Deflation the only option for Greece-IMF chief

Deflation is the only way Greece can effectively tackle its debt problems, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn was quoted on Monday as saying. "The only effective remedy that remains

Cyprus could contract again in 2010 -C.Bank

Cyprus cannot rule out the possibility of negative economic growth in 2010, following a 1.7 percent contraction in 2009, Central Bank governor Athanasios Orphanides said on Monday. "Real GDP recorded a reduction

Greeks move €270 mln to Cyprus

 — €3 bln in UK and Switzerland — Wealthy Greeks and companies, spooked by the debt crisis hitting their country are believed to have moved up to EUR 3 bln out of

First wind farm takes shape in Cyprus

The first of 41 wind generators with a combined production capacity of 82 MW has gone up at the Oreites wind farm near Paphos, as part of the island’s ambitious plans to

Armenia Eurovision hopeful Eva Rivas in Cyprus

Armenia’s Eurovision song contest hopeful Eva Rivas will be in Cyprus for a number of promotional performances, including an appearance at the Sipan dance ensemble annual performance at the Strovolos Municipal Theatre

RSS Water Solutions opens Cyprus office

Rental Solutions & Services (RSS), an international provider of rental power and cooling services, including temporary desalination and mobile water equipment, has opened an office in Cyprus to serve the Mediterranean market.