It is not unusual for a single-operator sector of the economy to have a regulator in order to ensure that consumer rights are protected and the taxpayers’ money is not squandered, while maintaining some control on cost and fee fluctuations. With the airports’ new operator coming under constant attack from scheduled and charter airline companies,
More
By Michael S. Olympios Chief Consultant Allied Business Consultants  As the annual general meetings’ season close nearer some shareholders are getting busy. In the past, dominant CEO’s were running the show with glossy speeches praising last year’s “miraculous†performance “despite competitive pressures and other hardshipsâ€. Active investors are becoming tired of the rhetoric of
More
By Dr. Jim Leontiades Cyprus International Institute of Management  The conflict between the National Bank of Greece and the Bank Employees Union (ETYK) dramatises the opening of a new era in labour management relations. By calling a strike against the decision of National Bank of Greece (NBG) to bring four managers from Greece to
More
Cyprus Finance Minister Michalis Sarris expressed satisfaction over European Commission’s decision to recommend the accession of Cyprus to the European Monetary Union (EMU) on January 1 2008.Sarris was speaking after EU Commissioner for economic and monetary affairs Joaquin Almunia announced that he would recommend to the the European Council and the ECOFIN , the accession
More
The Cypriot government is committed to social grants to help low income families, in response to the self-restraint and the responsible behaviour working people have shown in the overall effort to meet European Union criteria to adopt the euro, Cyprus President Tassos Papadopoulos said.Addressing the annual congress of one of the two largest trade unions,
More
Marfin Investment Group (MIG), formerly known as Marfin Financial Group, announced details of its proposed rights issue to raise up to EUR5.19 bln, which will be used for investments in south east Europe and other emerging and fast expanding markets. MIG said it will offer 14 new shares for every one held at EUR6.7 per
More
Standard & Poor’s Ratings Services said that the European Commission’s and the European Central Bank’s proposal to the EU Council that the Republic of Cyprus (A/Positive/A-1) and the Republic of Malta (A/Stable/A-1) be allowed to join the Eurozone in 2008 does not have any immediate impact on the sovereign ratings. “The expectation that both Malta
More
Standard & Poor’s Ratings Services said today it lowered its long-term sovereign rating on the Republic of Latvia to ‘BBB+’ from ‘A-‘ due to the increasing risk of a hard landing and persistent external imbalances. The short-term sovereign credit rating was affirmed at ‘A-2’. The outlook is negative. At the same time, Standard & Poor’s
More
Cyprus had the fourth best inflation rate in the EU in April, according to figures r by Eurostat. The annual harmonised inflation rate in Cyprus was 1.6% in April, compared to 1.4% in March, while the average in the Eurozone was 1.9% and in the EU as a whole 2.2%.The lowest rates were recorded in
More
The primate of the church of Cyprus Archbishop Chrysostomos II has appealed to Moslem religious leaders to exercise their influence on Turkey in an effort to help protect religious holy sites in Turkish occupied Cyprus, pillaged for the past three decades. Speaking on his return from Brussels, having attended a meeting of the three monotheistic
More