A new international recognition was awarded to the Cyprus International Institute of Management with the accreditation of its MBA and MPSM programmes by the European Foundation for Management Development (EFMD) with the EPAS standard of excellence. This makes the CIIM the only academic institution on the island with a triple accreditation from KYSAP/KESATS, AMBA and
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Chancellor Angela Merkel plans to use Germany‘s European Union presidency in the first half of 2007 for a last-ditch effort to save the bloc’s failed constitution while pushing forward on other key issues such as energy and security. Given the EU’s growing global role, however, Germany will also end up grappling with flashpoints in Iraq,
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After a three month absence from raising funds from the local market, the government finally made its appearance when on January 2, 2007 it decided to raise CYP 150 mln through bond and T-bill auctions, which saw yields moving higher. The total amount of funds raised through the multiple auctions amounted to CYP 150 mln,
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The euro rose to a record peak against the Japanese yen and gained solidly against the dollar as hunger for rising yields looked to be setting the tone for early 2007. EUR/USD started off on a positive footing, with the market less worried over the impact of the German VAT hike on consumption. Furthermore, ECB
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…Fuelled by M&As, backed by fundamentals  Cyprus stocks ended 2006 on a bullish note wrapping up the year with total gains of 128.79%, fuelled by mergers and acquisitions as Greek investors seized the opportunity to absorb many companies listed on the Cyprus Stock Exchange. The CSE GENX ended the year at 3900.39 points, lifting
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Former Health Minister Akkelidou of the communist AKEL party has been sworn in as a member of the 56-seat House of Representatives after Eleni Mavrou was elected Mayor of Nicosia in the December 17 municipal elections. Akkelidou, who had resigned from her cabinet post in 2005 in a scandal related to attempts to manipulate the
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Eleni Mavrou, the newly elected Mayor of Nicosia who hails from the communist party AKEL, said that she would enhance the collaboration with the Turkish Cypriots in order to promote projects for the improvement of the quality of life for both communities. In an interview with the Cyprus News Agency, Mavrou said her priorities include
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 European Health Commissioner Marcos Kyprianou said that road accidents related to alcohol are a major cause of concern in Cyprus and in the EU in general. According to public data, one in four accidents can be linked to drink driving, and at least 10.000 people are killed in alcohol-related road accidents in the EU
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Telefónica Móviles Panamá, which operates under the movistar brand, has chosen Nokia to build its GSM radio and GPRS network which will cover the whole country and enable the operator to offer mobile data and voice services. Under the agreement, Nokia delivers a GSM radio network with Nokia base stations and base station controllers, as
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The consumer price index for December shows that Cyprus managed to scrape a slight fall in the inflation rate in 2006, to 2.5% from 2.6% in 2005. The Statistical Service reported that petrol prices, which increased by 8.1%, had a significant impact on the inflation for 2006, while increases were also recorded in the categories
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