Oil for August delivery touched $60 a barrel for a second day Friday on the New York Mercantile Exchange. The contract traded at $59.79 at 11:27 a.m. in Singapore in after-hours electronic trading. Oil has risen 58% in a year and gained 21% in the past month. Crude oil prices are more likely to rise

The House of Parliament approved the bill for the establishment of the Legal Aid Fund which will help small to medium sized investors taking legal action to regain losses incurred during the 1999-2001 stock market bubble. The main provisions of the legal aid bill is to help private investors, whose income does not exceed CYP

The House of Representatives unanimously approved a government request extending the retirement age of civil servants to 63 as part of efforts to improve public finances to qualify for euro entry by 2008. Finance Minister Makis Keravnos said the extension, from 60 to 63, would save the government CYP 20 mln this year, if it

The number of building permits authorised during March showed a moderate increase of 4.5% year-on-year to 820, but the capacity and value of the permits surged sharply higher, according to data released by the Statistics Department. The total value of the permits reached CYP 130,1 mln for a 35.4% year-on-year rise and the total area

Cypriots’ love to travel abroad is showing no signs of slowing as evidenced by the latest statistics which showed that foreign travel recorded an 8.8% increase in May to 72.752 persons. During the first five months of the year, a total of 319.000 persons traveled abroad compared to 295.000 a year ago in the same