Cyprus, despite the financial crisis, can offer foreign and local investors an excellent platform for export trade, President Demetris Christofias has said. Addressing a ceremony for the 2011 Export Awards, Christofias said the government aims at "creating an economy with solid foundations capable of withstanding the shocks from the broad financial recession facing Cyprus as
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The Cabinet has approved the establishment of the Energy Policy Council with a view to hold regular briefings and exchange of views between the Minister of Commerce and parliamentary parties on energy matters. “The Council is a purely advisory body and its objective is to hold regular and thorough briefings and exchange of views between
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– Unclear if chemistry or electrical issue – safety agency Japan's transport safety agency said it is still unclear whether battery chemistry or an electrical issue caused a main battery on a Boeing Co 787 Dreamliner operated by All Nippon Airways to overheat last month, forcing it to make an emergency landing. Investigators may
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Leon Lieser has been a coal miner 49 years, his bent fingers testament to his first job, loading coal by hand into a bucket. Mining also led to a hip replacement and a knee replacement. He loves his job and his industry, despite what it has done to his body. "It's a way of life.
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The euro and oil fell on Tuesday while European shares were largely flat as renewed worries over political risks in the euro zone trimmed demand for riskier assets for a second day. A rise in political uncertainty in Spain, where the prime minister is facing calls to resign, and in Italy, which holds a general
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GlaxoSmithKline Plc has lifted its stake in its publicly-listed Indian consumer healthcare subsidiary to 72.5 percent from 43.2 percent, deepening its footprint in emerging markets and non-prescription products. David Redfern, GSK's chief strategy officer, said on Tuesday the transaction – valued at 48 billion Indian rupees ($901 million) or 568 million pounds – would further
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Barclays set aside another 1 billion pounds ($1.6 billion) to compensate customers for mis-selling products, dropping another British banking bombshell as the industry struggles with the scale of redress for past misdemeanors. UK banks are embroiled in two separate mis-selling scandals, and Barclays said on Tuesday it had made an extra provision of 600 million
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The Natural Gas Public Company (DEFA) announced Monday that 8 Interested Parties submitted Monday their binding proposals, for the Expression of Interest procedure which was initiated on 27th September 2012 for the short term supply of Natural Gas to Cyprus. DEFA noted that is evaluating the proposals. For the first stage of the Expression of
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The number of building permits authorised by municipal authorities and district administration offices fell by 7.8% over the year earlier in November 2012 to 554. The total area authorised fell by 6.5% to 143,8 thousand square metres However, the total value of these permits rose by 2.2% to EUR 148.3 mln. These building permits provide
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The pace of decline in retail sales eased to 3.2% over the year earlier in November, according to preliminary figures. Retail sales had dropped over the year earlier by 3.8% in October and had it a nadir of 6.4% in July. Sales of electrical goods tumbled by 21.9%, while non-specified sales fell by 10.9%. The
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