. The weekend events at Limassol’s Tsirion stadium showed once again that our society faces two fundamental problems: frustrated youth who vent their anger through violence, and, the inability of the authorities to introduce long-term measures to punish hooligans and their instigators. Although this time, it was the Apoel fans who looted the stadium’s canteen,
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The rational use of energy and incentives to use environmentally friendly sources of energy are among the priorities of this government, President Demetris Christofias said on Friday. Speaking at the opening of the Savenergy 2010 and Envirotec exhibitions, President Christofias said the government was taking measures to increase the use of renewable energy sources from
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C. L. "Max" Nikias, provost and second-in-command at the University of Southern California, will become its next president, succeeding Steven B. Sample on August 3 at the helm of the 34,000-student university, the Los Angeles Times reported. Nikias, a Cypriot-born electrical engineer from Komi Kebir with expertise in radar and sonar, was long mentioned as
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Foreign investments in Central and Eastern Europe take a major knock, recovery will be gradual, warn PwC economists Five bumper years of foreign direct investment (FDI) in Central and Eastern Europe took a hammering last year as the effects of the credit crunch and recession bit, according to PricewaterhouseCoopers economists. And the evidence suggests that
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Signs of recovery are visible in some European housing markets, especially in sales levels and prices, but not so in Cyprus, according to the latest Royal Institution of Chartered Surveyors (RICS) European Housing Review. According to the study, the Cyprus market is depressed and shows weak signs of growth. The building permits, a forward indicator
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Stavrakis warns of deficit breaching 7% of GDP Cyprus will outline tax and cash saving proposals to rein in a widening deficit in a stability programme to the European Union this month, Finance Minister Charilaos Stavrakis said on Tuesday. The government is considering increases in value added tax, pay freezes across the public service and
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Debt-stricken Greece returned to capital markets on Monday for the first time since euro zone leaders agreed to give it a financial safety net, but the fuzzy rescue plan did little to reduce its borrowing costs. The 7-year, 5 billion euro ($6.72 billion) benchmark bond was the first test of market confidence after the 16-nation
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Moody's Investors Service believes that the measures being introduced by the Hungarian government to make foreign currency loans less accessible to the retail segment may help to improve the currency structure of the banking sector's loan portfolio. The rating agency argues that although the measures will support new forint lending, the risk related to the
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U.S. consumer spending rose as expected in February for a fifth straight month, while stagnant incomes pushed savings to their lowest level since October 2008, a government report showed on Monday. The Commerce Department said spending increased 0.3 percent after rising by a slightly downwardly revised 0.4 percent in January. Consumer spending in January was
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The Russian rouble came under pressure early on Monday after two bomb explosions on the Moscow metro system sparked a wave of risk aversion, hiking demand for perceived safer assets such as dollars. By 0722 GMT, the rouble was 7 kopecks down at 34.20 versus the euro-dollar basket after falling to its lowest level since
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