Cyprus president Demetris Christofias has appointed his close aide and former communist lawmaker Kikis Kazamias as the new finance minister in a cabinet overhaul aimed at propping up popular support amid a
The Swiss franc hit a fresh record high against the euro while the Aussie fell in early Asian trade on Friday as mounting fear of an economic quagmire in the United States
U.S. crude fell below $86 on Friday, heading for its biggest weekly drop since early May, as fears of a global economic slowdown drive investors to the exits in a commodities sell-off
Allianz missed expectations with a 8.2% drop in net profit in the second quarter, hurt by a writedown on its Greek government debt. Quarterly net profit after minorities was 1 bln euros
World stock markets fell for the eighth straight session on Friday to the lowest since late 2010, with more losses feared if policymakers do not come to the rescue soon to stabilise
Crooked property developer Gary Robb was slapped with an eight-day remand order by a Cyprus court on Thursday for cheating fellow Britons out of millions for holiday homes he could not deliver
* ECB throws banks funding lifeline, hints at resumed bond buys * European policymakers tried to turn a more powerful fire hose on the euro zone debt crisis on Thursday but
Summer retail discounts helped pushed Cyprus's consumer price inflation down to 3.7% year on year in July from a June reading of 4.2%, the island's statistics department said on Thursday. On a
Germany's second-biggest lender, Commerzbank , will post writedowns of more than 700 mln euros ($1 bln) on its Greek sovereign bond holdings in the second quarter, three sources told Reuters. That would
Cyprus is to auction up to 20 mln euros worth of 10 year bonds domestically on August 22, offering a 6.50% coupon, the finance ministry said on Thursday. Authorities last offered debt
