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.