast, Egypt to the south, and
Greece to the west-north-west.

ECONOMY:
The
Cypriot economy is prosperous and has diversified in
recent years.
Its
per-capita GDP (adjusted for
purchasing power) is slightly lower than that
of
France,
Germany,
Italy and the
UK,
but slightly higher than the
European Union average. Cyprus has been sought
as a base for several offshore businesses, due to its
highly developed infrastructure. Economic policy of the
Cyprus government has focused on meeting the criteria for
admission to the European Union. Adoption of the
euro as a national currency is required of all
new countries joining the
European Union, and the Cypriot government will
adopt the currency on
1
January
2008.
Oil has
recently been discovered in the seabed between Cyprus and
Egypt, and talks are underway between
Lebanon and
Egypt to reach an agreement regarding the
exploration of these resources.[33]
The seabed separating Lebanon and Cyprus is believed to
hold significant quantities of crude oil and
natural gas.
The economy
of the Turkish-controlled area is dominated by the
services sector, including the public sector, trade,
tourism and education, with smaller agriculture and light
manufacturing sectors. The economy operates on a
free-market basis, although it continues to be handicapped
by the political isolation of Turkish Cypriots, the lack
of private and governmental investment, high freight
costs, and shortages of skilled labor. Despite these
constraints, the Turkish Cypriot economy turned in an
impressive performance in 2003 and 2004, with growth rates
of 9.6% and 11.4%. The average income in the area is
$5,000 per capita, and the Turkish government has pledged
to increase this to $12,000 through investment and aid.
Growth has been buoyed by the relative stability of the
Turkish Lira and by a boom in the education and
construction sectors.
Language:
The 1960
constitution of the Republic of Cyprus establishes Greek
and Turkish as official languages.
Due to the geographic separation of the Greek-Cypriot and
Turkish-Cypriot communities following the Turkish invasion
in 1974,
Greek now
predominates in the South and
Turkish in the
North.
English is
widely understood on both sides of the island, especially
among the younger generations. The large number of
foreigners living in Cyprus has contributed to the
maintenance of English as a semi-official language.
TRANSPORTATION:
Since the
last railway was dismantled in
1950, the
remaining modes of transport are by road, sea, and air. Of
the 10,663 km of roads in the Greek Cypriot area as of
1998, 6,249 km were paved, and 4,414 km were unpaved. As
of 1996 the Turkish Cypriot area had a similar ratio of
paved to unpaved, with approximately 1,370 km of paved
road and 980 km unpaved. Cyprus is one of only four EU
nations in which vehicles drive on the
left-hand side of the road,
a remnant of British colonization.
Telecommunication:
Cyta,
the state-owned telecommunications company, manages most
Telecommunications
and
Internet
connections on the island. However, following the recent
liberalization
of the sector, a few private telecommunications companies
have emerged including
MTN,
Cablenet,
TelePassport,
OTEnet Telecom
and
PrimeTel.
|
Cyprus Climate and Weather |
|
Cyprus enjoys a Mediterranean climate, with abundant
sunshine year round. Long dry summers and mild winters are
separated by short autumn and spring seasons. Summer is a
time of high temperatures with cloudless skies, but the
sea breeze creates a pleasant atmosphere in the coastal
areas. Winters are mild, with some rain and snow on
Troodos Mountains.
|
Larnaca |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Min Temp (°C) |
7 |
6 |
8 |
11 |
16 |
20 |
22 |
22 |
20 |
16 |
12 |
8 |
|
Max Temp (°C) |
16 |
17 |
18 |
22 |
26 |
30 |
32 |
32 |
30 |
27 |
22 |
18 |
|
Min Temp (°F) |
45 |
44 |
47 |
53 |
61 |
68 |
72 |
72 |
68 |
62 |
54 |
48 |
|
Max Temp (°F) |
62 |
63 |
66 |
72 |
80 |
87 |
90 |
90 |
87 |
82 |
73 |
65 |
|
Nicosia |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Min Temp (°C) |
5 |
5 |
6 |
10 |
15 |
19 |
21 |
21 |
18 |
15 |
10 |
6 |
|
Max Temp (°C) |
14 |
15 |
18 |
23 |
29 |
33 |
36 |
36 |
32 |
27 |
20 |
16 |
|
Min Temp (°F) |
42 |
41 |
44 |
50 |
60 |
67 |
71 |
71 |
66 |
59 |
50 |
44 |
|
Max Temp (°F) |
58 |
60 |
65 |
74 |
85 |
92 |
97 |
97 |
90 |
82 |
69 |
62 |
|
Paphos |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Avg Temp (°C) |
13 |
12 |
13 |
17 |
19 |
23 |
25 |
26 |
24 |
21 |
17 |
14 |
|
Avg Temp (°F) |
55 |
54 |
55 |
63 |
66 |
73 |
77 |
79 |
75 |
70 |
63 |
57 |
|
 |