Cyprus Energy Regulatory Authority (CERA) approved Wednesday an extraordinary increase of 8% (6.96% plus VAT) to the final bill of all consumers of the Electricity Authority of Cyprus (EAC). Head of CERA Giorgos Shammas, announced in a press conference that the increase in electricity costs will begin to be recorded by the end of September
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Single-screen S tablet costs $488 and $599, same as iPad Sony's new tablet computers failed to excite gadget reviewers and analysts who criticised the pricing and quality of the devices, underscoring the battle Sony faces regaining its consumer electronics crown. Sony Corp is already late to the game with its first tablet, which hits stores
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France has got approval to release 1.5 billion euros ($2.16 billion) of Libyan assets to help the country's interim ruling council rebuild the country, French Foreign Minister Alain Juppe said on Thursday. Juppe, interviewed on RTL radio shortly before the start of an international conference on Libya in Paris, said the situation in Libya had
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* VAT hike to 17% expected in September * Parliament approved on Friday the Cyprus government’s first package of austerity measures aimed wrestle down its high deficit, which politicians said had been watered down in order to calm union leaders, particularly those representing civil servants and employees in the semi-government sector. Authorities say the
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* BOCY impact on equity €20 mln; MPB €56 mln; HB €23 mln * The island’s two main banks, Bank of Cyprus and Marfin Popular, have taken a hit in their first half results due to provisions for a Greek sovereign debt swap and a local bank tax aimed to boost the deficit-laden government’s coffers.
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* Judge upholds island’s reputation as being safe for IP rights * A landmark case being heard in Limassol District Court reached its conclusion last week, whereby Vincent Pfister (photo at left), a former researcher at the international hedge fund firm IKOS was found to have stolen vital codes that could have jeopardised the company
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European stocks may edge higher on Wednesday, poised to end a volatile month on a mildly stronger note, while the dollar struggled on heightened expectations that the U.S. Federal Reserve would do more to stimulate the economy. Minutes of the Fed's early August meeting released on Tuesday showed policymakers discussed a range of unusual tools
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. BY EFTHYMIOS FLOURENTZOU Minister of Communications and Works Traditionally, Cyprus and Germany have shared an excellent political and trade relationship, which became even closer following the accession of Cyprus to the European Union. The two countries maintain an open window of communication where European matters of mutual interest are discussed. Our countries share similar
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. The passage of the government’s first austerity plan last Friday hiking the pension contributions of civil servants and implementation of other measures that are supposed to achieve some cost savings was a step in the right direction, but the outlook remains bleak. The first matter of concern is the comment by the Attorney General
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. It is incomprehensible how the civil servants’ union that represents about 20% of the island’s workforce, has succeeded in the past five decades to impose itself on the private sector unions, as a result of which workers in the manufacturing, tourism, agriculture and services sectors have agreed to the watered down austerity measures the
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