Less than one week after his historic victory, U.S. President-elect Barack Obama heads to Washington on Monday to learn firsthand from President George W. Bush about the challenges that await him on Jan. 20. Obama, 47, who swept to office after two years of campaigning on a theme of change — particularly from Bush's economic
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Asian stocks and commodity prices climbed on Monday after China unveiled a nearly $600 billion economic stimulus plan, one of many measures countries are undertaking to limit the economic fallout from the financial crisis. Japanese government bonds and U.S. Treasuries retreated as funds flowed back into riskier assets on hopes for stimulus measures by other
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The world's leading economies, including emerging powers like China, agreed in Sao Paolo on Saturday on the need to take measures to stimulate growth and fight off the threat of a global recession. Central bankers and other top government officials from countries representing most of the world's economy hammered out proposals for their leaders to
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The Latvian government announced on Saturday the surprise takeover of the country's second largest bank, Parex, as the global financial crisis hit the small Baltic state where economic growth has fallen sharply. Prime Minister Ivars Godmanis said after a late night government meeting that if necessary the former Soviet state, a member of the European
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The Macroeconomic Forecasting Group of the University of Nicosia Business School expects Cyprus GDP in the third and fourth quarters to reach EUR 4.10 bln (CYP 2.45 bln) and EUR 3.97 bln (CYP 2.32 bln), respectively, at current prices while it is expected to reach €15.91 billion (CYP 9.31 billion) for the full year 2008.
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Egypt might supply Cyprus with liquefied natural gas in 2013, following contacts that Trade Minister Antonis Paschalides had in Cairo last week. The Cairo meetings followed a ministerial decision in June for the purchase and supply of natural gas to Cyprus, and after an invitation from the Petroleum Minister of Egypt, Sameh Fahme. During the
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Atira, a Limassol-based energy company, hosted a public presentation on the benefits of solar thermal power.The event was attended by representatives of the Institute of Energy, the Energy Regulator, the Cyprus Institute, the Electricity Authority of Cyprus, the Water Development Department, as well as MPs and business people. The aim of the presentation was to
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Austrian Airlines has increased its 3-hour flights between Vienna and Larnaca to daily for the first time during a winter period in the airline’s 30 years presence on the island. The flights will be operated by the Airbus A321 aircraft. Flights leave Vienna at 10.45 and arrive at Larnaca at 14.55, embarking on the return
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The newly established Law School of the University of Nicosia hosted a lecture by distinguished law lecturer, Prof. Symeon Symeonides, at its inaugural event last week, attended by the Attorney General, the Minister of Education, the chairmen of the House Education and Law Committees, lawyers and judges, the Rector and members of the university’s faculty
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The International Society of Hospitality Consultants (ISHC) elected its new board and officers for the year 2008-2009 during its annual conference held in Washington, DC, headed by a Cypriot. Angelos Loizou, member of the board of PricewaterhouseCoopers Ltd in Cyprus and partner in charge of the hospitality and leisure services of the firm was elected
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