. During the ACCA’s centennial celebrations a decade ago, marked in Cyprus together with the local accounting body, ICPAC, the then-chef executive Allen Blewitt admitted that “there is no perfect answer to stopping fraud.” Referring to the accounting scandals of Enron, WorldCom and Parmalat, Blewitt had added that “with the best will in the world,
More
* Not enough gas in Cyprus for plant, says Noble’s Tomich * The issue of future Cyprus natural gas exports being piped to a liquefaction plant in Egypt will probably top the agenda of the mini-summit in Cairo on Saturday, following confirmation by the leading exploration company in the area that output from offshore gasfields
More
The Bank of Cyprus said on Monday it has completed the sale and transfer of its UK loan portfolio of mainly residential and commercial real estate-backed facilities worth EUR 325 mln, to Mars Capital Finance, which is a mortgage lender and administrator regulated by the Financial Conduct Authority of the UK, and to Camael Mortgages.
More
Daily Report By Jameel Ahmad, Chief Market Analyst at FXTM Monday was officially PMI day, where a variety of global PMI announcements attracted the attention of the financial markets. In truth, the PMI releases continued to paint a similar picture to what has been emerging for a while now showing that there is indeed a
More
Etihad Airways, the national airline of the United Arab Emirates, reported total revenues of US$1.8 billion for the third quarter of 2014, an impressive increase of 29 per cent year-on-year, achieved on the back of accelerated passenger and cargo growth during the summer. A total of 3.9 million passengers travelled with Etihad Airways between July
More
DHL launches the first unmanned aircraft for a unique pilot project. Taking place for the first time worldwide, medications and other urgently needed goods will be delivered to the North Sea island of Juist, in Germany, by DHL flying ‘delivery drones’. This research project represents the first and only time in Europe that a flight
More
Hermes Airports announces the launch of Germanwings routes to Cyprus. The German airline which is a subsidiary company of Lufthansa, will connect Larnaka with Cologne, Germany. The route commences on 1st November on a weekly basis, every Saturday. The launch of Germanwings’ flights to Cyprus is expected to contribute significantly to the efforts of reviving
More
Euro area annual inflation is expected to be 0.4% in October, up from 0.3% in September, according to a flash estimate from Eurostat, the statistical office of the European Union. In relation to the main components of euro area inflation, services is expected to have the highest annual rate in October (1.2%, compared with 1.1%
More
Cyprus unemployment fell in September to 15.1% or 65.000 people in absolute numbers, from 15.4% in August, Eurostat, the statistical office of the European Union, said on Friday. The unemployment rate among men was 16.3%, 13.8% among women and 34.9% or 15.000 among young people under 25 years, according to Eurostat. The euro area (EA18)
More
Cyprus is preparing the legislation to promote “Pay as you throw” programs in local authorities, with the competent government department unveiling in November two regulations for public consultation. According to Costas Hadjipanayiotou, the Director of the Department of Environment, the two regulations concern the new strategy for municipal waste management and the prevention and reduction
More