The Minister of Finance Charilaos Stavrakis announced the construction and renovation of 30 elementary schools across Cyprus, which will provide some contribution to the declining local construction sector. The Minister stated that the construction of the Paphos – Polis Chrysohous highway, which will cost around EUR 200 mln will commence immediately after the signing of
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Online spending in Britain rose 14.2 percent on the year in December, outperforming the wider retail industry but slowing from earlier in 2008 and suggesting the sector is not immune to economic downturn, a survey found. Online retail industry body IMRG and consultants Capgemini said on Thursday online spending rose 25 percent in 2008 to
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By Avril Ormsby With the pound at new lows against the euro and the dollar at the end of 2008, Britain looked good value to Maltese couple Mario and Josanne Cassar. They bought two suitcases to get all their purchases home. "It's almost ridiculous, the prices we are paying," Mario said as he and his
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The U.S. Senate plans to vote on Thursday on a resolution to block the release of the $350 billion remaining from the $700 billion financial bailout package, a spokesman for Senate Majority Leader Harry Reid said on Wednesday. The Nevada Democrat said earlier this week that he believed he would get the necessary votes against
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Citigroup and Bank of America faced new doubts over their ability to fund their massive losses as their shares sank, while U.S. and Japanese data pointed to a deepening global recession. The European Central Bank is expected to cut interest rates for the fourth month running as the outlook for the 16-country euro zone continues
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Asian shares hit a six-week low on Thursday and safe-haven Japanese bond futures rose to their highest since Lehman Brothers collapsed in September as the U.S. banking crisis deepened, sparking fears of prolonged financial turmoil. Bank of America Corp and Citigroup Inc shares plunged on Wednesday as investors questioned whether the firms have enough capital
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Israeli warships turned back a Greek-flagged vessel carrying aid for Palestinians in Gaza, activists said on Thursday. Activists on board the ferry said they were returning to Cyprus after an overnight encounter in international waters in which, they said, Israeli ships threatened to open fire. The boat carrying 21 people was intercepted about 100 miles
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The Ministry of the Interior will be posting 20,000 letters over the next few days to new voters, who are or will be 18 years old in June 2009, when the European Elections are set to take place, according to Demetris Demetriou, a Ministry officer, in charge of elections. Demetriou has told CNA in an
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With work well underway to prepare for the 2009 Cyprus Rally, organisers have announced that a Service Park will be created, and work on the Park will be overseen by two local construction companies. The Rally will be held between the 13 – 15 March. It will be a mixed surface event (Day 1 will
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Cyprus ranks first among the EU member states with regard to the number of .eu domains per 1000 inhabitants with 66.1 while Luxembourg ranks second with 54.9. The third million .eu domain name was registered on 11 January by a German citizen. According to the European Commission, two and a half years after its launch,
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