For the first time in fifteen months, the Swiss franc has broken higher against the euro, reversing its three-year slide against the common currency. At the same time it also risks upsetting thousands of Cypriots who in recent years have borrowed heavily in the Swiss currency to take advantage of the low interest rates. The
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European shares extended their losses Tuesday as traders warned of more volatile swings sparked by ongoing credit crunch concerns. But Cyprus stocks bucked the declining trend and edged higher Tuesday despite shedding some  EUR 1.2 bln in market capitalisation this month alone. U.S. stocks fell after Treasury Secretary Henry Paulson admitted global financial turmoil would
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The Council of Ministers will assess in the coming weeks an evaluation report on applications by local colleges, seeking to be established as private universities, possibly to fend of the increasing recognition gained by five universities in the Turkish-occupied north of Cyprus. The Evaluation Committee of Private Universities (ECPU) of the Ministry of Education and
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Cypriots of the Diaspora reaffirmed once again their commitment to continue their struggle for justice for Cyprus and for the restoration of human rights and basic freedoms for all Cypriots. Addressing the opening ceremony of the four-day world conference in Nicosia of the Central Boards of U.S.-based PSEKA (International Coordinating Committee Justice for Cyprus) and
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The Economist Intelligence Unit (EIU) has forecast that the harmonised inflation for 2007 is expected to reach 1.7% (vs. 2.0% from the previous estimate), while for 2008 inflation is expected at 3.6% (vs. 2.0% from the previous estimate), according to the August Country Report on Cyprus. This upward revision stems from higher energy prices, the
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The Bank of Cyprus Group announces that as of 1st September 2007 Antonis Jacouris, Group General Manager Information and Operations, assumes the position of Group General Manager Bank of Cyprus Greece in place of the departing General Manager Costantinos Vassilakopoulos. Jacouris was born in Cyprus in 1947. He graduated from City of London Polytechnic and
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The 46th Wine Festival, held annually in the southern coastal town of Limmasol, the main winegrowing town of Cyprus, will officially be opened on Friday, August 24, by the Minister of Agriculture, Natural Resources and Environment Photis Photiou. The Wine Festival is hosted at the Limassol Municipal Park and includes a variety of cultural events,
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Over 100,000 students, in primary and secondary education, will report to school in early September for the new academic year, with over 10,000 teachers going back to work on 3 September after the summer recess. Education and Culture Minister Akis Kleanthous has told CNA that a total of 52,459 pupils will be at school on
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Acting Spokesman for the US State Department Gonzalo Gallegos has said that the Republic of Cyprus is a sovereign nation and has the right to invite bids for oil exploration within its own economic zone. He also said that the involvement of US firms in investments, such as the exploitation of hydrocarbon deposits in the
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Head of Millhouse Public Relations John Mann has dismissed as ”entirely false” reports in Turkish media that Roman Abramovich has invested in real estate project ”Chelsey Village” in the Turkish occupied areas of Cyprus.”On August 21, 2007, Turkish media reported that Mr. Roman Abramovich had invested in a real estate project entitled ‘Chelsey Village‘ in
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