On the basis of the results of the Passengers’ Survey, the number of residents of Cyprsu travelling abroad in January rose by 22.8% compared with Janaury 2007. In total 78,021 residents of Cyprus returned from a trip abroad in January 2008 compared with 63,525 in the corresponding month last year. There was an increase of

Financial markets came under heavy pressure on Thursday as slumping retail sales provided new signs of a deteriorating U.S. economy and inflation-sensitive gold shot through $1,000 an ounce for the first time as the dollar hit new lows. European shares extended losses to post almost a 2 percent decline and U.S. stock index futures slid

Standard & Poor’s Ratings Services broadly estimates that valuation write-downs of subprime asset-backed securities–primarily collateralized debt obligations (CDOs) of ABS but also subprime residential mortgage-backed securities (RMBS)–could reach $285 billion for the global financial sector, but that the end of write-downs is now in sight for large financial institutions. In a report published, “Subprime Write-Downs

United Internet AG of Germany announced the Group’s preliminary, unaudited results according to IFRS for the fiscal year 2007. Consolidated sales grew by 26.7% to EUR 1,487.4 mln. Preliminary earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 39.6%, to EUR 308.8 mln. Earnings per share (EPS) improved by 52.4%, from 42 cents to

MobileAccess Networks, a leading global provider of multi-service in-building wireless solutions for operators and enterprises, has launched its Middle Eastern operations with a local office presence in Dubai. Building on its success in other markets, the company has initiated a global expansion strategy into high-growth markets to address the increasing demand for accessible and reliable

Fastweb, the Italian fixed network operator, has selected Nokia Siemens Networks as a technological partner when it launches mobile services later this year. Italy’s largest alternative broadband provider will start complementary wireless services as it becomes a Mobile Virtual Network Operator (MVNO), using Nokia Siemens Networks solutions for an effective rollout of the new service.

The business of Austrian Post proceeded favourably in 2007. Total revenue increased by 33.3% to EUR 2,315.7 mln. A major contribution to the growth in revenues (about EUR 500 mln) was the initial consolidation of trans-o-flex (Parcel & Logistics Division), acquired at the end of 2006. On balance, revenues from the Mail Division were up

Dubai Maritime City, the world’s first purpose-built maritime centre and a member of the Dubai World Group of companies, has predicted that boat ownership levels in Dubai will increase by 15% within the next twelve months, as a result of the increased availability of berthing space and better maritime facilities. As part of its preparations