Cyprus Tourism Organization Chairman Alekos Orountiotis has stressed that tourism negative trend has been reversed, adding that Cyprus can become a major transportation centre in our region. Speaking at a press conference in the context of celebrations for the World Tourism Day, Orountiotis said that “the negative climate in tourism has eventually been reversed, with
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The Council of Ministers approved Monday an agreement to avoid double taxation with Kuwait and Slovenia, Deputy Government Spokesman Christos Christofides announced. Following the meeting of the Ministerial Council, Christofides said that the agreement between Cyprus and the two countries will eventually lead to the deepening of economic relations and may help boost foreign investment,
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Presidential Commissioner George Iacovou has said that the Limnitis check point will most probably be opened on October 14. Replying to questions on the sidelines of the meeting of the National Council's sub-committee on the property issue, Iacovou said that the leaders of the two communities in Cyprus, President of Cyprus Demetris Christofias and Turkish
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The European Commission believes that the return of the fenced off town of Varosha to its lawful inhabitants will be one of the key elements for the achievement of a comprehensive settlement of the Cyprus problem. A Commission's press release notes that “it is clear that the return of the city of Varosha to its
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The continued weak and deteriorating asset quality and funding conditions among Greek banks continue to justify a negative outlook on the Greek banking sector as well as on the banks' standalone ratings, Moody's Investors Service said in a new market update on Monday. "The recent release of macroeconomic statistics for Greece, as well as Greek
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The unemployment rate according to the quarterly Labour Force Survey climbed to 6.4% of the labour force in the second quarter of 2010. This was lower than the 7.2% recorded in the previous quarter but rather higher than the 5.2% recorded in the same quarter of 2009. The unemployment rate in the second quarter among
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Retail trade showed signs of recovery in July, marking its second straight month of increase, after a volatile few months that were preceded by over a year of decline. According to provisional figures for July, retail sales volumes rose by 1.9% compared with July 2009, having risen by 0.6% in June. The last time retail
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The price index of construction materials for August 2010 reached 120.87 (base year 2005=100.00), recording an increase of 0.48 % over the previous month. Compared with the same period of the previous year, construction materials rose by 2.93%. For the period January – August 2010. the index recorded an increase of 2.45% compared with the
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Barclays said it was offering bank accounts to prison inmates as part of a programme to help reintegrate offenders. Barclays, Britain's fourth-biggest bank by market value, plans to extend the scheme to 14 prisons in the east of England, having trialled it at three institutions since 2007, it said on Monday. "The long-term financially excluded,
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Credit agency Moody's slashed its ratings on Anglo Irish Bank's lower-grade debt, rattling investors as Dublin tots up the final cost of rescuing a lender whose soured loans have crippled the country's economy. Moody's cut the nationalised bank's senior unsecured debt by three notches to Baa3 — just one notch above junk status — citing
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