WEEK

Financial Mirror (Cyprus) - - FRONT PAGE -

its sale of a majority stake in UK-based Ex­cel Air­ways, Libra is de­ter­mined to keep a pres­ence in the air­line business.

The U.S. is Cyprus’ eight largest trade part­ner with USD 24.8 mln (CYP 12.9 mln) worth of ex­ports headed out of the is­land, with US ex­ports to Cyprus reach­ing USD 326.9 mln. U.S. Am­bas­sador Michael Klos­son told a business con­fer­ence that the two lead­ing ex­ports were cloth­ing and tex­tiles and pro­cessed food, with hal­loumi now on many store shelves in North Amer­ica. The am­bas­sador added that prospects for fur­ther co­op­er­a­tion ex­isted in the ar­eas of fran­chises and joint-ven­tures for ma­jor projects.

Cyprus was among the ten EU mem­ber states with the high­est growth in the num­ber of un­em­ployed in Septem­ber, with Euro­stat data show­ing this had risen from 4.7% in Au­gust to 5.1%. the new en­trant on the Cyprus OTC mar­ket with plans to raise CYP 2 mln in early De­cem­ber by is­su­ing 4 mln shares of 50c each, with the funds used to invest in pub­lic company shares, split be­tween ‘growth’ and ‘in­come’ stocks.

Agro­prom­stroy­bank will mark its first ex­pan­sion out­side Rus­sia when its Cyprus Off­shore Bank­ing Unit (COBU) opens its doors for business and look­ing to fi­nance ma­jor agri­cul­tural and con­struc­tion projects in Rus­sia and the Mid­dle East.

Aeroflot up­graded their air­craft on the long-haul Moscow-to-Rio de Janeiro flights via Lar­naca from the 142-seater Ilyushin Il-62 to the brand new wide-bod­ied 235-seat Il-96n.

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