Capital Intelligence has downgraded Latvia’s long-term foreign currency rating to ‘BBB-‘ from ‘BBB+’ and its long-term local currency rating to ‘BBB’ from &ls....

Construction starts on new U.S. homes fell to a record low in October, as did new applications for building permits, data showed on Wednesday, signaling that the national housing downturn may extend w....

Speech at the launch of the 1st European Antibiotic Awareness Day. EP Strasbourg, 18 November 2008 I am very pleased to be here today for the launch of the first European Antibiotic Awareness ....

Oil falls to 22 month low as economic gloom deepens

Oil prices fell toward $53, touching a fresh 22-month low on Wednesday, due to increasing signs of weakening demand as economic gloom deepened. U.S. light crude fell as low as $53.30 a barrel, the....

UK warns on cost of rehashing bank bailouts

British finance minister Alistair Darling said on Tuesday that any renegotiations of last month's 37 billion-pound ($56 billion) bailout package for the country's banks could prove costly fo....

Indian navy destroys pirate boat, more ships taken

An Indian warship destroyed a pirate ship in the Gulf of Aden and gunmen from Somalia seized two more vessels despite a large international naval presence off their lawless country. The buccaneers....

Archbishop Chrysostomos calls for peace in Cyprus

 Primate of the Greek Orthodox Church on the island, Archbishop Chrysostomos B’ appealed to the representatives of the religious communities which participated in the International Meeting ....

ΕU to launch social campaign in Cyprus

Vladimir Spidla, Employment, Social Affairs and Equal Opportunities Commissioner, will be in Cyprus on Thursday to inaugurate a three-day information campaign entitled “Do you know what Social E....

Bank of Cyprus shares go ex-dividend on Nov 24

Bank of Cyprus reminds the investing public that its shares will trade ex-interim dividend the EUR 0.15 per share on Monday, 24 November 2008, i.e. buy transactions that take place before market close....

“Get Cyprus off tax black list”, Christofias to tell Russia

Cyprus President Demetris Christofias is in Moscow this week where he will sign a total of seven agreements during a state visit described by the government as “very important” that will h....

UK petrol prices make largest monthly drop ever-AA

Average UK retail petrol prices made the largest monthly drop over the past month, the Automobile Association (AA) said on Tuesday. The average petrol prices dropped by 11.54 pence in the month to....

EU to make proposals on hedge funds next month

The European Commission will make proposals on hedge funds and private equity next month, the head of the EU's executive arm said on Tuesday. "About actions relating to hedge funds and p....

Ford abandons Mazda control with 20 percent stake sale

Ford Motor Co, scrambling for cash as the U.S. Big Three automakers struggle to stay alive, will end 12 years of control of Mazda Motor Corp through the sale of a 20 percent stake in the Japanese carm....

Cyprus’ trade deficit at EUR4.1 bln in 8M08, says Eurostat

Cyprus’ trade balance surged to a EUR 4.1 bln deficit in January – August 2008, according to Eurostat. The total value of exports reached EUR 700 mln marking a 7% growth, compared to last ....

UK Oct inflation falls at record pace to 4.5 pct

Tumbling petrol prices pushed British annual consumer price inflation down for the first time in more than a year in October and at the fastest pace since the series began in 1997, official data showe....

Cyprus industrial turnover up 5.5% in August

The Cyprus industrial turnover index reached 134.4 in August 2008 (base 2000=100), recording an increase of 5.5% compared to August 2007. Industrial turnover comprises mining and quarrying, manufact....