The newly elected members of the Cyprus House of Representatives will convene for a plenary session on Thursday June 1 for the first time since the election on May 21. The election as a boost for two of the three coalition partners but a blow for the largest party, the communist AKEL. Among the coalition
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Energy statistics released by the Cyprus Statistical Service CYSTAT for 1995-2006 show a sharp rise on the consumption of both petroleum products and electricity since 1995. Total sales of petroleum products rose by 55% to 2.4 mln tonnes in 2005, from 1.6 mln tonnes in 1995. Heavy fuel oil, mainly used to generate electricity, accounted
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Cyprus is preparing to become part of the presidency of the Organization for the Security and Cooperation in Europe (OSCE) from September. Cyprus’ Foreign Minister George Iacovou met the Secretary-General of the Organization for the Security and Cooperation in Europe (OSCE) Marc Perrin de Brichambaut at the organisation’s headquarters on Monday, during a trip that
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EUR/USD: The euro has completed its correction and is now on its way up with market attention fixed on the likely appointment of Don Evans succeeding TreasySec. John Snow. While Snow was seen as trying his best in order to prevent protectionism, the opposite seems to be the case in respect of Don Evans. Evans
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Louis Group Public Co. Ltd. (LUI) announced that it expects this year’s net profits to be substantially better than last year’s CYP 8.03 mln despite a near doubling in first quarter losses. Operating income during the first quarter fell to CYP 12 mln from CYP 15.4 mln a year ago in the same period. Total
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SFS Group Public Co. Ltd. (SFS) reported a spectacular 256% increase in net profit for the first quarter of 2006 as total income surged 32% on the back of an improvement in all major areas of activity, while cost increases were kept to 5%. Total income jumped 84% year-on-year to CYP 9.24 mln in the
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…another CYP 2.5 fuel surcharge imposed Cyprus Airways (CAIR) confirmed an exclusive Financial Mirror report by announcing the introduction of a new service charge that will add between CYP 10 and CYP 40 to the cost of an air ticket from June 1. Air travelers will also see their total costs go up by an
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ACCA (the Association of Chartered Certified Accountants) elected Dennis Yeates as President at its annual general meeting on Thursday. ACCA is the world’s largest and fastest-growing international accountancy body with 110,000 members and 260,000 students in over 170 countries. Dennis Yeates, Deputy Director of Finance of the Worcestershire Mental Health Partnership NHS Trust is the
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