Emirates will increase the frequency of its Dubai-Larnaca flights from five a week to a daily schedule starting from December 1, setting a target to raise the number of passengers it carries to Cyprus from 100,000 in 2007 to 120,000 by the end of this year. Nabil Sultan, Senior VP, Commercial Operations Europe, inaugurated the
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The Central Cooperative bank of Bulgaria Plc held a reception at the premises of its first foreign branch at 69, Arch. Makarios III Avenue in Nicosia to celebrate its first year of operations on the Cyprus market. The celebration began with the blessing of the branch, followed by a welcome speech by Milena Blagoeva, Director
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. Cyprus President Christofias has been basking in the joy that while he and his cabinet have often been described as the ‘only communist government in Europe’, the traditional free-economy markets of the West are the ones that are on the brink of collapse and nationalising their great capitalistic institutions in order to rescue the
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European Union leaders called on Thursday for action to counter an economic slowdown and support industry as the worst financial crisis for 80 years sent shares plunging on fears of a deep recession. The 27 leaders said a forthcoming international summit to reform the global financial system should take early decisions on transparency, global standards
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Copper hit a 33-month low, gold tumbled and oil slid further on Thursday as prices of industrial materials and other commodities were undermined by growing fears of global recession. Oil slumped to a 13-month low and is now trading at less than half its July record high of $147 a barrel. Gold slipped more than
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Here is a chronology of the recent global market chaos: Sept. 14/15 – Investment bank Lehman Brothers Holdings Inc files for bankruptcy protection; Merrill Lynch & Co Inc to be taken over by Bank of America Corp. Sept. 16 – U.S. Federal Reserve announces plan for $85 billion loan to American International Group Inc in
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For wealthy Asians, mobile phones and Blackberrys are much more than a way to stay in touch, with a survey finding portable communication devices increasingly being used to watch videos, take pictures and surf the Web. The Synovate-Pax regional survey of nearly 10,000 respondents across seven countries in Asia showed 56 percent of affluent Asians
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Taiwan's Acer Inc surged past global champion Hewlett-Packard Co in European personal computer sales in the third quarter, in the clearest sign of the move toward cheap, small mini-notebook computers, research firm Gartner Inc said on Tuesday. Worldwide PC shipments rose 15 percent in the quarter, with HP in the lead, followed by Dell Inc.
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Computer spying and theft of personal information have risen notably in the past year, costing tens of millions of dollars and threatening U.S. security, the FBI's cyber division head said on Wednesday. FBI Assistant Director Shawn Henry told reporters that organized-crime groups are drawn by the ease of reaching millions of potential victims. He said
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The Cyprus Stock Exchange (CSE) that operates the Central Securities Depository in Cyprus has become a new member of Link Up Markets, the joint venture launched last April by Central Securities Depositories (CSDs) to improve efficiency and reduce costs of post-trade processing of cross-border securities transactions in Europe. With the incorporation of Cyprus, Link Up
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