The chapter of governance and power sharing and particularly the executive will be the first issue Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will discuss at the first meeting of the second round of the ongoing UN-led direct negotiations, on September 3rd. Special Adviser of the UNSG for Cyprus, Alexander Downer,
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For the first time in 45 years, two ambulances have crossed to and from Cyprus’ northern Turkish-occupied areas, in a pilot scheme, ahead of the anticipated opening of a crossing point at Limnitis village, on the northwestern coast of the island. Limnitis crossing point, in the Turkish occupied part of Cyprus, opened on Thursday for
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The Finance Ministry and the Central Bank decided on Thursday to create the legal framework for the issue of covered bonds of approximately three billion euro in a bid to inject additional liquidity into the Cypriot market. Finance Minister Charilaos Stavrakis and representatives of the Cyprus Central Bank (CCB), the commercial banks and employers associations
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Asian stocks dipped on Friday as investors nervously awaited a key U.S. jobs report, while the Australian dollar got only a brief lift despite signals from the central bank that interest rates could rise over time. U.S. President Barack Obama told a crowd in Virginia that he saw the "very beginnings" of the end of
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Total sales of petroleum products in June 2009 recorded an increase of 7.4% compared to the previous month. The Statistical Service said that a considerable rise was recorded in the sales of Asphalt, Unleaded Motor Gasoline, and Gasoil, while a decrease was recorded in the sales of Lubricants and Gasoil for Agriculture use. The total
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The number of unemployed registered at the District Labour Offices on the last day of July 2009 reached 17,989, a rise of 51.4% compared with July 2008. However, the pace of increase was not as high as in June (59.3%), or in May, when the increase peaked at 63.8%. The main increase compared with last
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Cyprus recorded a negative annual inflation rate for the first time in 23 years in July, as consumer prices fell by 0.8% compared with July 2008. The last time Cyprus recorded negative annual inflation was in October 1986. The biggest fall was recorded in transport, down 11.1%, where prices were depressed by falling international oil
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U.S. crude prices fell nearly $1 to around $71 a barrel on Thursday on oversupply, retreating from the highest level since late June, and North Sea Brent crude briefly touched a record for 2009. A 1 percent rally in European shares sparked the initial jump but persistent concerns about surplus stocks in the world's largest
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U.S. stocks slipped on Thursday as drops in telecommunications and biotechnology stocks offset optimism about the economy spurred by a sharp fall in the number of workers filing new claims for jobless benefits. Cisco Systems Inc (CSCO.O), the world's largest network equipment manufacturer and a Dow component, was among the top drags in the Nasdaq
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U.S. retailers reported disappointing sales declines for July, suggesting shoppers are still searching for bargains and basics in the downturn. July's results mark the 11th consecutive month of falling sales at stores open for at least one year, a measure known as same-store sales. A few chains, including Macy's Inc (M.N), gave upbeat profit forecasts
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