By Demetris Vakis, Partner, KPMG Advisory Services  At last! The irrevocable exchange rate between the Cyprus Pound and the Euro has been fixed for the changeover. One Euro equals exactly 0,585274 Pounds! So, what next? Of course, the most evident of the requirements of the relevant law is the need for dual display of
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By Dr. Jim Leontiades, Cyprus International Institute of Management  Today’s investor faces a unique situation. Rarely have the world’s equity markets been so buoyant. Whether you look East or West, developed or emerging markets, the story is the same, a general upward movement in share prices that has few historical parallels. But wait, hasn’t
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Tourism arrivals in Cyprus rose for the first time for almost a year in June. On the basis of the results of the passengers’ survey, arrivals of tourists reached 282,465 in June 2007 compared with 280,164 in June 2006, recording an increase of 0.8%. This was the first year-on-year increase since July 2006. The tourism
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Athanasios Orphanides, the Governor of the Central Bank of Cyprus, will take part in a meeting of the European Central Bank Board of Directors on Thuesday, July 19, for the first time since the decision of ECOFIN to allow Cyprus’ accession to the eurozone. Orphanides left Wednesday for Frankfurt where the meeting will take place.
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Cyprus Airways pilots have announced they will go on a five-hour strike on Saturday, July 21, which will affect about 1200 passengers on flights to and from Paris, London, Manchester and Athens.The troubled state-controlled airline’s management has condemned the strike, called to protest “the violation of the terms of the collective agreement,†according to the
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A blaze that has swept across ten square kilomtres of land, burning a house to the ground, barns, greenhouses and cultivated land, has left residents of Kalavasos area “crying over the rubbleâ€, as the local community chief Michalis Soteriou said, while the government is making plans to support the affected citizens. Minister of Agriculture Photis
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Standard & Poor’s Ratings Services said that it raised its foreign and local currency long-term sovereign credit ratings on the Kingdom of Saudi Arabia to ‘AA-‘ from ‘A+’. At the same time, the local and foreign currency short-term ratings were raised to ‘A-1+’ from ‘A-1’. The outlook is stable. Standard & Poor’s also raised the
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Standard & Poor’s Ratings Services said today it raised its long-term sovereign credit rating on the State of Kuwait to ‘AA-‘ from ‘A+’. At the same time, the short-term ‘A-1+’ sovereign credit rating was also affirmed. The outlook is stable. In addition, Standard & Poor’s raised its transfer and convertibility assessment on Kuwait to ‘AA+’
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Governments around the world are taking new and stronger measures to quell interpersonal violence and its life-long health consequences, a new World Health Organization (WHO) report shows. This week in Scotland, two hundred of the world’s leading experts in preventing violence gather for “Milestones 2007”, to assess the advances that have been made, identify strategies
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A Cyprus National Guard officer will participate at the celebration events organized in Brussels on July 21 on the occasion of the 50th anniversary of the signing of the Treaty of Rome and the National Day of Belgium, bearing the flag of the Cyprus Republic. A press release issued by the Defence Ministry here said
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