Leading budget airline easyjet is set to start flights to Paphos from London Gatwick and Manchester at prices starting from GBP50 and GBP30 respectively for single fare flights. The new routes are expected to commence from March 2008. Easyjet, established since 1995 is listed on the UK stock exchange and carries 38 mln passengers annually.

The year-end consumer inflation rate hit 3.9% in Cyprus in December, as increases in fuel and food prices pushed up the index.  The consumer price index for December 2007 increased by 0.34 units or 0.32% over the previous month to 108.07 units, compared with 107.73 in November 2007. The Statistical Service said that this was

The integration of Cyprus into the euro area: The beginning of new challenges and new opportunities   By Athanasios Orphanides Governor of the Central Bank of Cyprus   January 1, 2008 marks the full integration of Cyprus into the economically and politically powerful euro area, which is undoubtedly one of the most important positive challenges

Cyprus becomes at midnight the 14th European Union member to join the euro-zone. The adoption of euro is being described as a landmark in the financial history of Cyprus. Malta will also adopt the euro at the same time. Cyprus will welcome the single currency with special ceremonies on December 31, at 2330 local hours

The credit outlook for rated Qatari banks remains stable, reflecting continued macroeconomic improvements, solid financial performance and expanding bank franchises, Moody’s Investors Service said in its new Banking System Outlook for Qatar. The report also noted some significant credit and funding concentrations and the  increasing level of competition. “Not only has the operating environment for

The outlook for Moody’s rated banks in the United Arab Emirates (UAE) is stable, reflecting solid financials underpinned by a vibrant economy and strong growth in a benign environment, Moody’s Investors Service said in its new Banking System Outlook for UAE. However, these positive factors are counterbalanced by elevated credit risks associated with robust growth

The key European industrial property markets weakened in the first half of 2007 as a reduction in demand coincided with increasing vacancy rates, Moody’s Investors Service said in its latest Special Report on these markets. Moody’s “Red-Yellow-Green” reports, which are published semi-annually, assess the strength of European industrial property markets that support commercial mortgage-backed securities

The real estate sector in the UAE is set to attract over SAR 30 bln (USD 8 bln) of Saudi investments in 2007 as the growth in interest by the global community in the local real estate industry continually soars. The key factor driving this growth has been the emergence of significant government legislation aimed

The credit outlook for rated Armenian banks is stable, reflecting an evolving regulatory framework, buoyant credit growth, low banking penetration, robust aggregate capitalisation and good asset quality, Moody’s Investors Service said in its new Banking System Outlook for Armenia. These strengths are offset, however, by the challenging operating environment, potential for accelerated asset quality deterioration