Larnaca airport was shut down early Tuesday after a hijacked EgyptAir flight with 62 passengers and crew on board landed at 8.50am, with all other flights diverted to other airports. Reports suggest there are more than one hijacker. State CyBC reported that a number of passengers, estimated at 50, were seen disembarking the Airbus A320
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* €20 mln finance line to facilitate foreign trade * The European Bank for Reconstruction and Development (EBRD) is stepping up its support to Cypriot exporters and importers with a EUR 20 mln trade facility to Hellenic Bank under the EBRD’s Trade Facilitation Programme (TFP). Hellenic Bank will become the third issuing bank under the
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Geoff Barnes, CEO of Baker Tilly International, inaugurated the new building of Baker Tilly Greece, saying that the firm enjoyed balanced growth and development of specialised professional services. Marios Klitou, CEO of Baker Tilly South East Europe, highlighted that Baker Tilly Greece is committed to providing high quality professional services, and said that “twenty
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. By Oren Laurent President, Banc De Binary The Chinese economy faces a looming threat with its foreign exchange reserves, with approximately $100 bln per month exiting its shores! Wild speculation has fueled fears about the Chinese economy. There are no two ways about it: 2016 has been an annus horribilis for China. The world’s
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Investment funding to Cypriot small and medium-sized enterprises and midcaps through the Investment Plan for Europe, known as the Juncker plan, is expensive due to the risk associated with Cyprus, which is exiting a three-year economic adjustment programme, experts have told an event organised by the Representation of the European Commission in Cyprus. As
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The University of Cyprus has been included among the leading higher education institutions in the world having entered the top-200 list in this year’s rankings by subject of studies compiled by QS. UCy ranks in the 151-200 category for ‘education’, one of the 42 disciplines examined by the leading global provider of higher education
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By Lukman Otunuga, Research Analyst, FXTM The financial markets were shaken by extreme levels of volatility during trading on Tuesday following the attacks in Brussels which renewed a wave of risk aversion that encouraged anxious investors to flee from riskier assets. Stocks entered a free fall with European equities relinquishing previous gains as the events
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Standard and Poor’s (S&Ps) rating agency on Friday affirmed Cyprus’ long- and short-term sovereign credit ratings at ‘BB-/B’, with a positive outlook, saying it expected the Cypriot economy to continue to grow at more than 2% in real terms over 2016-2019, while strengthening its budgetary position and reducing government debt. The rating agency said
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Hourly labour costs dropped by -0.8 in Cyprus during the last quarter of 2015, compared to the same quarter of the previous year, according to Eurostat. Labour costs followed a downward trend also on Q3 of 2015 by -0.7%. Meanwhile, the same index rose by 1.3% in the euro area (EA19) and by 1.9%
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The job vacancy rate in Cyprus was 0.7% in the fourth quarter of 2015, up form 0.3% in the same quarter of 2014, placing the country fourth lowest amongst the EU28, according to figures published by Eurostat. The same index for the euro area was 1.6% in the fourth quarter of 2015, up from
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