Leading international economists urged G20 leaders meeting in London to reject protectionism and promote free trade as they seek to thrash out plans to deal with a global economic downturn. More than 2,000 dignitaries and academics including a Nobel prize-winning economist signed a petition warning against "dangerous and foolish" protectionism and equating free trade with
More
In a surprise move that could set the stage for a vicious price war among airlines, easyJet has slashed its single fare from Larnaca to Gatwick to a mere 19 euros, as the budget airline desperately tries to cash in on the ethnic market of Cypriots travelling to Britain and the high volume of student
More
Russia's gas export monopoly Gazprom said on Tuesday its European gas exports are likely to fall more than it had previously expected as the global financial crisis hit demand Gazprom's deputy chairman Alexander Medvedev said that exports were expected to fall to 140 billion cubic metres (bcm) in 2009, down by over 17 percent from
More
China on Tuesday rejected a report suggesting it may be involved in using computer networks to spy on exiled Tibetans and foreign governments, accusing its authors of being possessed by "the ghost of the Cold War". China has been repeatedly accused of using the Internet to secretly enter computer networks abroad to carry out sabotage
More
Iran agreed on Tuesday to U.S. pleas to help fight drugs trafficking in Afghanistan, joining U.S. Secretary of State Hillary Clinton for the first time at an international meeting in the Hague. Iran's deputy foreign minister Mohammad Mehdi Akhoundzadeh, however, also took a swipe at Washington and reaffirmed his country's rejection of foreign troops in
More
Euro zone inflation plunged to an all-time low in March, data showed, boosting the case for a deep interest rate cut by the European Central Bank on Thursday. The European Union's statistics office, Eurostat, said on Tuesday that inflation in the 16 countries using the euro fell to 0.6 percent year-on-year from February's 1.2 percent,
More
Iran plans to halt diesel imports from next month as it uses rising gas production to generate more power, a top Iranian official said on Tuesday. The world's fourth-largest crude exporter had made no allocation for buying diesel in the budget for the calendar year starting on March 21 as Tehran expects new gas output
More
Cyprus Minister of Communications and Works Nicos Nicolaides discussed during the EU Transport Council the issue of Turkey’s refusal to allow Cypriot aircrafts to use its air space. Nicolaides met on the sideline of the Council meeting with European Commission Director of Air Transport Daniel Calleja, with whom he discussed Turkey’s refusal to allow the
More
Minister of Finance Charilaos Stavrakis has expressed satisfaction with the increase of Russian deposits in Cypriot banks. In statements on the sidelines of the Cyprus Export Award Ceremony for 2007, Stavrakis noted that the latest official data by the Central Bank of Cyprus indicate an increase of Russian deposits in Cyprus. “This is a very
More
The European Commission and EU Member States have decided to lower further the fees payable to the Community agency responsible for granting EU-wide trade mark rights, OHIM (Office for the Harmonization in the Internal Market, located in Alicante, Spain), and to simplify the registration procedure. This measure, which follows an initial reduction in 2005 (IP/05/1289),
More