Chairman of the Cyprus Tourism Organisation (CTO) Alecos Orountiotis has expressed satisfaction over the upward trend in tourist arrivals in October 2010, noting that the increase of 4.9% indicated that CTO efforts were bearing fruit. Orountiotis also expressed certainty that in 2011 the positive results would continue, and pointed out the 52.7% increase in the

The U.S. government has made a profit of $3.3 billion from selling Citigroup Inc <C.N> shares, according to an analysis released on Thursday. The analysis by Linus Wilson, an assistant professor of finance at the University of Louisiana at Lafayette, is based in part on a report on Wednesday from the U.S. Troubled Assets Relief

President Barack Obama said on Thursday the United States and China were "making progress" in discussions on economic issues, but made only a guarded reference to the divisive topic of Beijing's currency. "As two of the world's leading economies we have a special obligation to deal with ensuring strong balance and sustained growth," Obama said

The European Union will impose new controls on private equity and hedge funds from 2013 after the European Parliament gave its final vote in favour of tighter regulation of the industry on Thursday. The vote follows the resolution of a disagreement between France and Britain over measures to rein in hedge funds, which some lawmakers

European Commission President Jose Manuel Barroso said on Thursday the European Union is able to take action to support Ireland if needed. "What is important to know is that we have all the essential instruments in place in the European Union and euro zone to act if nececessary, but I am not going to make

Tourist arrivals in Cyprus reached 241.698 in October 2010 compared to 230.431 in October 2009, recording an increase of 4,9%. This was stated during the latest Passengers Survey in tourism arrivals, published on Wednesday by the Statistical Service of the Republic of Cyprus. An increase of 60,2% was recorded in tourist arrivals from Russia (from

The Group of 20 meeting on Thursday struggled to agree on meaningful action to rebuild the global economy as a crisis erupted in Ireland, pushing its bond spreads out to a record over Germany, and infecting Spain and Portugal. Even as U.S. President Barack Obama voiced confidence that the leaders would agree on steps for

Εtihad Airways, the national airline of the United Arab Emirates, has been awarded the prestigious title of “World’s Leading Airline” for a second consecutive year at the World Travel Awards (WTA). Etihad Airways is the national airline of the United Arab Emirates based in the UAE’s capital, Abu Dhabi. Currently Etihad offers flights to more