The Group of Cyprus Airways recorded a loss of 32.1 million Euro, after tax, in the first ha1f of 2012 in comparison to a loss of 29.3 million Euro for the respective period of 2011, which is higher by 2.8 million Euro. According to an announcement issued by the Cyprus Airways, this increase in the
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A high ranking Cypriot delegation is in Israel to discuss the possibility of transferring to Cyprus natural gas from Israeli deposits as an interim solution, prior to exploitation of reserves found in Cyprus’ exclusive economic zone. “Cypriot officials are visiting Israel to discuss with Israeli officials the possibility of transferring to Cyprus natural gas from
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Asian shares rose on Monday after U.S. Federal Reserve Chairman Ben Bernanke kept the door open for further stimulus if needed, while weak economic indicators across the region raised hopes for additional growth-bolstering steps in Asia as well. Bernanke stopped short of clearly signalling an imminent move last week, prompting investors to turn to reports
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Austrian Foreign Minister Michael Spindelegger opposes giving hard-pressed Greece more leeway to meet terms of an international bailout, he told a newspaper. "I favour (the stance) that the Greeks now have to respect adamantly the conditions negotiated with the EU, that the Troika reviews this, and that Greece gets more money only if it really
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Cyprus Popular Bank, the island's second largest lender nationalised after booking heavy exposure to Greece, posted record first-half losses of 1.3 billion euros on Friday after jacking up provisions at its Greek operations. The 1.3 billion euro loss, against a 202 million loss in the first half of 2011, incorporates a goodwill impairment charge related
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Triple 5, the Canadian investment giant and mall operator whose promises to the Cypriot government have yet to materialise, is now having cold feet over its supposed investment in troubled national carrier, Cyprus Airways. Two consultancies have reportedly told Triple 5 that the CAIR deal would not be profitable and that even with cutbacks it
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The University of Central Lancashire Cyprus has been granted a provisional academic license by the Ministry of Education and Culture for the establishment of the first British university on the island. It will commence operations in October at a new, 53 mln euro campus in Larnaca’s Pyla area. UCLan has a focus on applied research
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The International Monetary Fund's number two official on Friday expressed cautious optimism that Greece would take the necessary steps to put its bailout program back on track. "We believe that the prime minister, the finance minister are dedicated to finding an appropriate path for adjustment, getting things back on track and we're trying to help,"
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Greece plans to further slash pensions, social spending and public sector wages to find the bulk of nearly 12 billion euros of savings required to satisfy lenders, according to a draft list of measures obtained by Reuters on Friday. The draft list includes a controversial plan to dismiss civil servants, a move that will test
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A college teacher who has confessed to killing two women in the Russian city of Kazan says he scrawled "Free Pussy Riot" in blood on their apartment wall to mislead investigators, police said on Friday. The initial hint that the killer was inspired by the actions of the Pussy Riot punk band, three of whose
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