Vincent Pfister, the elusive IT expert charged with stealing software and data from Limassol-based fund manager IKOS, has appeared in court to hear seven charges of theft and fraud filed by the state. He had been evading the authorities since April last year when the police filed the charge sheet in Limassol District Court. He

Korea wants to increase its commercial presence on the island, especially after one of the offshore natural gas exploration licenses south of Cyprus were awarded to the Korean gas multinational, KOGAS, in a joint venture with Italy’s ENI. Presenting hi credentials to President Demetris Christofias on Friday, Korean Ambassador Gil-sou Shin expressed the hope that

Cyprus could become one of the major natural gas liquefaction terminals in the world, Minister of Commerce, Industry and Tourism Neoclis Sylikiotis has stressed. Sylikiotis said Friday that the creation of a liquefying natural gas terminal in Vassiliko (Larnaca district) will be the greatest investment in the history of the Republic. Speaking at a press

The Cyprus seasonally-adjusted unemployment rate reached 14.7% in December 2012 compared to 14.2% in November, according to figures published on Friday by Eurostat, the statistical office of the European Union. According to Eurostat, the euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in December 2012, stable compared with November4. The EU27 unemployment rate was 10.7%,

Bank of Cyprus, the island’s biggest lender with a vast exposure to the troubled Greek market, said that 229 people took up an early retirement plan in January, helping to reduce operational costs by 8.5% on an annual basis. This is part of CEO Yiannis Kypri’s restructuring plan that includes branch closures in Cyprus and

Euro zone inflation fell more than expected in January in a sign that companies were cutting prices to entice shoppers at a time when joblessness remained at a record level at the end of 2012. The rate of consumer price inflation in the 17 countries using the euro fell to 2 percent in January compared

US investment consultant firm Pimco will deliver today its final report on the due diligence review of the Cypriot financial sector. Pimco was commissioned to carry out a due diligence review of the Cypriot financial sector and determine the capital needs of the financial institutions as part of Cyprus’ application for financial assistance from the

A powerful explosion rocked the Mexico City headquarters of state-owned oil giant Pemex on Thursday, killing at least 25 people, injuring more than 100 and trapping others inside. The mid-afternoon blast in a neighboring building shattered the lower floors of the downtown tower, throwing debris into the streets and sending frightened workers running outside. A