To meet growing passenger demand Gulf Air, Bahrain’s national carrier, today announced it will increase its flights between Bahrain and the Islamic Republic of Pakistan by 30% from 14 to 21 flights per week to accommodate increasing passenger demand. The approval to operate a greater number of flights follows the successful conclusion of negotiations last
More
The outlook for the Cyprus banking system remains negative, unchanged since May 2009, and the banks will continue to operate in a highly-stressed environment, with a 12% contraction of GDP expected in 2013 and 6.4% in 2014, Moody’s Investors Service in a new report on Thursday. The rating agency said that “the financial crisis triggered
More
Turkey has been trying for years to join the European Union, presenting itself as a growing economic and political power and a bridge to Asian and Middle Eastern markets. But the next country to join the EU's existing 28 members is more likely to be one of six small Balkan countries, five of which still
More
The U.S. dollar sagged to eight-month lows on Thursday as the U.S. government shutdown dragged on with no end in sight, though share markets found comfort in expectations major central banks might now have to keep monetary policy super-loose for longer. Also helping sentiment was an upbeat survey on China's huge services sector, an antidote
More
The Cyprus government, Noble Energy and its partners Delek Drilling and Avner Oil will simultaneously announce today the official preliminary results of the appraisal drilling for hydrocarbon reserves in block 12 of the Cyprus’ Exclusive Economic Zone (EZZ). Noble’s announcement will be made at the same time as Minister of Energy, Commerce, Industry and Tourism
More
Cyprus President Nicos Anastasiades has reiterated that natural gas will not be part of any Cyprus problem settlement talks. President Anastasiades was replying to questions during a press conference in which he briefed the press regarding the meetings he had during his visit to the US. Replying to a question as to what role natural
More
The leader of Greece's far-right Golden Dawn party was sent to jail pending trial on charges of belonging to a criminal group, a court official said on Thursday, the first such action in decades against an elected party chief. Golden Dawn leader Nikolaos Mihaloliakos appeared before investigating magistrates and a prosecutor during a six-hour plea session
More
Cyprus will be at the spotlight of international shipping on October 6-9, as the Maritime Cyprus Conference 2013 will take place in the southern coastal town of Limassol where the heart of the shipping industry beats. Titled "Shipping today," the conference will discuss the world shipping industry’s hot issues in three distinct parts namely remodeling
More
Greek refrigerator equipment maker Frigoglass will move part of its production from Romania and Turkey back home in an effort to keep its domestic plant operating and secure about 100 jobs in the austerity-hit country, it said on Wednesday. Stuck in its sixth year of recession and with record unemployment of nearly 28 percent, Greece
More
The euro zone and its currency are in better shape than they were, and less susceptible to political instability in countries like Italy, Portugal and Greece, European Central Bank President Mario Draghi said on Wednesday. Asked about the recent political problems in Italy, Draghi told a news conference that he would only speak in general
More