Breaking news

TheSoul Publishing Launches New International PR Agency For Cypriot Companies

by THEFUTURE.TEAM

June 14, 2024

TheSoul Publishing, a leading digital studio, has announced the launch of World’s Fair Communications, a new strategic communications agency targeting Cypriot companies aiming to enhance their global presence. The agency, headquartered in the United States, is co-founded by Craig Radow and Eric Schultz, both former senior executives at TheSoul Publishing with extensive backgrounds in global communications and media relations.

World’s Fair Communications will offer a range of services, including media relations, crisis communication, brand identity, and content strategy, focusing on elevating the global communications footprint of Cypriot businesses.

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Experienced Leadership

Radow and Schultz bring over four decades of combined experience in media and public relations. Their previous roles at TheSoul Publishing and other high-profile companies have equipped them with the expertise needed to navigate the complexities of global communications. Their leadership is expected to drive the agency’s success in helping Cypriot companies achieve international recognition.

TheSoul Publishing’s Vision

Arthur Mamedov, CEO of TheSoul Publishing, expressed excitement about the new venture, highlighting the successful collaboration with Radow and Schultz in building TheSoul’s global communications department. The new agency aims to replicate and expand these successes to benefit other Cypriot companies, leveraging TheSoul’s strategic communication capabilities.

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Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.