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Financial Mirror (Cyprus) - - FRONT PAGE -

Moody’s out­look:

Moody’s is­sued a sta­ble credit out­look for Cyprus as­sign­ing an A2 rat­ing for govern­ment bonds due to a “rel­a­tively ro­bust GDP growth, low in­fla­tion and un­em­ploy­ment. De­spite the rel­a­tively high level of pub­lic debt, this does not af­fect the govern­ment’s bond rat­ings or the coun­try ceil­ing for long-term for­eign cur­rency banks de­posits,” the rat­ing agency said. Moody’s fore­cast that pub­lic sec­tor deficit will reach 2.1% of GDP in 2006 and 2% in 2007, with pub­lic debt at 69.1% and 67.8% of GDP.

Louis Plc is tak­ing de­liv­ery of the 850-pas­sen­ger Ori­ent Queen for $22 mln to cater to the grow­ing Greek mar­ket. The ves­sel was hired by

Louis cruises ahead:

the US Dept. of De­fence to evac­u­ate sev­eral thou­sand Amer­i­cans from Beirut last July. Ear­lier this year Louis also bought the re­fur­bished Birka Princess from Fin­land for $35 mln and re­named Sea Di­a­mond.

Hote­liers gave in to trade union de­mands and bi­ased me­di­a­tion from the Labour Min­istry to avoid fur­ther crip­pling strikes in the vi­tal tourism sec­tor. Al­ready, two strikes have been averted as unions de­mand im­prove­ment of the 14th salary, ex­tended med­i­cal in­sur­ance and more hol­i­days re­warded by dou­ble over­time.

Ho­tels stand­off:

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