Eight European banks have failed a test of their ability to withstand a long recession and will have to raise just 2.5 bln euros ($3.5 bln) of capital, significantly less than expected.
The two leading lenders on the island, Bank of Cyprus and Marfin Popular Bank, have passed the stress test conducted by the European Banking Authority, simulating a financial shock. Eight of the
* Public angry at power cuts, storage arrangements * Cyprus President Demetris Christofias, facing public fury over a munitions blast that killed 13 people and caused a power crisis, apologised on Friday
Total expenditure on research and development (R & D) in Cyprus reached an estimated EUR 83.0 mln in 2009, or just 0.49% of GDP according to an ad hoc survey by the
Total imports/arrivals from other EU member states in May reached EUR 521.2 mln, according to preliminary estimates for foreign trade in May. Of this total, EUR 339.3 mln consisted of arrivals from
Hotels to stay supplied with electricity June saw a repeat of strong tourism arrivals in Cyprus, with the number of tourist arrivals rising by 9.3% to reach 300,817 in June 2011, compared
Animal lovers can now take their pets to public parks, despite municipal signs that ban them from doing so. However, they should make sure that they clean up after their dogs or
Notorious Somali pirates who often capture enormous ships and hold their cargo for ransom, have hijacked a vessel carrying livestock off the shores of the semi-autonomous region of Puntland. The vessel was sailing
Standard Chartered is considering buying Piraeus Bank's Egyptian subsidiary, a deal that would boost the Greek bank as it seeks to strengthen its balance sheet in light of the downturn facing debt-laden
Crowds continued to gather outside the Presidential Palace in Nicosia for a fourth consecutive day on Thursday, expressing their grief and anger over the circumstances that led to Monday’s deadly blast at
