The Cyprus Ports Authority has been selected to host the European Sea Ports Organisation (ESPO) General Assembly in 2011. According to a press release, issued here today by the Authority, it was chosen to host the Assembly during a televoting on April 2 in Brussels, at a meeting of the ESPO Executive Committee. More than
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Minister of Commerce, Industry and Tourism Antonis Paschalides has outlined the advantages Cyprus offers to foreign businesspeople, during a seminar organised in Shanghai, for the promotion of the country as an international business centre. The seminar, under the auspices of the Cypriot Ministry, was organised by the Cyprus Chamber of Commerce and Shanghai's International Chamber
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Avacom Public Company Ltd (ACS) announced that the agreement of the Company’s major shareholders with Capital One Investments Malta Ltd has been completed. After its finalization, Capital One Investments Malta Ltd controls via Top Capital Holdings Ltd 27.34% of the issued share capital of Avacom Public Company Ltd.
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Aspis Holdings Public Company Ltd (ASP) announced that within the framework of the Company’s announcement in October 2008 with regards to the agreement with Proton Bank SA, for the acquisition of a stake of the latter’s insurance unit (Proton Insurance SA), the Company proceeded with an announcement regarding the finalisation of the acquisition with a
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Moody's Investors Service has downgraded the global foreign currency (GFC) deposit ratings of 19 Ukrainian banks to B3 from B2 and the foreign currency debt ratings of five Ukrainian banks to B1 from Ba3. It also downgraded the local currency debt ratings of two Ukrainian banks. The outlook is negative on the long-term GFC deposit
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European shares briefly turned negative in afternoon trade on Tuesday, tracking losses in U.S. shares, as financial stocks retreated after recent sharp gains. At 1358 GMT, the FTSEurofirst 300 was trading 0.1 percent higher at 855.43 points after falling to a low of 847.25. U.S. benchmark indexes and were 0.1-0.5 percent lower, while the Dow
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Britain's economy stabilised in April after a year of falling output, the National Institute of Economic and Social Research said on Tuesday. It said last month's improvement suggested the decline in output since the start of the recession may not be as sharp as in 1929 but was still greater than the recession which started
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Oil prices hit $60 a barrel on Tuesday for the first time in six months, boosted partly by a weak dollar and gains on equity markets. U.S. crude was up $1.32 a barrel at $59.82 a barrel by 1252 GMT. It earlier touched $60.08 a barrel, its highest since November last year. It has risen
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The U.S. trade gap widened in March for the first time in eight months as exports fell 2.4 percent and imports dropped for the eighth consecutive month, a U.S. government report showed on Tuesday. The trade gap grew to $27.6 billion, from an upwardly revised estimate of $26.1 billion in February, which was the lowest
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European stocks edged higher and oil prices hit a 2009 high on Tuesday as investors chased risky assets further on hopes for improvement in the global economy, pushing the low-yielding dollar to a four-month low. Oil prices rose as high as $59.68 a barrel, helped by a weaker dollar and hopes for higher demand on
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