A Russian court cut the 13-year prison term of the business partner of jailed ex-oil tycoon Mikhail Khodorkovsky by more than three years on Wednesday, handing him a rare legal victory in a case he and his lawyers say was politically motivated. The ruling by a court in northern Russia in response to an appeal
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Over a million people are expected to move to and from Larnaca and Pafos airports in August, Hermes Airports Spokesman Adamos Aspris has said. In statements he made to the Press, Aspris said over four and a half thousand flights will use Larnaca airport whilst about one thousand seven hundred flights will land and take
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Bank of England Governor Mervyn King said on Wednesday that domestic deficit-cutting, tight credit conditions and the euro zone crisis were making it difficult for the British economy to recover from recession. "Our efforts to bring about a rebalancing of the UK economy will require patience," he told a news conference. "The overall outlook for
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A Syrian rebel group said on Wednesday it had killed a Russian general working as an adviser to Syria's ministry of defence in an operation in the western Ghouta region on the outskirts of the capital Damascus. A video statement from a group calling itself the "Hawks Special Operations Battalion … a division of the
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* Coalition partners resume work on austerity cuts * Greece will issue additional T-bills to pay a government bond that matures later this month and avoid default while it awaits a delayed tranche of aid. Cash-strapped and behind targets agreed under a 130 bln euro financial rescue package, Athens faces a 3.2 bln euro bond
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. The latest gaffe by the communist-led administration confirms the concerns of many that all decisions in Cyprus are based on party politics and a measure of who-you-know, as opposed to competence and merit, supposedly for the good of the nation. The recent leak of reasons for the reappointment or replacement of semi-government board members
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. By George Mouskides President, Association for the Promotion of Property Development and Manager, FOX Smart Estate Agency The focal point of discussions during the past few weeks has been the state deficit and suggestions of how to slash it. Suggested steps range from taxing wealth and luxury cars to taxing houses over 300 sq.m.
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. By Peter Leonidou, Head of Sales at Alpari FS On Monday, June 25, Cyprus became the fifth country to request a euro zone bailout, out of the 17 countries that use the euro currency. With an official bailout request of 1.8 billion euros – 10% of the Cyprus economy – the potential bailout and
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Mytilineos Holding is scheduled to show a mixed picture as it announces its 2Q results on Wednesday. A significant contribution is expected from the electricity division on the commercial operation of two CCGT power plants as well as a satisfactory performance by Metka. On the other hand, Aluminium of Greece will continue to be impacted
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Metka is scheduled to announce its 2Q results Wednesday with analysts expecting another good performance driven by foreign projects, especially in Turkey and Syria. Given that 2011 was a record year for Metka, the comparison with the same quarter last year is unfavourable mainly due to the completion of domestic projects. “We forecast group sales
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