Cyprus Gross Domestic Product (GDP) rose by 4.6% in the third quarter of 2007, according to the second estimates released today by Eurostat. The figures surpass earlier Eurostat forecasts released in November for a 4.3% GDP growth.According to Eurostat, Euro area GDP in the third quarter of 2007, as compared with the corresponding period in
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The government and three major trade unions have come to an initial agreement on the terms for the renewal of their collective agreements for the period 2007-2009, which provide for salary increases for civil servants and employees of semi-governmental organisations.The initial agreement will be put before the three trade unions (SEK, PEO and PASYDY) for
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Cyprus and the Security Council’s two meetings for the renewal of UN Peace Keeping Force in Cyprus (UNFICYP) mandate, from the 15 June to 15 December 2007 and from 15 December 2007 until 15 June 2008, are included in a 2007 Security Council round-up. ”The Council held two meetings to extend the mandate of the
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Eight asylum seekers remained barricaded on a roof at a British base in Cyprus for a second day Thursday, threatening to jump unless they got British passports. The seven Iraqis and one Iranian scaled onto a 14-metre fire service training tower in the western sovereign base of Episkopi on Wednesday. They were thought to have
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Citigroup analysts have upgraded Alpha Bank to Buy/High Risk (1H) from Hold/Medium Risk (2M) increasing their target price from EUR27 to EUR32, of which EUR2 is an increase in fundamental fair value and EUR3 per share is an M&A premium, according to a company focus dated January 9, 2008. Greek sources have been insisting of
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The Cyprus Church intends to take Turkey to the European Court of Human Rights for preventing the restoration of looted Orthodox churches in the northern Turkish occupied areas of Cyprus and for its continuing refusal to allow access to the Christian Orthodox pilgrims for worship. The Primate of the Church, Archbishop Chrysostomos B’, has said
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The European Court of Human Rights has found Turkey guilty of violating the human rights of Greek Cypriots, missing since the 1974 Turkish invasion of Cyprus. In its judgment the Court said Turkey is guilt of “the continuing violation of Article 2 of the European Convention on Human Rights on account of failure of the
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J&P ABAΧ, controlled by the Paraskevaides family has been awarded the contract to rebuild Artemida community in Greece, which was badly hit during last summer’s catastrophic forest fires on account of the Republic of Cyprus. The specific contract, exceeding 8,5 million euro, will be signed between the Ministry of the Interior and J&P ABAΧ company.
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Prime Minister Tayyip Erdogan reaffirmed Turkey‘s determination to join the European Union on Thursday and denied there had been a slowdown in reforms. The EU and many Turkish commentators say Erdogan’s centre-right government has lost its appetite for carrying out reforms required by the wealthy 27-nation bloc. “There can be no question of weariness on
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LONDON (Reuters) – The Bank of England left interest rates unchanged on Thursday, following a week of intense speculation over whether it would cut them for a second month running to shore up economic growth. The Bank held the main rate at 5.5 percent, having lowered it a quarter percentage point in December. Still, the
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