The aid package for Greece must tackle the country's economic weaknesses from the ground up, European Central Bank Vice-President Lucas Papademos said on Tuesday. Papademos, a former head of the Bank of
The euro slipped on Tuesday after Germany demanded painful new austerity measures from Greece in return for badly needed financial aid, with investors likely set to push high risk European sovereign bond
Revenue from tourism rose by 14.3% in March 2010 to reach EUR 65.6 mln compared with EUR 57.4 mln in the corresponding month of the previous year. Tourism arrivals in the same
Retail trade in Cyprus was still down over the year earlier in February, according to preliminary figures from the Statistical Service. The turnover volume index of retail trade (except automotive fuel) is
Greece must commit to further savings measures and show it can return to a sustainable economic path before Germany can approve emergency aid, Chancellor Angela Merkel said on Monday. "We need a
The European Commission said on Monday it was not in a position to say when talks on triggering a joint European Union-International Monetary Fund aid package for Greece would end. A Commission
Cyprus's earnings from tourism rose 3.5 percent in the first quarter of the year, bolstered by earlier Easter holidays, data showed on Monday. Tourism, which accounts for 11 percent of gross domestic
Oil rose on Monday, pushing Brent crude to a fresh 18-month high, as robust manufacturing and home sales data in the United States buoyed hopes of a sustained economic rebound in the
A serious stock overhang, weakening occupational and investment demand and the consequences of a worsening Greek banking situation do not bode well for the Cypriot real estate market, made worse as speculative
Popular with Cypriots to Australia, South Africa Barely a year into its operation to Cyprus and Etihad Airways is already enjoying a steady growth in its business with plans to add a
