Hundreds of flights to and from Greece will be grounded on Wednesday during rolling strikes by air traffic controllers, their union said in a statement. Air traffic controllers will hold four separate three-hour stoppages throughout the day starting from 4:00 am (02:00 GMT) and ending at 22:30 on Wednesday during the final shift, the Air

The Cyprus Securities and Exchange Commission (CySec) said it estimates that the exposure and losses likely to be suffered by Cypriot investors who invested in funds that in turn invested in other funds managed by Bernand Madoff, former chairman of Nasdaq, who is accused of having deceived investors at about 200,000 euros. CySec Chairman George

Cypriot basketball men's team AEL beat Spanish Cajasol on Tuesday in a EuroChallenge tournament game 64-56. The game was held in Spain and AEL has a good advantage now to qualify for the quarterfinals. The Cypriot team will return home on Wednesday. Its next game will be held at Melford Arena against Russian Ural Great,

The CSE announced that from January 28, 2009 the shares of Universal Bank Public (USB) will trade split with their new nominal value of EUR0.57 from EUR 1.71 and without the right of participation in the split. Hence, 30,256,302 new shares have been issued and allocated to the ratio of 3 new shares for every

The European Commission has launched the EU Scholarships III Programme on 11 November 2008 offering 200 scholarships for Turkish Cypriots for the academic year 2009/10. A final Information seminar will take place on Friday, 30th January 2009 at the EU Programme Support Office, 38-44 Girne cad. Nicosia, at 17.00 hrs, where participants will have the

Fitch Ratings has upgraded Marfin Egnatia Bank's (MEB) Long-term Issuer Default rating (IDR) to 'BBB+' from 'BBB' and its Short-term IDR to 'F2' from 'F3' while it affirmed the bank's Individual rating at 'C' and Support rating at '2'. At the same time, the agency has affirmed Marfin Popular Bank's (MPB) Long-term and Short-term IDR

The British government's forecast of a strong rebound in economic growth next year is optimistic and preparations must be made for the "worst case scenario", a group of lawmakers said on Wednesday. Parliament's Treasury Committee, which scrutinises the ruling Labour party's economic policies, said more action was needed to increase the amount of lending in

Cyprus President Demetris Christofias said here Tuesday that the Greek Cypriot side will defend principles and the right of each citizen to his property during discussions on the issue of property that begin Wednesday, in the framework of direct talks held between him and Turkish Cypriot leader Mehmet Ali Talat, with a view to solve

The leaders of the two communities in Cyprus, President of the Republic of Cyprus Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat, began there 17th meeting on Wednesday, in the framework of the UN-led direct negotiations, which began last September with a view to reach a solution of the Cyprus problem. During the meeting,