A clear majority (65%) of businesses across the EU believe there needs to be a more diverse audit market, and 51% support mandatory rotation of audit firms to address the risks of 'over familiarity' between the auditor and the audited company, while 21% do not.

“We welcome any...

NICOSIA -  Cyprus will renew Treasury Bills (T-bills) worth €820m by November 13 to be distributed among five credit institutions and four institutional investors, the Finance Ministry said today in a press release issued in response to recent reports in the foreign press on the financing...

 BRUSSELS — Europe's economy is still reeling and unemployment could remain high for years in spite of the progress made in solving the debt crisis, the European Union warned Wednesday as it downgraded its forecasts for the 27-country bloc.

The European Commission, the executive...

 NICOSIA --- The rate of inflation in Cyprus for October 2012 dropped to 2.6%, compared to 3.6% in September 2012 and 3.2% in October 2011.

According to the Statistical Service of the Republic of Cyprus, the Harmonised Index of Consumer Prices for the first 10 months of 2012 was...

NICOSIA - Germany is reported to be raising the issue of Cyprus' low corporate tax as part of the island's bailout application.Phileleftheros newspaper reported on Tuesday that  the Social Democrats would be making an increase in Cyprus' attractive low corporate tax regime a condition for...

 NICOSIA - Cyprus's Finance Minister Vassos Shiarly said Thursday he hoped international lenders would visit "very very soon" for a final round of talks on financial aid and conclude them before a meeting of euro zone finance ministers on Nov. 12.

Shiarly also told state radio...

 NICOSIA - Tourism revenue in August was a record €312.1m.
At 16.9% this is the biggest annual increase in 13 months according to data released by the Statistical Service.
Based on the results of the Passenger Survey, revenue from tourism in August 2012 amounted to €312.1m...

BRUSSELS — Unemployment in the 17-country eurozone rose to a record 11.6 percent in September, official figures showed Wednesday, in another grim development for a region that is struggling to get to grips with a three-year debt crisis.

The rate reported by Eurostat, the EU's...

 LONDON, Heathrow Ltd, the British airport operator formerly known as BAA, warned full-year earnings would fall short of its target, after fewer passengers travelled through Europe's busiest airport this summer.

"Traffic over the summer months was lower than expected,...

 LONDON - Global consumer confidence edged
higher in the third quarter, underpinned by an improvement in
the United States, although uncertainty about the economy
continued to cap spending, a survey showed.
Sixty two percent of global consumers said they believed
...