The Archbishopric may sue the Board members of Hellenic Copper Mines Ltd., including its Chairman Constantinos Loizides for mismanagement and as part of its attempt to reduce its obligations now reported at CYP 7 mln. Hellenic Copper Mines Ltd, in which the Church holds a 39.96% stake through Hellenic Mining Corporation (EME), faces a massive

Cyprus, along with five new member states is lobbying to reduce the fines likely to be imposed by Brussels for allowing speculative sugar hoarding in the run-up to EU membership, but a final decision may be delayed until the summer. EU officials appear to favour a decision to postpone a decision on the level of

The government is considering a CYP 60 mln bail-out for troubled national carrier Cyprus Airways and is seeking European Commisison for such state aid. Communications Minister Harris Thrasou met CAIR unions on Saturday along with the Finance Minister Makis Keravnos. The two ministers hope to grant a CYP 30 mln ‘rescue plan’ loan, followed by