Greek banks climb as debt deal inches closer

Greek banking stocks jumped 11.4% and outperformed European peers on Tuesday after European Union officials said Athens could strike a debt swap deal with its private creditors within days. The index is

IMF’s Thomsen says Greece must step up reform

Debt-laden and recession-hit Greece must accelerate structural reforms and slow down on deficit reduction, the head of the IMF's inspection team for Greece was quoted as saying on Wednesday. Austerity policies imposed

Cyprus petroleum sales up 0.5% in 2011

Total sales of petroleum products rose by 0.5% in 2011, according to the Statistical Service. There was a significant increase in the sales of kerosene (18.8%), gasoil (14.5%), liquefied petroleum gases (11.3%),