The Statistical Service released further figures of Friday on turnover in various subsectors of services, which account for well over 70% of GDP. The turnover index for hotels and restaurants rose by 9.2% in April-June 2007 compared with the corresponding period of 2006. Computer and related activities rose by 11.8% in the same period. Legal,
More
The European Civil Aviation Conference (ECAC), the General Directors of which are in Cyprus for their 56th special meeting, has determined progress in the functioning of the Cyprus Department of Civil Aviation. ECAC Vice President in charge of safety Raymond Cron said Cyprus, as a member of the EU, is fully integrated in all EU
More
The ministerial committee that has been set up to deal with all the practical issues deriving from the government’s decision to undertake the cost of rebuilding Artemida village in Peloponnesus, Greece, decided on Friday to send a five-member delegation of technocrats to Artemida to evaluate the extensive damage suffered during the recent fires that caused
More
Cyprus is entering the final stretch on Saturday for adopting the Euro on 1 January 2008, when the equivalent of one Euro will be 0.585274 Cyprus pounds. As of September 1, all products will carry prices in the Cyprus pound and the Euro, a move which has been described by Minister of Finance Michalis Sarris
More
Standard & Poor’s Ratings Services said that its ratings on Barclays Bank PLC (Barclays; AA/Stable/A-1+) are not affected by recent reports concerning exposures to Structured Investment Vehicles (SIVs). Our ratings on Barclays benefit from its broad and diversified range of businesses and are not expected to be affected by its other exposures to specialist funding
More
Ericsson and Deutsche Telekom AG, one of the world’s leading integrated telecom companies with more than 111 mln mobile customers, 38 mln fixed-network lines and 13 mln broadband lines, have entered a six-year managed services partnership for the operation and maintenance of Deutsche Telekom’s microwave network in Germany. Some 200 employees will be transferred from
More
Alongside the introduction of Ovi, the door to Nokia’s new Internet services, Nokia has unveiled four new mobile devices specifically optimized for entertainment, music and games. Each device offers dedicated music or gaming keys, expanded memory, large screens and extended battery performance to provide quick and easy access to entertainment content. The devices range in
More
The European insurance industry continued to enjoy ratings stability and good results in the first half of 2007 despite external influences, Moody’s Investors Service said in a new Industry Outlook. While the operating environment should remain generally supportive to rating stability in the short term, external shocks or financial markets corrections could present a challenge
More
The John S. Latsis Public Benefit Foundation, the Latsis Group and Eurobank EFG have announced an ambitious programme estimated to cost EUR 60 mln for the reconstruction of the regions and for the support of the civilians who were affected by the devastating fires in Greece. The three groups have offered EUR 20 mln each
More
Hyperion Systems Engineering Ltd, the Cyprus-based independent Operator Training Simulator (OTS) supplier, has been awarded a project for the supply and implementation of an OTS for a refinery unit at Preem Petroleum in Sweden. The OTS solution will be implemented at the Preemraff refinery at Lysekil, Sweden, the largest oil refinery in the country, and
More