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Revenue from tourism down 23pct in September

tourism russians

By Marie Kambas

Revenue from tourism decreased 23 per cent to 273.4 million euros in September compared with the respective month a year ago, the statistical service said.

In January to September, revenue from tourism decreased 2.4 per cent to below 1.7 million euros compared to the first nine months of 2013, Cystat said in a statement on its website today.

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ECB, Commission late in reacting to low demand, Georgiades says

feature - angelos - Dismayed, Finance Minister Harris Georgiades

By Stelios Orphanides

Finance minister Harris Georgiades said that European institutions were late to react to lower demand in the euro area, as the European Central Bank reduced rates further in an attempt to curb the risk of deflation and the European Commission earmarked €300 billion to boost investment together with the European Investment Bank.

“I think we are getting to a kind of a consensus, maybe with a delay, because this could have happened sooner,” Georgiades said today while...

As prices keep falling, Greeks finally start to spend

Prices for home appliances have plummetted in recent years

By Angeliki Koutantou

At Greek home appliance retail chain Electroniki, a washing machine cost 497 euros six years ago. Today, it sells for 356 euros.

Like most Greek companies, Electroniki has slashed prices to hold on to consumers hit by recession. “Small appliances, big discounts” read flyers it recently stuffed under doors.

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Anastasiades to resign if involvement found in CY

President Nicos Anastasiades

President Nicos Anastasiades said on Friday he would resign if a probe found that he was in any way involved in the procedure to sell national carrier Cyprus Airways.

In a written statement, Anastasiades asked the attorney-general, the auditor-general, and the chairman of the House Ethics Committee, to investigate the claims that he was either directly or indirectly involved, through his law office, which had represented one of the suitors, Ryanair, for a short period.

The firm admitted to representing...

Government likely to miss NHS deadlines: auditor

new hospital 21

By Angelos Anastasiou

The health ministry’s ability to meet the demanding deadlines with regard to the phased implementation of the National Health Scheme (NHS) is doubtful, Auditor General Odysseas Michaelides noted in his 2013 annual report, made public on Thursday.

In it, Michaelides said that the audit service “expresses concern over the ability to comply with the timelines, given serious reaction to the government’s bill already voiced both by political parties and other stakeholders (medical staff).”

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Tis the season to be festive

Ledra train1

By Maria Gregoriou

EACH city has its square and each capital uses its square to celebrate, to bring people together. Nicosia is no exception and as of today Faneromeni square will host a three-day Christmas festival.

The event, organised by the Nicosia Tourism Board and the Nicosia Municipality, will start today at 8pm and not let us sleep until 11pm. So come on over and enjoy some jazz music along with some wine buying and drinking. There will also be...

‘Tree of love’ in aid of hospice

hospice Tree BB

By Bejay Browne

A TREE of love in aid of the Friends hospice in Paphos will be launched at a local Christmas fair due to be held on Sunday at the Elea golf club Christmas in Yeroskpiou.

Hospice spokesman Colm Connolly said that the initiative, which was launched two years ago, will enable people to remember loved ones in a special way as Christmas approaches.

“For a small donation, people can place personal notes to friends or family who...

Santa not coming to town again this year, Cypriot shopkeepers say


By Marie Kambas

While Christmas is coming once again following last year’s bail-in, shopkeepers are not so keen whether consumers will spend money for their shopping list in the coming weeks.

Shopkeepers from around Cyprus interviewed by the Business Mail said they are not expecting consumers will spend more money for this year’s Christmas shopping list as the economy continues to contract and unemployment rate continues to hover at 15 per cent.

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And they lived happily ever after

The Snow Queen

By Maria Gregoriou

There are lots of events to take the kids to on Sunday when Nicosia will open up its gates and let all kinds of fairytale creatures and imaginative adventures in. All you have to do is go along to meet them and get lost within a magical place not so far, far away.

First up is the famous fairy tale by Hans Christian Anderson The Snow Queen, which will be performed as part of the pop up...

Eide: There is agreement on hydrocarbons

UN Secretary General’s Special Adviser Espen Barth Eide (Photo: Christos Theodorides)

By Elias Hazou

THE UN Secretary General’s Special Adviser on Cyprus said yesterday he remained optimistic the two sides would resume peace talks, suspended for weeks due to a dispute over the island’s offshore hydrocarbons.

“The problem right now is that we’re not talking… but if we can get back to the table and negotiate, we can solve these issues,” Espen Barth Eide said during a live news show on state broadcaster CyBC.

“If we speed up negotiations we will...

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