Cyprus Airways is likely to see its fuel bill rise by a further CYP 5 mln this year following the 65% increase in crude oil prices since last year with more losses forecast for 2005 as the troubled national carrier prepares its “make or break” strategic plan. Cyprus Airways (CAIR) Chairman Lazaros Savvides who took

Sharp swings in currency rates coupled with higher fuel costs are playing havoc with earnings forecasts made by Louis Public Co. (LUI), with Group Chairman Costakis Loizou saying no firm prediction is possible. Addressing shareholders during the Annual General Meeting of shareholders, Loizou said the recent abrupt fluctuations in exchange rates, especially in the value

But some results are problematic According to the latest Economic Sentiment Indicators published by the European Commission, economic sentiment in Cyprus declined on a seasonally adjusted basis for the third month in a row in June to 92.8 points, compared with a slight rise in the euro-area to 96.3 points and a decline in the

Petrol prices rose on Wednesday by 1.5-2 cents per litre, in response to rising international oil prices. EKO and Petrolina announced price rises of 1.5-2 cents on Wednesday, with other outlets expected to follow. The price of unleaded 98 petrol has reached 52.9 cents (around 0.90 euros) per litre, while unleaded 95 is 50.9 cents.