Cyprus finds its economy entangled in US-Russia tug-of-war
By Stelios Orphanides While the increasingly stricter anti-money laundering (AML) practices applied in the Cypriot financial system in recent years are already disgruntling businesses, the
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Hoteliers expect more tourists in 2016 as sterling, rouble weaken
By Stelios Orphanides Hoteliers are “cautiously optimistic” that the island’s tourism industry may see a further boost in 2016 even if the weaker British pound
Putin says Russia is weathering sanctions storm
By Timothy Heritage President Vladimir Putin said on Friday Russia had a “sufficient supply of inner strength” to overcome its economic problems and assured investors
Ukraine’s Poroshenko warns of Russian invasion threat after fighting surge
By Richard Balmforth and Pavel Polityuk Ukraine’s president told his military on Thursday to be prepared for the possibility of a “full-scale invasion” by Russia
Putin defiant over economy, Ukraine in annual phone-in (Updated)
By Denis Pinchuk and Timothy Heritage President Vladimir Putin tried to reassure Russians over the ailing economy and said Washington wanted “vassals” rather than allies
Russians stand in line to mourn by coffin of slain Nemtsov (Update 2)
By Alexander Winning and Gabriela Baczynska Thousands of Russians, many carrying red carnations, on Tuesday filed past the coffin of Boris Nemtsov, the Kremlin critic
Cyprus working with Russia to bring Chinese tourists to the island
By Jean Christou Cyprus is working with Russia to bring Chinese tourists to the island, Tourism Minister Giorgos Lakkotrypis said on Thursday. The minister was
Belarus devalues currency again to protect against Russian economic fallout
By Andrei Makhovsky Belarus took further emergency steps on Thursday to defend itself from economic turmoil in Russia, devaluing its currency by around 7 percent
CTO scrambles to salvage losses from Russian market
Tourism authorities are intensifying efforts to minimise losses from an expected drop in arrivals from Russia due to the economic sanctions imposed on the country
Arguing over Russian reserves: $400 bln or half that?
By Sujata Rao Defending the rouble has cost Russia around $80 billion this year, and depending on who’s doing the calculations, its usable hard currency
Putin says Russia economy will be cured but offers no remedy (Update 5)
By Timothy Heritage and Alexei Anishchuk President Vladimir Putin assured Russians on Thursday that the economy would rebound after the rouble’s dramatic slide this year
Rouble slides before Putin news conference on Russia crisis
By Timothy Heritage Russia’s rouble lost more ground against the dollar on Thursday before President Vladimir Putin’s end-of-year news conference, expected to be dominated by
Russia raises rates in emergency move as rouble collapses
Russia’s central bank raised its key interest rate to 17 percent from 10.5 percent early Tuesday in an emergency move to halt a collapse in
Worrying decrease in Russian tourism
A 20 PER CENT drop in the number of Russian tourists is expected next summer if current trends continue, according to the honorary president of
Putin says foes hope to dismember Russia; rouble falls as he speaks
By Timothy Heritage and Alexei Anishchuk President Vladimir Putin accused Russia’s enemies on Thursday of seeking to carve it up and destroy its economy to
Russians’ Cypriot haven undisturbed by sanctions, tensions
By Laura Noonan Cypriots say their island paradise, home to thousands of Russians seeking sun, tax benefits and an EU entry point, has not suffered
Napa mayor heads to Moscow for tourism fair
By Staff Reporter Ayia Napa Mayor Yiannis Karousos is heading for Moscow to attend the 21st international tourism fair that runs from Wednesday until Saturday.
Putin: military force would be ‘last resort’ in Ukraine
President Vladimir Putin delivered a robust defence of Russia’s actions in Crimea on Tuesday and said he would use force in Ukraine only as a last resort, easing market fears that East-West
Russian Central Bank pledges to defend rouble against slide
Russia’s central bank pledged on Thursday to launch unlimited foreign exchange interventions if the rouble’s exchange rate strays outside its target corridor, a response to