The European Commission has received the unanimous opinion of its Air Safety Committee on the fourth update of the Community list of airlines banned in the European Union. On this basis, an operating ban to all Indonesian airlines as well as to the Angolan flag carrier, TAAG Angolan airlines, and to Volare Aviation Enterprise from
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The European Commission is taking legal action against 11 Member States for not designating sufficient Special Protected Areas for migratory and vulnerable wild bird species. This violates the EU’s directive on the conservation of wild birds. The Commission is taking Austria, Germany and Poland to the European Court of Justice (ECJ) and sending first written
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SFS Group Public Company Ltd (SFS) announced that it has proceeded with the disposal of plots of land in the Paphos district for CYP14.0 mln (EUR24.1m) and proceeded with a significant revision to its forecasted profits for 2007. According to the announcement, the profit before tax relating to the aforementioned disposal is estimated at CYP4.4
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Alliance International Reinsurance Public Company Ltd (ALL) announced that A.M. Best, the international insurance rating agency, has affirmed Alliance Re’s financial strength rating (FSR) of B++ (Very Good) and the Company’s issuer credit rating (ICR) of “bbbâ€.The outlook for the FSR remains stable and the outlook for the ICR has been revised to positive from
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The Greek government successfully placed a 10.7 percent stake in Greece’s dominant phone operator, OTE Telecom at the top of the price range. The placement referred to the sale of 52.5 mln shares of OTE within the price range of EUR 20.8-21.4 raising a total of EUR 1 bln. The placement was made through an
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The Turnover Volume Index of Retail Trade for March 2007 increased by 19.8 units or 18.2% to 128.7 units compared to 108.9 in February 2007. For the period January-March 2007 the Index recorded an increase of 7.2% compared to the corresponding period of 2006. According to provisional estimates the Turnover Volume Index of Retail Trade
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In the three years of Cyprus joining the European Union, the Commission has recruited 77 Cypriots as administrative and support personnel for jobs on the island, in Brussels or elsewhere. Correcting an earlier mistaken announcement released by the European Commission, 77 Greek and Turkish Cypriots had been recruited in AD (administration) and AST (support officers)
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Looks set to meet the Maastricht criteria comfortably for euro adoption  PricewaterhouseCoopers’ latest economic analysis points to continued strength in the Cypriot economy during 2007 and 2008. The economy is expected to grow by 3.9% in 2007 and 3.8% in 2008, easily outperforming the Euroland average economic growth rates in both years. Once again,
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‘The Enterprising Presidency: Mobilizing Business for Economic Growth and Social Change’ is the theme of the latest in the Distinguished Lecture Series of the Cyprus International Institute of Management (CIIM), to be held at its premises on Thursday, June 28, at 7 pm. The speaker is Dr Alejandro Toledo, former President of Peru, internationally acclaimed
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The CFA Society of Cyprus organized a reception on June 11 to celebrate the 60th anniversary of the CFA Institute and the founding of the investment profession. Present at the ceremony were professionals from the financial industry and members of the CFA Society of Cyprus. The CFA Society of Cyprus is a member society of
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