British Airways is currently analysing a number of creative ideas put forward by the young consultants of its Kids’ Council, to assess if they can further develop the quality of service and products available to young travellers. A new meeting of the 12-member Kids’ Council – of which 12-year-old Pavlos Dekatris from Nicosia is a
More
Standard & Poor's Ratings Services said that it revised its Banking Industry Country Risk Assessment (BICRA) on The Russian Federation to Group 7 from Group 8. (See "Banking Industry Country Risk Assessment On Russia Revised To Group 7 From Group 8," published today on RatingsDirect.) At the same time, Standard & Poor's changed its assessment
More
The massive development project to transform the port of Larnaca into the eastern Mediterranean’s leading cruise ship hub has taken a significant step forward with the Ministry of Communications and Works awarding the EUR 1 bln first phase contract to the Zenon Consortium, which includes the two leading cruise lines Costa and Louis. Zenon beat
More
The joint venture partners of the 1000-berth Limassol marina project held a public hearing in the town hall last week to discuss details of the new development that is expected to cost more than EUR 250 mln. “This is a unique new project that will project Limassol as a leading seafaring and recreation centre in
More
Louis Cruise Lines has concluded a deal to buy the 731-berth Norwegian Majesty from Star Cruises at a cost of EUR 103 mln (USD 162 mln), and will add the Norwegian Dream to its fleet in a separate deal in September, making it the fifth biggest cruise company in the world. In an announcement issued
More
Capital Intelligence, the international credit rating agency, has revised the outlook on Lebanon’s B-minus long-term foreign and local currency ratings to ‘stable’ from ‘negative’. The outlook on the B-minus long-term foreign currency ratings of six Lebanese banks – Bank Audi-Audi Saradar Group, BBAC, BLOM Bank, Byblos Bank, Credit Libanais and Fransabank – has also been
More
Moody's Investors Service reported in its UK Credit Card Index Report that the UK credit card ABS sector may witness deterioration over the coming months despite relatively stable credit card indicators reported in June 2008. "Although the indices indicate a relatively benign trend at present, Moody's expects a rise in delinquencies and charge-offs over the
More
Austrian-based energy giant OMV has revokes its intention published last September to make an offer to shareholders of Hungary’s MOL after the European Commission indicated that it would not accept commitments that OMV had proposed. Further pursuit of a proposed combination with MOL under given conditions would be against OMV’s economic and strategic rationale, the
More
Motorola, Inc. announced it has signed multiple contracts worth US $431 mln with China Mobile Communications Corporation (CMCC) for its GSM network upgrades and expansion. The contracts were signed in the first half of 2008 and reflect Motorola's position as a global leader in GSM network solutions. Approximately 50% of the revenue from these contracts
More
Despite the slowdown in global growth and the increase in fares designed to absorb a part of the rise in oil prices, Air France-KLM achieved a 3.7% rise in traffic and a high load factor of 80.3% in the first quarter of the year. Premium traffic remained “dynamic”, underpinning unit revenues. The recovery in profitability
More