The government printing press in Cyprus started rolling again after a candidate in next month’s presidential elections used the Guinness World Records logo as his ballot logo without their permission. The embarrassing moment will set cash-strapped taxpayers back by at least 40,000 euros with 80,000 of the 575,000 ballot papers that were recalled and destroyed
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Germany plans a modest reform of its banking sector that puts a cap on risky activities but would not lead to the breakup of banks or significantly impact big institutions like flagship lender Deutsche Bank, according to a draft law seen by Reuters. The draft from the finance ministry, which is expected to go to
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Economic Sentiment Indicator (ESI) improved in Cyprus and the euro area in January, the European Commission said Wednesday. In January the ESI increased by 1.4 points in both the EU (to 90.6) and the euro area (to 89.2). In the EU, confidence improved in services, construction, retail trade and among consumers, while deteriorating slightly in
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The German government said on Wednesday the euro zone had not yet taken any decision on a bailout request from Cyprus while Berlin`s own position has not changed since last week’s meeting of finance Ministers from the currency zone. "There is no new position on Cyprus. Germany, just like its European partners, has not yet
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Cyprus could cause wider problems for the euro zone if a bailout for the country is not agreed soon, said Jean-Claude Juncker, who stepped down as chairman of the euro zone`s finance ministers group last week. "One should not underestimate the Cyprus problem," the ex-Eurogroup head told Austria`s Kleine Zeitung in an interview published on
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Limassol Marina has welcomed its first residents with the turn of the year. The delivery of the 94 luxury apartments and penthouses at Nereids Residences marks the beginning of the project’s first operational year. Mr Takis Palekythritis, General Manager of Limassol Marina Ltd, expressed his pride in this important first stage of completion. “We have
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* Gov't "liquid" until end-April * The inability of the outgoing administration to conclude a timely bailout with the Troika of international lenders has fuelled talk, yet again, of a Cyprus exit from the euro zone, if a deal is not secured with EU paymaster, Germany. But Europe and Russia are getting closer to a
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Issues related to Cyprus economy and the accusation against the country for money laundering, were discussed during meetings in Brussels of a delegation from the Cyprus Parliament with the Vice President of the European Commission Olli Rehn, and with political groups of the European Parliament. The House delegation comprises of MPs Averof Neofytou (DISY), Christos
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President of Russia Vladimir Putin has assured Cyprus President Demetris Christofias that the Russian Federation is ready to contribute, with the EU, in the financing of Cyprus, during a telephone conversation they had on Wednesday evening. In statements to the press on Thursday in Belgrade, where he is paying a visit, Christofias noted that a
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The total numbers of visitors to Cyprus from abroad for the purpose of sports tourism recorded an increase of 19% compared to 2010, generating approximately 20 million euros in revenues, according to a survey on sports tourism in Cyprus for the year 2011 presented Tuesday by the Cyprus Tourism Organisation during a press conference. Particularly,
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