The CSE Council in agreement with the CySEC decided to delist the securities of Costas Michaelides Constructions Ltd (KMC) effective July 10, 2009 since the company does not meet the main listing requirement of free float of its share capital to the public in view of the completion of the squeeze out procedure by Kostas

— “Melkonian school should continue” — President Demetris Christofias concluded a two-day official visit to Armenia, where he said after meetings with his counterpart Serzh Sargsian that Cyprus-Armenia ties should be enhanced even further. In an interview with the Azg daily newspaper in Yerevan, Christofias said that “on a political level we have no issues.

G8 leaders were due to agree a goal of limiting global warming to 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial levels at a summit in Italy on Wednesday. Here are some facts about the target, previously adopted by European Union nations and due to be widened to the United States, Russia, Japan and Canada. For

UK Treasury minister Paul Myners said on Wednesday that Bank of England Governor Mervyn King had been "fully consulted" on the government's banking reforms. Myners also dismissed talk of a rift between the governor and finance minister Alistair Darling over regulation. "I don't think the Chancellor and the Governor are at odds," Myners told parliament's

Spending through credit cards by residents of Cyprus fell 2% year-on-year to EUR 150 mln in Jubne 2009 according to figures released by JCC Payments in another sign of weak consumer spending. Spending by non-residents fell by 11% to EUR 46 mln. (Full report available in print edition of Financial Mirror and also available online

VAT receipts, which constitute the biggest part of indirect taxes receipts at 75% of the total, recorded a 9.1% decrease in the first half of 2009 to EUR 861 mln from EUR 946.92 mln in 1H08 in a clear indication of a weakening private consumption demand, according to the Department of Customs and Excise. The

The European Commission approved the annual report for 2008 on the implementation of the aid programme for the Turkish Cypriot community. The aid programme aims to facilitate the reunification of Cyprus by encouraging the economic development of the Turkish Cypriot community with particular emphasis on the economic integration of the island, on improving contacts between

OPEC's income from oil and gas exports jumped 35 percent to more than $1 trillion last year as world oil prices hit record highs of almost $150 per barrel, the group said in its Annual Statistical Bulletin on Wednesday. The Organization of the Petroleum Exporting Countries saw the total value of its petroleum sales abroad

The global economy is starting to pull out recession but recovery will be sluggish and government policies need to remain supportive, the International Monetary Fund said on Wednesday. In an update of its World Economic Outlook, the IMF said the global economy is likely to contract 1.4 percent this year, a touch steeper than the