neo January 12, 2018 No Comments

November 2017 _ NBAC Christmas Gala Dinner

For another year, the Norwegian Business Association in Cyprus (NBAC) organised its Christmas Gala Dinner for its members and guests at Columbia Plaza, Limassol, on the 30th November with a great success.

The event was attended by 100 NBAC members, guests and their spouses and special guests the Minister of Transport, Communications and Works, Mr. Marios Demetriades, the Director General of the Cyprus Investment Promotion Agency (CIPA) Mrs. Natasa Pilides and the Consulate General of Norway in Cyprus Mr. Panagiotis Antoniades.

In an opening speech, Mr. Jens Wilhelmsen, President of NBAC, welcomed all participants to the Association’s Christmas Gala Dinner thanking them for accepting the invitation.

Jens introduced the special guests of the event and gave his best wishes to Mr. Andreas Christou in the upcoming Municipality Elections. Jens also shortly referred to the activities of NBAC during 2017 and the events plan for the year 2018.

Jens went on to warmly thank the sponsoring companies of the event – Jotun, Aristodemou Loizides Yiolitis LLC, Songa Offshore, SML Sole Management and Viking Innovations. Finally, he wished everyone Merry Christmas and a Happy New Year.

The Gala Dinner continued with a buffet accompanied with wine, Aquavit – the traditional Norwegian spirit flavoured with spices – music, dancing and networking.

More photos from this event are available here.

We would like to warmly thank all attendees for their participation in our Christmas Gala Dinner and we wish everyone:

Merry Christmas and a Prosperous 2018!

neo November 13, 2017 No Comments

October 2017 _ SONGA Offshore: From the Ashes to the Fire

The Norwegian Business Association Cyprus (NBAC)  in collaboration with the Cyprus International Businesses Association (CIBA)held an event entitled “Songa Offshore from the ashes to the fire – A Cypriot Energy Service Company Success Story” with guest speaker, Mr. Bjørnar Iversen, the CEO of Songa Offshore SE. 

Mr. Iversen enlightened the esteemed audience, regarding the financial difficulties Songa Offshore, a Cypriot based oil rig company had encountered in 2012, its fight for survival through the ongoing oil crisis and how a successful merger with Transocean, an American oil rig company has stabilised and strengthened its position in the Floater market.

The event, which was sponsored by SONGA Offshore SE a prominent member company of both CIBA and NBAC, was highly attended by member companies and guests from both Associations. 

A cocktail reception and members networking followed the presentations.

More information and photos of the event can be found here.

 

neo September 26, 2017 No Comments

June 2017 _ Cyprus Economic and Political Current Affairs & AGM

The Norwegian Business Association in Cyprus (NBAC) organised another successfull event which has taken place at 15 June 2017 at Four Seasons Hotel in Limassol.

The event started with the Annual General Meeting of the Association at 18:30 pm through which members approved the Annual Report and Financial Statements of NBAC. Following the AGM, Guest speaker Mr. John Vickers – the Chief Editor of the Gold Magazine, the Cyprus leading business magazine has presented on the “Cyprus Economic and Political Current Affairs”. Following his presentations, participants took the chance to address various issues and ask question revolving around the current affairs with the Cyprus economy and politics.

The event closed with a coctail reception. A photo gallery of the event can be viewed here.

NBAC would like thank all members and guests who attended this event.

neo December 13, 2016 No Comments

December 2016 _ NBAC Christmas Gala Dinner

The Christmas Gala Dinner of the Norwegian Business Association in Cyprus (NBAC) took pace at Columbia Plaza, Limassol, on the 7th December with a great success.

The event was attended by 100 NBAC members, guests and their spouses and special guests the Mayor of Limassol, Mr. Andreas Christou, the Director General of the Cyprus Investment Promotion Agency (CIPA) Mrs. Natasa Pilides and the Consulate General of Norway in Cyprus Mr. Panagiotis Antoniades.

Following a Coctail Reception at the house of Mr. Bjornar Iversen, CEO of Songa Offshore, the participants gathered at Columbia Plaza, Limassol. In his address, Mr. Jens Wilhelmsen, President of NBAC, welcomed all participants to the Association’s Christmas Gala Dinner thanking them for accepting the invitation.

Jens introduced the special guests of the event and gave his best wishes to Mr. Andreas Christou in the upcoming Municipality Elections. Jens also referred to the cooperation with Youngship, which commenced during 2016 and which will become more active in 2017 through joint organisation of various events.

Jens went on to warmly thanks the sponsoring companies of the event – Jotun, Aristodemou Loizides Yiolitis LLC, Deep Sea Supply, Songa Offshore, Norconsult Telematics and CMK Profidelis. Finally, he wished everyone Merry Christmas and a Happy New Year.

The Gala Dinner continued with a buffet accompanied with wine, Aquavit – the traditional Norwegian spirit flavoured with spices – music, dancing and networking.

More photos from this event are available here.

We would like to warmly thank all attendees for their participation in our Christmas Gala Dinner and we wish everyone:

Merry Christmas and a Prosperous New Year!

happy-new-year-2017-5

neo October 14, 2016 No Comments

October 2016 _ Statoil – a strategic supplier of gas to Europe

Another successful event has taken place at 11 October 2016 in Four Seasons hotel in the presence of 100 members and guests of the Norwegian Business Association in Cyprus (NBAC) and the Cyprus International Business Association (CIBA), joint organizers of the event. Guest speaker was Tim Dodson, Executive Vice President Exploration of Statoil, who presented on Statoil – a major supplier of gas to Europe”. Statoil is one of the bidders in the third offshore licensing round for the Block 10 along with ENI, Total and ExxonMobil/Qatar Petroleum (QP).

The event opened with an introductory speech from Jens Andreas Wilhelmsen, Chairman of NBAC, and Chris Koufaris, General Secretary of CIBA. The two gentlemen thanked Tim Dodson for accepting the invitation and wished Statoil every success with its bid in the third offshore licensing round.

In his presentation, Tim Dodson gave a brief introduction about Statoil and highlighted the leading position of the company in conducting sustainable and transparent business based on highly ethical values. Tim elaborated on some of the major projects undertaken by Statoil with the Subsea Factory being the highlight – an innovative concept and a game changer for the oil and gas industry.

On the Eastern Mediterranean gas, Tim stressed out the potential of Cyprus for large resources in its Exclusive Economic Zone as well as the importance of proximity to the European gas market and the multiple market options. On an another note, Tim emphasized the similarities of the Cyprus case with Norwegian case when Norway was at its initial stages of the oil exploration.

The event closed with questions from attendees and a cocktail.

NBAC would like to thank its members and guests for their attendance and contribution as well as CIBA for the excellent cooperation in organising this event and making it a great success.

The full presentation of Tim Dodson: Statoil Presentation Cyprus _ October 2016

 

Fotis June 15, 2016 No Comments

June 2016 _ Meeting H.E. Ambassador Jørn E.Gjelstad

NBAC successfully hosted a lunch for its members in the presence of the new H.E. Ambassador in Greece, Jørn E.Gjelstad.

NBAC members and guests have been given the opportunity to meet and discuss with Jørn E.Gjelstad and follow his speech on on-going matters with emphasis on the political situation in the Eastern Mediterranean  region.

The speech was followed by an open discussion between the Ambassador and the attendees as well as questions by the members. The event ended with  a lunch.

A warm thank to the members and guests of NBAC for their participation and contribution to making this event a success.

neo April 13, 2016 No Comments

April 2016 _ UN’s peacekeeping force in Cyprus – its present and future role

On Tuesday 12 April 2016, the Norwegian Business Association in Cyprus (NBAC) hosted an event at Amathus Hotel in Limassol titled: “UN’s peacekeeping force in Cyprus – its present and future role”. The event was attended by 60 members and guests of NBAC.

The topic was presented by the Major General Kritin Lund, the Force Commander of the United Nations Peacekeeping in Cyprus and a serving general in the Norwegian Army. Born in 1958, Major General Lund has over 34 years of military service and is the first woman ever to serve as Force Commander in a United Nations peacekeeping operation.

The event was opened by the Chairman of NBAC, Jens A. Wilhelmsen, thanking at first the Major General Kristin Lund for accepting the invitation from NBAC to present on the role of UN in Cyprus and secondly acknowledging the efforts and importance of UN presence in Cyprus in safeguarding peace in the island. In his short introductory speech, Mr. Wilhelmsen announced to the participants the lunch of the new website of NBAC. Mr. Wilhelmsen explained that the development of the new website was initiated to further strengthen the Association’s operations for the benefit of its members and provide an even more dynamic tool of communicating with its members and the public in general.

Following Mr. Wilhelmsen’s opening speech, Major General Kristin Lund presented on the structure, organisation and activites of the UN  in Cyprus. The main message from the Major General ‘s presentation was the continuous efforts of the UN in supporting the two sides for a comprehensive settlement. She highlighted the efforts and initiatives taken by both leaders and the these are greatly welcomed by the UN. However, she emphasised the high level of work that remains to be done if this window of opportunity is to lead to lasting peace. She concluded that UN will remain committed to assisting the two sides in achieving the aspiration of both leaders to reach their shared goal of united federal Cyprus for all

In the end of the presentation, participants have been given the opportunity to ask several questions which have been addressed by the Major General. The event was followed by a cocktail gathering for all the participants.

This was great event, with a great speaker on a very interesting topic for Cyprus.

The event was generously sponsored by:

lavar

neo June 11, 2015 No Comments

June 2015 _ Ambassador Sjur Larsen Presentation / Farewell

On Wednesday 10th of June 2015, NBAC successfully hosted a meeting at the Yacht Club restaurant, Limassol Marina, where the Norwegian Ambassador of Greece and Cyprus Mr Sjur Larsen gave a very interesting presentation along with a ‘farewell speech’. In his presentation Mr Sjur Larsen commented on the bilateral relations of Cyprus and Norway, on the reunification process as well as on oil and gas opportunities and prospects.

Sjur Larsen´s speech briefly covered the positive diplomatic outcome of his four years serving as Ambassador in Greece and Cyprus and emphasised on the optimistic view for a more fruitful cooperation in the future. The presentation was followed by a ‘thankful speech’ from the chairman of NBAC Mr Jens A. Wilhelmsen. Mr Jens A. Wilhelmsen sincerely expressed his gratitude to the Ambassador for the support expressed on NBAC during his entire stay.

NBAC members and their guests had the opportunity to express their views on the presented topics, make comments and ask questions which were answered by the Ambassador.

The Ambassador´s presentation was preceded by lunch which was a great opportunity for NBAC members and their guest to socialize and network. Overall, the meeting was a great success and contributed to the further development of relations between Cyprus and Norway businessmen.

neo April 30, 2015 No Comments

April 2015 _ Cyprus developing its role as the regional hub in the Eastern Mediterranean

NBAC, in partnership with the Norwegian Embassy, CIBA and ERPIC, arranged a successful meeting on the 20th April with 125 individuals attending, where Mr Claes Reksten from Petrad presented “What can be learned from the Norwegian Model”. Following the presentation was a panel debate about Cyprus as the regional oil and gas service hub for the Eastern Mediterranean sector.

The Norwegian Model highlights were:

–       It took Norway 40 years to develop and invest in its oil production and service industry before anything could be accumulated into the sovereign wealth fund.

–       The creation of a successful model for any country demands long term planning and a strong interaction between local industry, the government, regulatory bodies and the international oil industry.

–       The state of Norway puts its own money on the table and participated directly in the risks of the exploration and development of the oil and gas fields.

The following panel discussion main points:

–       Cyprus is an ideal hub for the Eastern Mediterranean oil/gas service industry because of its geographical location, EU and EURO membership and its present infrastructure.

–       Cyprus government is passing on a great opportunity to create employment and future tax income, when they are not actively supporting the international oil and gas service companies to establish themselves in Cyprus.

–       Cyprus government should promote building a service base in Cyprus for the regional Exploration and Offshore production of oil and gas.

–       Local companies are facing a steep learning curve in order to adapt to the high quality standards and regulatory requirements demanded by the international oil and gas industry for certified workers (for instance: welding, pipe works, electrical/electronic works)

–       Local companies must abandon the wait and see mentality and actively seek cooperation with overseas oil and gas firms in order to obtain competence and support for developing a local service industry.

The event will have a follow up meeting in the autumn, which will focus on bringing international companies to the Eastern Mediterranean region.

We will email Mr. Reksten´s presentation to any interested party. Please contact us for further information.

neo February 27, 2015 No Comments

February 2015 _ Cyprus property market and the new foreclosure legislation

NBAC hosted an event with a topic ‘Cyprus property market and the new foreclosure legislation’. The event took place in Ajax Hotel Limassol and 40 members and guests of NBAC have attended.

In the wake of the finance crisis hitting the Cyprus economy in 2008, the real estate industry suffered severely. Mr. Nigel Howarth was invited to inform us about how events have changed the property market and how new foreclosure legislation will affect the real estate environment. Mr. Howarth is the owner and editor of the “Cyprus Property News” and one of the most knowledgeable real estate persons in Cyprus.

The presentation of Mr. Nigel Howarth discussions and questions by the members. The event ended with Coctail and finger food reception.

The event was generously sponsored by

norconsult

neo January 5, 2015 No Comments

December 2014 _ NBAC Christmas Lunch

NBAC hosted its Christmas party at ‘Ibsen Tea and Coffee house’ in Limassol. Our members had the chance to enjoy the traditional Norwegian food and drinks (this event happens to be quite popular among Norwegians in other countries!).

The buffet included glogg (gluhwein) followed by sild (herring), smoked salmon, gravid lax, turkey, smoked ham, ribbe, fenalar, spekeskinke and traditional sausage and not to forget Norwegian aquavit

A Welcome speech was given by the Chairman of NBAC, Jens Wilhelmsen, followed by a speech from Harald Hvalvik, General Manager of Jotun Hellas & Jotun Cyprus.

We hope our members enjoyed the party and the Norwegian food and drinks!

NBAC wish Merry Christhmas to all of its members!

neo September 30, 2014 No Comments

September 2014 _ Meeting H.E. Ambassador Sjur Larsen

NBAC successfully hosted a lunch for its Members in the presence H.E. Ambassador Sjur Larsen.

NBAC members have been given the opportunity to meet and discuss with Sjur Larsen and follow his presentation on topics specific to

1. The bilateral relations between Cyprus and Norway,

2. The Reunification process, and

3. Oil and gas opportunities in Cyprus.

The presentation was followed by a discussion and questions by the members and a lunch.

NBAC thanks all the members and guests for their participation and contribution to making this event a success.

 

neo July 28, 2014 No Comments

July 2014 _ NBAC Members’ Lunch

A lunch has taken place at Karatello Restaurant for all the members of NBAC.

Mr. Torbjorn Forthun of Karabin AS (a Norwegian energy service firm) shared with members and guests some of his entrepreneurial experiences in setting up oil field service firms in Norway and his preparations for the anticipated forthcoming energy service market in Cyprus.

A big thank you to our members for attending the lunch and making this event a real success!

neo June 30, 2014 No Comments

June 2014 _ Double taxation treaty between Cyprus and Norway

On Thursday 12th of June 2014, NBAC successfully hosted a seminar on the new Double Tax Treaty between Norway and Cyprus, which was signed  at the 24th of February 2014. The new agreement is based on the OECD Model and provides for the exchange of information in accordance with the relevant articles of the Model. The Finance Ministries of the two countries stated that the new treaty will contribute to the further development of trade and economic relations between Cyprus and Norway.

The seminar was opened by Mr. Jens Wilhelmsen, Chairman of the Board of NBAC, and Mr. Takis Klerides, Member of the Board of NBAC, who both thanked PWC for their kind acceptance to the invitation of NBAC to give the presentation on the new tax treaty between Norway and Cyprus. Further, both gentlemen warmly thanked the members and guest of NBAC for their participation in the seminar.

Subsequently, Mrs. Cleo Papadopoulou, Partner, direct tax services, PWC Cyprus, and Mrs. Rita C. Lid; Partner, Law office, PWC Norway, gave a presentation on the new tax treaty explaining the major changes as well as the impact of these changes on both individuals and companies. Finally, opportunities arising from the revised tax treaty were presented. The seminar ended with the speakers answering various questions by the participants.

The seminar was followed by a Coctail Reception, during which NBAC members connected with the speakers and invited guests and each other.

The Board of NBAC would like to thank, once again, PWC and its members and guests for their contribution to making this seminar a success.

Zak Lewis April 24, 2014 No Comments

April 2014 _ First Annual General Meeting of NBAC

On Thursday 10th of April 2014, NBAC had its first Annual General Meeting (AGM) at Mediterranean Hotel, Limassol. Having welcomed NBAC members and guests to the first AGM, the Board has presented the mission and objectives of NBAC. Subsequently, the Board has presented its members and details of NBAC program in 2014.

The agenda involved speeches by the two formal guests of the AGM. Mrs Fiona Mullen, Director at Sapienta Economics Ltd, economic research consultancy presented the current situation in Cyprus one year after the start of the economic crisis and the economic challenges and opportunities the Republic of Cyprus is facing in the next 5-10 years.  Mr. Charis Papacharalambous, Chief Executive of Cyprus International Promotion Agency (CIPA) presented the competitive advantages Cyprus has developed in order to attract international firms and investments to Cyprus and the actions currently taken by the country to further stengthen foreign investments in Cyprus. The speakers have then answered various questions by the participants.

The AGM concluded with a Coctail Reception, during which NBAC members connected with the speakers and invited guests and each other.