Political uncertainty over a corruption scandal and revived concerns over the economic health of the euro zone forced the Spanish Treasury to pay more to borrow at a triple-bond auction on Thursday. Demand was strong, however, and yields remained well away from crisis levels. Spain sold 1.948 billion euros ($2.6 billion) in a 2015 bond,
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British travel groups TUI Travel and Thomas Cook reported a big rise in fixed-price holiday bookings as cash-strapped Europeans opt for risk-free deals in a volatile economic climate. TUI Travel, Europe's largest tour operator, said summer bookings by Britons were up 9 percent and were 10 percent higher from the Nordic countries. "More people are
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Etihad Airways, the national carrier of the United Arab Emirates, reported net profit of US$42 mln in 2012, up 200% on 2011 ($14 mln) in a year which saw strong improvements in revenues, passengers numbers and cost control. Revenue increased 17% to $4.8 bln (2011: $4.1 bln), on passenger numbers up 23% to 10.3 mln
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The euro dipped and European shares fell on Wednesday as investors waited to see if the European Central Bank would respond to the currency's recent jump after Germany said it was not overvalued. U.S. stock index futures also pointed to a lower open on Wall Street after the benchmark S&P 500's rally of more than
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A partnership agreement was signed here today between CNA and Europarltv with a view to bring Cypriot citizens closer to EU activities. Speaking after the signing of the agreement Europarltv Director Giorgos Kasimatis expressed his satisfaction over the fact that this is Europarltv’s 150th partnership agreement. It is truly an honour to have Cyprus News
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French company Total was granted hydrocarbon exploration licenses in Cyprus’ Exclusive Economic Zone blocks 10 and 11, after signing here today two production sharing contracts with the Ministry of Commerce. In his statements, Commerce Minister Neoclis Sylikiotis said after the signing ceremony that today’s act completes one of the most crucial targets of the government’s
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US Ambassador to Cyprus, John M. Koenig, believes that after February’s presidential elections in Cyprus there will be a new opportunity in efforts to solve the Cyprus issue. Speaking after a meeting on Wednesday with the General Secretary of the Environmentalists Movement Ioanna Panagiotou, Koenig said he had a very good discussion, noting they expressed
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MTN Group announces that it has entered into an agreement for the acquisition of 50% equity interest in MTN Cyprus from its local partner, Amaracos Holdings, a company representing the interests of the Shacolas Group and the Panos Germanos Group in MTN Cyprus. At the conclusion of this transaction, MTN Group will own 100% of
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The Greek government invoked emergency legislation on Tuesday to order striking seamen back to work, threatening to arrest them unless they ended a walkout that has cut off dozens of islands from the mainland and caused shortages on grocery shelves. This is the second time in a week that the government has taken such action
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The U.S. government is seeking $5 billion in its civil lawsuit against Standard & Poor's, accusing the ratings service of defrauding investors, in one of the most ambitious cases yet from the Justice Department over conduct tied to the financial crisis. The United States said S&P inflated ratings and understated risks associated with mortgage securities,
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