Cyprus sees downside risk from oil prices

A surge in oil prices could threaten forecast economic growth for Cyprus of 1.5% this year, Finance Minister Charilaos Stavrakis said on Thursday. "The external environment is difficult and fragile," Stavrakis told

M&As will strengthen Russian banking sector

Moody's Investors Service believes that merger and acquisition (M&A) activity in the Russian banking system gained traction in 2010, a trend that is likely to accelerate in 2011. "Moody's considers this to

Yen hits record high versus dollar

The yen briefly hit record highs versus the dollar on Thursday as quake-hit Japan's nuclear crisis unleashed a global risk sell-off, while world stocks ticked higher after Tokyo stocks came off earlier