NICOSIA -- President Demetris Christofias said on Sunday that vigilance is necessary in order to avert deterioration of the economy, due to the financial crisis.Speaking at a conference organised by AKEL women's movement, Christofias referred to the measures his government took last year to boost...

LONDON  — The British subsidiary of Reader's Digest filed for administration, a former a bankruptcy protection, in a move intended to help its parent company complete restructuring under bankruptcy protection in the U.S.The parent, the Reader's Digest Association Inc., said the action to...

NICOSIA - Recession-hit Cyprus is likely to see an economic rebound in the second half of 2010, but the existing state of public finances is "deeply disagreeable", Central Bank governor Athanasios Orphanides said in a newspaper interview."I expect that the economy will start rebounding in the...

NICOSIA – The House Representatives is following very closely the developments of the imminent official approval of the new ‘Cyprus Shipping Taxation System’ by the European Union, which will help to upgrade and maintain the existing tax legislation, to help Cyprus develop into an even bigger...

NICOSIA- Cyprus has successfully concluded its 10-year euro bond issue by raising €1b thus covering its financing needs until November 2010, Finance Minister Charilaos Stavrakis said on Thursday.  After this issue, the government said there is no need for further issues this year. The...

LIMASSOL – Cyprus Communications and Works Minister Nicos Nicolaides has said that as the financial crisis goes on, the shipping industry has to focus on quality, security and efficiency, investing in human resources and new technologies.The Minister was addressing a seminar organized by Cyprus...

DUBLIN — Ryanair, Ireland's major airline, announced yesterday that it would slash its Dublin flights by 19 percent this summer and cut 150 jobs in protest at airport fees and an Irish government passenger tax.Chief Executive Michael O'Leary blamed government-regulated charges, rather than...

PARIS  — Pressure mounted on Airbus parent company EADS ahead of crunch talks on the future of its military plane program, with France's defense minister on Wednesday calling for the company to assume a significant share of the cost overruns.Herve Morin, who styles himself as the hulking gray...

NEW YORK  — Morgan Stanley said Wednesday it earned $617 million during the last three months of 2009 as its investment banking operations profited from its Smith Barney joint venture.The results gave Morgan Stanley its second straight profitable quarter following a year of losses. The bank...

BRUSSELS - The annual inflation rate in Cyprus in November 2009 was 1.0%, up from -1.0% in October, according to figures released by Eurostat on Wednesday.The Eurozone annual inflation was 0.5% in November 2009, up from -0.1% in October. A year earlier the rate was 2.1%. Monthly inflation was 0.1%...