The extraordinary session of the European Parliament plenary in Brussels approved the EU budget for 2012, and sealed the assistance to the works of the Committee on Missing Persons in Cyprus (CMP) and the protection of the island's cultural heritage with three million euros for 2012. According to a press release, this financial assistance had
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Tourism revenue increased in October Revenue from tourism reached 188.8 million euros in October 2011 compared to 175.5 million euros in the corresponding month of the previous year, recording an increase of 7.5%, according to the results of the Passenger Survey announced on Thursday by the Statistical Service. The results also show that for the
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Apple's iPhone edged past major news events, celebrities and pop stars as the top searched term on the Web in 2011, according to Yahoo! The digital media company said the smartphone proved more popular than reality television celebrity Kim Kardashian, pop star Katy Perry and singer and actress Jennifer Lopez, who placed in the top
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The rate of inflation in Cyprus has increased by 3,8% in November 2011, compared to 3% in October 2011 and 1,5% in November 2010. According to the Statistical Service of the Republic of Cyprus, the Consumer Price Index (CPI) for November 2011 increased by 0,38 units or 0,32% to 118,93 units compared to 118,55 in
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Minister of Foreign Affairs Erato Kozakou-Marcoullis will visit Washington around the end of December for meetings with the US administration. A State Department official has revealed that Marcoullis will meet US Secretary of State Hillary Clinton on 20th December and other officials. Her discussions with Clinton will include bilateral issues and the Cyprus issue, as
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European Central Bank President Mario Draghi signalled it was willing to take further action to prop up the euro zone economy in a speech to the EU parliament on Thursday, saying risks had grown and that the ECB was aware of growing banking problems. Highlighting action the ECB took on Wednesday with other major central
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Ratings agency Moody's said on Wednesday it was maintaining its negative outlook on Greek banks, estimating that their prospects would remain bleak over the next 12 to 18 months. An EU plan agreed last month to cut the country's privately-held debt by half will make most Greek lenders, which own more than 50 bln euros
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BY FIONA MULLEN It is perhaps a sign of the times that the announcement to an analyst conference by Noble Energy on November 15 that Cyprus’ Block 12 “has an estimated gross mean resource range of 3 to 9 Tcf and a 60% probability of geologic success” was greeted with disappointment, even though 3 trln
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* Exposure to Greece weak link in economy * Cyprus must take immediate steps to start reducing public debt and its banks remain badly exposed to debt-crippled Greece, the International Monetary Fund warned in a report on Tuesday. Externally, the exposure of Cypriot banks to Greece and worsening prospects for external demand pose the main
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Greek schools shut, hospitals worked with minimal staff and train and bus service ground to a halt on Thursday as unions held their first major strike since a new national unity government took power last month. Unions representing over half of Greece's 4 million-strong workforce called the general strike to protest new austerity measures that
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