The government is adopting measures with regard to the economy, to avoid having measures being imposed on Cyprus, Government Spokesman Stephanos Stephanou has said. Speaking here Wednesday, after a Cabinet meeting and commenting on a decision, taken by the EU Economic and Financial Affairs Council (ECOFIN), to begin an excessive deficit procedure for Cyprus, Stephanou
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Cyprus’ annual inflation marked an increase of 0,3% in June, Eurostat has announced. According to figures, released by Eurostat, the statistical office of the European Union, the annual inflation in Cyprus was 2,1% in June 2010, compared to 1,8% in May. In Greece, the annual inflation slightly decreased by 0,1%, falling from 5,3% in May,
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LGS Handling and Swissport, the ground handling companies at Cyprus’ alternative airport in Paphos, have apologized for the two-hour wildcat strikes by their staff. In an announcement, both companies said the strikes were unwarranted as a mediation plan had been proposed by the Ministry of Labour and that such strikes caused harm to the economy
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Oneworld members British Airways, American Airlines and Iberia won EU antitrust clearance on Wednesday to deepen their pact after agreeing to cede some lucrative trans-Atlantic routes. The European Commission, the EU competition watchdog, also unconditionally cleared British Airways' merger with Spain's Iberia. The Oneworld members want to broaden their pact to take advantage of the
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Slovakia should end its resistance and sign off on the euro zone's planned emergency loan facility, the finance ministry proposed on Wednesday, bending to pressure from European partners. Slovakia, the euro zone's poorest member, has been holding up Europe's 750-billion-euro EFSF scheme to help countries in trouble and refused to contribute 800 million euros in
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Eleven flights out of Larnaca airport to and from Athens and Thessaloniki are expected to be affected by Thursday’s four-hour strike by Greek air traffic controllers. Adamos Aspris, Hermes Airports Public Relations and Communications Manager, said that “unfortunately, due to the new four hour strike by air traffic controllers in Greece, the flight schedule to
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. The landscape for UK mortgage lenders will continue to be very fluid, Moody's Investors Service said in a new special comment. This will be against a backdrop of continued uncertainty over the direction of house prices, interest rates and unemployment as well as tougher regulatory capital and liquidity requirements. "Moody's believes that the next
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Changes in regulation affect too Based on recent announcements in the UK budget, Moody's anticipates cuts in rent subsidies for tenants and in direct capital subsidies for English housing associations (HAs), Moody's Investors Service said in a new special comment. However, although the government is also considering changes to the regulatory framework of the sector,
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Moody's Investors Service has changed to stable from negative the outlook on the B2 long-term foreign and local currency deposit ratings of Metallinvestbank (MIB). The bank financial strength rating (BFSR) of E+ and Not-Prime short-term foreign currency deposit rating were affirmed. Concurrently, Moody's Interfax Rating Agency affirmed MIB's Baa1.ru long-term national scale rating (NSR). According
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European Union finance ministers remained divided on Tuesday over what data would be published in banks stress tests due in 10 days but pledged to make them as transparent as possible. Like U.S. tests announced in May last year, they are intended to identify which banks need to raise new capital and to restore confidence
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