The US Embassy in Cyprus has issued a statement by Cyprus President Tassos Papadopoulos “misleading” and emphasised that the US does not have the authority to decide about whether the buffer zone has been encroached. “In his recent statements, President Papadopoulos has implied that the United States — alone among permanent members of the Security

The number of employed persons in Cyprus reached 338.000, according to the 2004 report on “Labour Force Survey” published by the Statistical Service. The main findings of the survey note that the labour force amounted to 355.000 in 2004, consisting of 56% men and 44% women. The employed persons reached 338.000 and the employment rate

A massive over-subscription during the 10-year bond and 52 week T-Bill auction helped in a big plunge in bond yields, which hit a new record low amid signs of further interest rate cuts in the near future. During the 10-year bond auction held on November 30, the Central Bank, acting on behalf of the government

National coin design shortlisted Cypriot businesses who take advantage of the introduction of the euro by increasing prices could see themselves being named and shamed by the authorities, according to Financial Mirror sources. The government is targeting the adoption of the euro on January 1, 2008. The “irrevocable exchange rate” of the Cyprus pound, likely

— To lower fiscal deficit to 3.7% of GDP Cyprus Finance Michalis Sarris said Thursday that the prospects of the economy for 2006 appear to be “encouraging,” adding that during 2006 it is predicted that the economy recovery and the stabilisation of public finances would continue. Speaking before the House of Representatives during the discussion

Louis Public Company Ltd. has announced an improvement in third quarter results, compared to the same period last year, with an 11% rise in turnover for the cruise business and 18% in the hotels. A company announcement said this was due mainly to sustaining costs and an increase in the cruise fleet and hotel portfolio,