Housing costs rose by the most in 2005, followed by alcohol, beverages and tobacco, according to the latest consumer price data incorporating December. However, consumers also enjoyed a steep fall in the price of communications, which helped bring the overall consumer price inflation rate down to 2.6% in 2005, not much higher than the 2.3%

Delta Air Lines pilots have ratified an interim agreement drawn up by management and the Air Line Pilots Association (ALPA) that includes a 14% hourly pay cut that will save the company about 143 mln dollars annually. Pilots also voted in favour of other reductions equivalent to about an additional 1% in pilot pay. Under

PrimeTel, EAC’s strategic partner in the telecommunications sector, is about to shake the market with its Triple Play service and herald the first real challenge to the state owned CyTA in the fixed telephony and ADSL-linked home entertainment market. Stephanos N. Stephanou, Marketing Manager at PrimeTel, told the Financial Mirror that following the successful testing

A new pizza is about to hit the Cyprus market, triggering off yet another sector skirmish in the various ongoing trade wars on the island. Mama’s Pizza is expected to hit the markets next Wednesday as a new product in the ‘traditional’ type of locally-developed pizzas, while its developer, PHC Restaurants, remains the dominant force

The Central Bank of Turkey has withdrawn all old Turkish lira banknotes from circulation as of January 1, 2006. According to reports, old Turkish lira still account form around 5% of money in circulation. The old notes can be exchanged at central bank branches and the Ziraat Bankasi (Agricultural Bank of the Republic of Turkey)

Ukraine’s natural gas company Naftogaz said on Monday that it will meet all of its contractual commitments to ship natural gas to European countries, following Russia’s cut-off of gas supplies on Sunday. However, Gazprom announced on Monday that it would increased supply to Europe via Ukraine by 95 mln cu metres per day. The stop