Minister of Communications and Works Nicos Nikolaides has denounced the refusal of Turkey to cooperate with Cyprus’ air traffic control services and to allow the use of its airspace by Cypriot airlines. Addressing the Annual European Air Safety Conference, taking place in Cyprus, Nikolaides said that despite the devastating consequences on Cyprus aviation infrastructure, due
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Cypriot MP Maria Kyriakou has proposed the preparation of Euro-Mediterranean joint programmes to boost the tourist industry in Europe and the Mediterranean. Speaking before the 5th Euro – Mediterranean Parliamentary Assembly’s (EMPA) Plenary Session, in Brussels, Kyriakou said that the tourist industry is very important for the economies of the Mediterranean countries, adding that joint
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Air Berlin is in advanced talks for a cross-shareholding with TUI Travel's TUIfly, Air Berlin said on Tuesday, hailing the end of a lengthy struggle to consolidate the German airline industry. Under the planned deal, Air Berlin would take a stake of up to 20 percent in TUIfly, which would in turn acquire a corresponding
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World stocks eased on Tuesday as a five-day winning streak ran out of steam with investors tempering early optimism, but moves by the Bank of Japan to shore up its banking system helped to limit losses. Data released by American Express and Citigroup showing U.S. credit card defaults rising to 20-year highs underscored the fragility
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The Bank of Japan and the U.S. Federal Reserve look set to save their ammunition as they meet to review policy against a backdrop of tentative signs of stability returning to banks and financial markets. European stocks stumbled in early trade on Tuesday after five days of gains, highlighting the fragility of financial markets. Falls
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Chairman of the Cyprus Tourism Organisation (CTO) Panos Englezos said on Monday that the government measures to boost Cypriot tourism have borne fruit and that the prices of packages have been reduced. Speaking before the House of Representatives Committee of Finance, Englezos assured that every effort was being made by the Organisation and the government,
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Britain's leading share index fell 0.8 percent early on Tuesday, as worries on the demand outlook dogged commodity stocks, while weak results from American Express sharpened fears in the banking sector. By 0902 GMT the FTSE 100 index had fallen 30.64 points to 3,833.35 after closing 2.9 percent higher on Monday for its sixth gain
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Asian stocks jumped to a one-month high on Tuesday, with banks extending gains on hopes the struggling global financial system is stabilising, despite reports showing the U.S. economy is deteriorating further. Major European stocks were expected to open slightly lower, with dealers expected to pause after a five-day winning streak. The dollar edged higher against
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British Prime Minister Gordon Brown, lagging in opinion polls, said on Tuesday he wished he had done more to impose better regulation earlier and took full responsibility for his role in the economic crisis. In an interview with the Guardian newspaper, the former finance minister also said he could not rule out further economic stimulus
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The key to the solution of the Cyprus problem lies in Ankara, Cypriot MPs have told a delegation of the Canadian Branch of the Commonwealth Parliamentary Association (CPA), stressing the need for more intense efforts by the international community towards this direction. According to an official announcement issued here on Monday, the members of the
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