The European Union, concerned about energy supply disruption, has asked Russian oil pipeline monopoly Transneft to reveal its investment and supply plans, Transneft and EU officials said on Monday. Russia, the world's top crude producer, has had a chequered history of energy relations with the European Union, which relies heavily on it for oil and
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European shares inched towards a two-year high on Monday, as a political attempt to break a budget impasse in the United States and expectations of aggressive Japanese stimulus bolstered the appetite for shares. U.S. House Republican leaders said on Friday they would seek to pass a three-month extension of federal borrowing authority in the coming
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Antonis Tsokkos, Mayor of the Cyprus resort town of Ayia Napa, died on Monday aged 60 at his home after feeling unwell. Tsokkos was re-elected in 2011 for a second term having won a record 78% of the votes in the popular southeastern coastal town. He studied accounting and shipping in the U.K. and returned
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An impressive 42% growth in tourist arrivals from Russia led to a 3% increase in Cyprus’ total tourist arrivals in 2012, which amounted in total to 2,464,908 compared to 2,392,228 in 2011, according to data released Monday by the Statistical Service. The increase in tourist arrivals from Russia in 2012 was 42%, or 140,340 people,
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Heavy snowfall and bad weather conditions prevailing in many European countries continue to affect flights between Larnaca and the airports of Frankfurt and London. According to Adamos Aspris, a spokesman for Hermes Airports, weather conditions affect in particular four flights, two departures and two arrivals from and to Frankfurt and London. Aspris added that flights
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A Eurogroup meeting takes place today in Brussels during which no final decisions are expected to be taken as regards Cyprus’ request for a bailout, since the amount for the recapitalization of the Cypriot financial system has not been finalized yet. Cypriot Finance Minister Vasos Shiarly is expected to inform his European counterparts about the
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Asian shares pulled back from multimonth highs on Monday, while the yen firmed after touching a new low in choppy trade ahead of a Bank of Japan policy decision that is expected to deliver bold monetary easing measures. The MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.2% despite pockets of strength in
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Angela Merkel's coalition and the centre-left opposition were neck-and-neck in exit polls in a state election in Lower Saxony on Sunday, which could deprive the German chancellor of a boost for her bid to win a third term later this year. In exit polls released after voting ended at 6 p.m., Merkel's Christian Democrats (CDU)
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A makeshift time-bomb lightly injured two security staff at a large shopping centre near Athens on Sunday, in escalating political violence in the crisis-hit country. The blast followed gun and bomb attacks on political figures and journalists in recent weeks, some claimed by anti-establishment leftists angry about Greece's financial woes. The device, which exploded shortly
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Hundreds of demonstrators on Saturday paraded the coffin in central Athens of a Pakistani immigrant who was stabbed to death earlier this week, praying and opening the casket to show his face in protest at racist attacks in the country. About 5,000 immigrants and human rights activists later gathered in the city's central Omonia square,
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