The NK Shacolas (Holdings) as well as the Cyprus Trading Corporation Plc (CTC) and Woolworth (Cyprus) Properties Plc (FWW) announced that within the framework of the Groups’ reorganization, they have agreed to dispose their 50% stake (30,000 shares) of the issued share capital of CTC-ARI Airports to Ermes Department Stores (ERME), so that all retail
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Cyprus Airways Public Ltd (CAIR) announced that it has signed a Letter of Intent with an Irish company for the leasing of two A320 aircrafts for a six-month period with an option of renewal (on behalf of CAIR), for one or both lease contracts, under the same terms and for an additional 1-year or 2-year
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Asian shares fell on Tuesday, with Japan's Nikkei flirting with a 26-year low, as concerns grew about the global financial system, while emerging currencies such as the South Korean won extended their recent sell-off. Strong gains in Asian shares on Monday were completely erased as optimism over reports that the U.S. government could take a
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The United States vowed to prop up ailing banks if needed, with the government set to take a bigger stake in Citigroup and inject yet more cash into insurer AIG, even as a Federal Reserve official urged that such interventions should be short term. In Japan, Finance Minister Kaoru Yosano said the government would consider
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Acting President of the Republic of Cyprus and President of the House of Representatives Marios Garoyian has held a meeting with members of the Nicosia Chamber of Commerce and Industry (EVEL) with whom he exchanged views on issues concerning the economy. In statements after the meeting, Garoyian said he expressed his views on the current
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Cyprus and Serbia singed two bilateral agreements and one memorandum of understanding, which provide the grounds for the further deepening and consolidation of their cooperation both bilaterally and internationally. The three documents, an agreement on Tourism and an agreement on cooperation in combating terrorism, organised crime and illegal trafficking of drugs, psychotropic substances and their
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EU financial aid for the energy sector of Cyprus is inadequate, Permanent Secretary of the Cyprus Foreign Ministry Nicholaos Emiliou has said during a meeting of the EU General Affairs and External Relations Council. According to an official announcement, issued here today, the preparation of the of the Spring European Council that will take place
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President of the EU Committee of Regions (CoR), Luc Van den Brande, wished here Monday that a solution will be achieved in the Cyprus problem the soonest possible and the reunification of the island and its people will become a reality. Van den Brande who is paying a visit to Cyprus at the invitation of
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U.S. agencies detailed financial rescue plans on Monday and insisted they did not want to nationalize banks as investors fretted over how struggling firms will cope with rising recession-driven losses. In a joint statement released shortly before U.S. stock markets opened on Monday, the Treasury Department, Federal Reserve and three other federal agencies said they
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U.S. banking regulators on Monday pledged to provide more capital to banks as needed and keep large institutions viable through a new capital assessment program to be launched on Wednesday. "The U.S. government stands firmly behind the banking system during this period of financial strain to ensure it will be able to perform its key
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