Thirteen years after abandoning rural Greece for a career in graphic design, Spiridoula Lakka finds herself in the last place she expected to end up – watering a patch of lettuce and herbs in her sleepy village. As Greece sank into its worst economic crisis since World War Two, Lakka had already given up her
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European shares, the euro and oil fell on Friday as hopes for a fresh round of global monetary policy easing dimmed and investors' focus swung back to Spain's banking crisis and the prospect of slower economic growth in Germany and China. Top European shares opened down 0.7 percent, the euro retreated to below $1.25 after
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British retailer Marks & Spencer Plc said on Friday it planned to launch an in-store banking service next month, backed by Europe's biggest bank, HSBC, providing a fresh competitor for the country's established high street banks. The group said 50 M&S Bank branches will open in M&S stores across the UK over the next two
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Patriarch Kirill Gundyaev of Moscow and all the Russians arrives in Cyprus today at the invitation of the primate of the Church of Cyprus Archbishop Chrysostomos. He will be accompanied by clerics and officials of the Church of Russia. A statement issued by the Archbishopric said that an official welcoming ceremony will take place at
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Limassol Marina, when completed, will enhance tourism in Cyprus, Minister of Commerce, Industry and Tourism Neoclis Sylikiotis stated today, after visiting the site. The Minister was briefed on the course of construction works and noted that such projects enhance the competitiveness of the country’s tourist product and provide the opportunity for the island to expand
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Tourism revenue in April declined more quickly than arrivals according to the results of the Passenger Survey. Revenue reached just EUR 114.6 mln in April, marking a 16.1% drop on the EUR 136.7 mln recorded in April 2012. Tourism numbers in the same period fell by 5.1% to 189,648. Parliamentary wranglings over individual budget lines
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Registered unemployment in Cyprus climbed in May by 31.1% reaching 34,162 at the end of the month, compared with 26,050 in May 2011. Since the beginning of 2008 registered unemployment in Cyprus has climbed by 2.5 times. Unemployment is also rising on a seasonally adjusted basis, increasing to 36,313 (seasonally adjusted) in May from 35,402
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Inflation in Cyprus decelerated to 2.9% in May 2012, compared with 3.1% in April 2012 and 3.9% in May 2011, figures released today by Cyprus Statistical Service show. The Consumer Price Index for May 2012 increased by 0.44 units or 0.37% to 120.49 units compared to 120.05 in April 2012. This is mainly due to
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The Cypriot economy will likely contract by 1.1% this year, the central bank said on Thursday as it sharply cut an earlier estimates of zero growth. Greece's sovereign debt writedown and its impact on the island's banking system, a massive munitions blast that destroyed its largest power station last year, pressure on consumer and investor
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The spokesman for Greece's far-right party Golden Dawn threw a glass of water at a female leftist politician and slapped another one in the face on live television on Thursday, causing a political uproar and leading a prosecutor to seek his arrest. The morning talk show on private television station Antenna was interrupted by the
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