Britain has ruled out direct flights between Cyprus’ northern Turkish occupied areas and Britain, saying such flights are prohibited by international conventions. A spokesman for the British Department of Transport has told CNA it is impossible to conduct direct flights between Britain and Cyprus’ occupied areas because they are prohibited by the Chicago International Convention,
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President of the Republic of Cyprus Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will hold on Thursday their 28th meeting in the framework of the UN-led direct negotiations, currently underway with a view to reach a negotiated settlement. The two leaders are expected to continue discussions on economic matters. During their previous meeting
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Eight Cyprus Airways flights, six from and to Athens and two to and from Salonika will be affected by the four-hour strike of air traffic controllers in Greece today from 1000 to 1400 local time (0930 to 1230 GMT). A Cyprus Airways press release said that two more join flights of Cyprus and Olympic Airways
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The U.S. financial system has completed a big part of the painful adjustment away from its excessively leveraged state, and lending is starting to improve, U.S. Treasury Secretary Timothy Geithner said on Wednesday. Speaking to a group of community bankers, Geithner also said the government planned to reopen a $700 billion bailout fund to small
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Stocks fell on Wednesday after key U.S. retail sales data came in worse than expected, dampening hopes of a quick economic recovery. Shares in Wal-Mart Stores Inc (WMT.N), the world's biggest retailer and a bellwether for the sector, fell 2 percent to $49.70, while Macy's Inc (M.N) dropped 5.4 percent to $11.68. The S&P retail
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U.S. retail sales slipped, European industrial output dived and the Bank of England said Britain needed a long period of healing, denting hopes on Wednesday of any global economic recovery. Investors seeking any signs that the world might drag itself out of recession suffered a string of disappointments, and American shoppers delivered the biggest blow.
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Sales at U.S. retailers fell for a second straight month in April as cash-strapped consumers held back on some purchases, according to a government report on Wednesday that dealt a blow to hopes the economy was beginning to improve. The Commerce Department said total retail sales slipped 0.4 percent after falling by 1.3 percent in
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Oil eased below $59 a barrel on Wednesday, a day after hitting a six-month high, pressured by OPEC's forecast of lower world oil demand in 2009 and a drop in U.S. retail sales in April. Sales at U.S. retailers fell for a second straight month in April, pulled down by sluggish gasoline and electronic goods
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Britain's recession will be much deeper than previously expected but the worst is behind the struggling economy and an end to the downturn will come a little sooner than earlier predicted, a Reuters poll showed. Around 40 economists in the monthly poll, taken May 8-13 before the Bank of England's May Inflation Report was due,
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European stocks fell and Wall Street looked set for some losses on Wednesday with investors fretting about banks and the global economy. The U.S. dollar rebounded from an earlier four-month low. Sterling fell after the Bank of England said the UK economy will recover more slowly than previously thought. World stocks as measured by MSCI
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