Christis Christoforou re-elected CEO of Deloitte

Christis M. Christoforou has been elected Managing Partner and CEO of Deloitte Cyprus for another five-year term starting on January 1, 2009. Under the present management, Deloitte has expanded rapidly and currently

New Cyprus Justice Minister appointed

President of the Republic Demetris Christofias has appointed lawyer Loucas Louca to the post of Minister of Justice and Public Order, to replace Kypros Chrysostomides, who resigned Wednesday, Government Spokesman announced. Louca

U.S. unveils auto rescue

The United States announced a $17.4 billion loan package to rescue its stricken auto makers on Friday. General Motors will receive $13.4 bln and Chrysler LLC will get $4 bln of the

Turkey urges EU to push for Cyprus talks

Turkey urged the European Union on Friday to push Greek Cypriots towards a reunification deal for the divided island, saying a window of opportunity in talks could close if there was no

Oil drops below $36, touches fresh 4-yr low

Oil fell below $36 on Friday to its lowest level in more than four years as the global economic slowdown overshadowed OPEC's record supply cuts. U.S. light crude for January delivery  were