. Hoteliers rightly want the government to abandon plans to build a luxury hotel and conference centre in Nicosia, arguing that low occupancy rates in the capital will drive the project to failure. The Association of Cyprus Tourist Enterprises, STEK, is against plans to demolish the derelict Philoxenia Hotel and build a new luxury hotel
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British Airways marked its decision to maintain daily direct flights between Gatwick and Paphos throughout the winter with a special event in London. BA representative Alison Nicholls and the airline’s Country Commercial Manager Cyprus, Marianna Trokoudes, emphasised the importance of this strategic decision at a time when the economic crisis is impacting the aviation industry
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PandaLabs has detected an email message claiming to be a special Christmas offer from McDonald’s, but which really spreads the P2PShared.U worm. The email subject is “Mcdonalds wishes you Merry Christmas!” while the message text reads as follows: “McDonald's is proud to present our latest discount menu. Simply print the coupon from this Email and
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The world financial crisis and its effects on European shipping, as well as the serious problem of piracy and armed attacks on shipping were the main topics of discussion at the annual board meeting of the European Community Shipowners’ Associations (ECSA) in Brussels. Cyprus was represented by the president of the Cyprus Shipping Chamber, Capt.
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Christis M. Christoforou has been elected Managing Partner and CEO of Deloitte Cyprus for another five-year term starting on January 1, 2009. Under the present management, Deloitte has expanded rapidly and currently employs 420 who recorded a turnover of EUR 26 mln. Christoforou said that the tax, audit and consultancy firm recently marked its 50th
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The Foreign Ministers of Cyprus and Malta, Markos Kyprianou and Tonio Borg, have signed an agreement for joint premises of the two countriesâ?? diplomatic missions in Tel Aviv and Ramallah. This is the first time such agreement is signed between Cyprus and Malta. â??We hope that in the future other similar diplomatic missions will follow,
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President of the Republic Demetris Christofias has appointed lawyer Loucas Louca to the post of Minister of Justice and Public Order, to replace Kypros Chrysostomides, who resigned Wednesday, Government Spokesman announced. Louca was born on December 28, 1955 in Marathovouno village of Famagusta district, on the east, and now lives in Aglantzia, a Nicosia suburb.
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Ukraine's political and financial elite hurled insults and ultimatums at each other on Friday over the hryvnia currency's recent fall to historic lows. But central bank measures — including a big rise of 4-5 percent on overnight refinancing rates — helped strengthen the hryvnia slightly to 8.1-8.5 to the dollar from about 9/$ on Thursday,
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By Laurence Fletcher Hedge funds are set to return to their roots as niche products for the happy few as they have been unable to deliver the gleaming returns they were promising ever since the start of the credit crisis. Hedge fund managers have long been flaunting alpha — returns down to their skills to
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Oil fell below $34 on Friday to its lowest level in more than 4-1/2 years as the global economic slowdown overshadowed OPEC's record supply cuts. U.S. light crude for January delivery fell $2.64 to $33.58 a barrel by 1150 GMT. It earlier touched $33.44, the lowest since April 2004. London Brent crude was trading 18
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