Those eager to put 2008 behind them will have to hold their good-byes for just a moment this New Year's Eve. The world's official timekeepers have added a "leap second" to the last day of the year on Wednesday, to help match clocks to the Earth's slowing spin on its axis, which takes place at
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– EasyJet adds Larnaca, new routes despite downturn Troubled national carrier Cyprus Airways <CSE: CAIR> is starting a price war in a bid to fend off potential competition from low-cost carrier easyJet <EZJ:LN> that will be flying to Larnaca next March. CAIR is slashing its round-trip fares from the UK to GBP 179 including all
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The Cyprus Stock Exchange (CSE) is about to close its worst year in history since the official exchange was established in 1996, with the 78% plunge of the index value in 2008 surpassing the 67% fall in 2000 that followed the 1999 bubble rally when the index skyrocketed 688%, according to Financial Mirror records. The
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After several months of testing, the Financial Mirror now has its own free mobile platform, becoming the first newspaper in Cyprus to offer continuous coverage on Cyprus and the world, business and finance and technology news. The English language service is available free of charge and does not require access codes, logins or passwords. Anyone
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Bank of Cyprus announces that, for the purpose of calculating the significance of a purchase or sale of participation in Bank of Cyprus shares, the share capital of the Bank as of 31 December 2008, amounts to EUR586.661.656 divided into 586.661.656 ordinary shares of a nominal value of EUR1,00 each.
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Aegon has completed its acquisition of the Polish pension company PTE Skarbiec Emerytura SA, making it the sixth largest pension fund in the country. "This acquisition significantly enhances our position in the Polish market," said Gabor Kepecs, member of the Management Board responsible for Aegon's operations in central and eastern Europe. "Aegon is now Poland's
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The latest figures on the average monthly in Cyprus have again appeared to defy common experience, as the average salary was reported as EUR 1,742 (CYP 1,019) in the third quarter of 2008, with males earning EUR 1,923 and females earning EUR 1,515. Yet questions are being asked how this is possible, when a private
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Outbound tourism is still booming in Cyprus according to the latest results of the Passengers Survey. The survey reported that 74,080 residents of Cyprus returned from a trip abroad in November 2008, compared with 67,999 in the corresponding month of 2008, thus recording an increase of 8.9%. The weak pound made the UK a popular
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Output in the construction sector slowed to its slowest pace of growth for two years in the third quarter of 2008, with the production index for construction rising by 1.7% over the third quarter 2007, compared with an increase of 3.9% in the second quarter and a peak of 8.3% in the first. However, the
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Outgoing U.S. Treasury Secretary Henry Paulson said the U.S. government had to battle the financial crisis without the tools needed to do the job effectively, the Financial Times newspaper reported. Paulson also said any future regulatory overhaul needed to ensure that financial system infrastructure could allow for the failure of large institutions. In one of
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