The Bank of Cyprus board has decided to set a ceiling of 150,000 euros fro redundancy packages being offered to its 5,760 staff, with the aim of reducing the workforce by 1,200 to 1,500 people. The offer is valid until the end of July and is applicable to all Group personnel, as well as staff
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Following the successful launch of the Cyprus Safety Platform, the first symposium on Critical Infrastructure Protection and the second symposium on Man Made Disasters, the European University of Cyprus is hosting the next event on Friday, July 5. The Cyprus Safety Platform – Risk Communication Day will take place at 16:00 in Auditorium Delta of
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European Central Bank policy will keep interest rates at current or lower levels for an extended period of time, ECB President Mario Draghi said on Thursday, giving financial markets the clearest guidance to date about future rates. "The Governing Council expects the key ECB rates to remain at present or lower levels for an extended
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British Airways welcomed its first Airbus A380 jet, the world's biggest commercial aircraft, on Thursday, part of a $15 billion upgrade to top-of-the-range planes that it hopes will give it a boost in the lucrative market for long-haul business travel. The emergence of the fuel-efficient double-decker through the grey clouds over Heathrow airport in west
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The world's largest offshore wind farm, which can generate enough electricity for half a million homes, was officially opened off Britain's south-east coast on Thursday. Prime Minister David Cameron opened the 630-megawatt London Array project, which was developed by E.ON, DONG Energy and Abu Dhabi's Masdar and produced its first electricity from all its turbines
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Cyprus embassy in Egypt is on alert and ready to provide with help the Cypriot nationals who either residing or visiting Egypt after the recent developments in the country, the Director of the Consular Affairs Department of the Foreign Ministry Pantias Eliades has told CNA. Eliades said that so far no Cypriot citizen had contacted
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Russia criticised France, Spain and Portugal on Thursday for delaying the Bolivian president's flight home from Moscow this week over suspicions that former U.S. spy agency contractor Edward Snowden was on board. There is no evidence Snowden was on board and, after the initial refusals to let the plane enter the European Union member states'
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Oil slipped on Thursday from a two-week high above $106 a barrel after Egypt's armed forces toppled its president, easing concerns over the threat of supply disruption in the Middle East. The risk that turmoil in Egypt could destabilise the Middle East as well as a tightening in the U.S. oil market had sent prices
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The Egyptian judge who is due to be sworn in as interim president on Thursday took his oath of office as head of the constitutional court. Adli Mansour, who will replace Mohamed Mursi as president, had yet to be sworn in as head of the Supreme Constitutional Court. He will become head of state under
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Britain's top share index rebounded on Thursday, taking its cue from gains in Asian and U.S. stocks and strength in easyJet, although gains were limited by concerns about a political crisis in Portugal. Low-cost carrier easyJet, up 1.9 percent, was among top gainers after announcing a 1.9 percent increase in the number of passengers in
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