Cyprus Airways resumed operations midday on Monday after a four-hour work stoppage, carried out by the pilots’ trade union PASIPY . CY Spokesman Kyriakos Kyriakou told CNA on Monday that the national carrier rescheduled its flights, noting however that a “total of 2400 passengers and 30 flights were affected by this unjustified strike”. Kyriakou said
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European and Chinese industry activity slumped in November, Japanese officials said their economy was slowing rapidly and U.S. retailers slashed prices to lure shoppers as recession took a grip. Bank of Japan Governor Masaaki Shirakawa warned on Monday economic conditions were deteriorating fast, and Japanese firms were finding it increasingly hard to secure credit. "Sluggishness
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European shares fell after staging a sharp rally last week and the yen rose on Monday as investors looked to interest rate cuts in several major economies, while oil dropped as OPEC delayed a decision on a third supply cut. The MSCI world equity index fell 0.74 percent after rising nearly 13 percent last week.
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British mortgage approvals fell in October to match their lowest level since the series began a decade ago, data showed on Monday, putting further pressure on policymakers to get banks lending again. Mortgage lending was also much weaker than expected, and less than a sixteenth of its level a year ago. The government has injected
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Mobile phone calls distract drivers far more than even the chattiest passenger, causing drivers to follow too closely and miss exits, U.S. researchers reported on Monday. Using a hands-free device does not make things better and the researchers believe they know why — passengers act as a second set of eyes, shutting up or sometimes
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The CSE Council announced that following the completion of the Public Offer of C.B. Holding towards Caramondani Bros Public Co Ltd (CAR.CY) shareholders and with C.B. Holdings having accumulated 93.81% of CAR’s issued share capital, it decided to delist CAR from the CSE. It is noted that C.B. Holding is committed to accept any other
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A. Tsokkos Hotels Public Ltd (TSH.CY) reported its 9M 2008 results with revenue decreasing by 5% to EUR35.6mln due mainly to the decline in revenue from property development, while results deteriorated sharply. Operating profit decreased 23.3% to EUR 7.8mln with EBIT margins squeezed at 22% from 27% in 9M 2007. At the bottom line level
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Options Cassoulides Plc (OPT.CY) reported higher revenue during the first nine months of 2008 but profits fell sharply due to financing costs and exceptional items. Revenue increased 11.3% to EUR30.4mln mainly due to increased revenue of the conference and publishing divisions. Increased revenue of the conference division is the result of the undertaking of the
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Bank of Cyprus Public Co Ltd (BOCY) announced that the price at which the 2008 interim dividend will be reinvested into shares is EUR2.71. It is reminded that the price was calculated according to the terms of the Plan, based on the applicable 15% discount on the weighted average closing price of the share on
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Consumers made repeat trips to U.S. stores and spent more on bargains this holiday weekend, but the early rush is unlikely to save retailers from a bleak sales season, analysts said on Sunday. Early results from the Black Friday weekend that kicks off U.S. holiday shopping showed that sales grew both in stores and online,
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