Treasury Secretary Timothy Geithner said without government backing for the housing finance system, future economic downturns could be harsher, when discussing the future of Fannie Mae and Freddie Mac. The two mortgage
The Cyprus government is preparing its 2011 State Budget, which will be focused in reducing the fiscal deficit by EUR 300mln to 4.25% of GDP, through spending cuts, higher taxes and the
Cypriot Banks have tightened the criteria for granting loans to businesses and households in the second quarter of 2010, in comparison with the first quarter of the year, according to the Bank
Cypriot tennis player Marcos Baghdatis beat Thomaz Belucci 2-1 set in the second round of the Cincinnati Masters Tournament, and qualified for the third round. Baghdatis won the first set 6-2, lost
U.S. housing starts rose but to a much weaker rate than expected in July, while permits for future home construction fell to their lowest level in more than a year, pointing to
Greece's largest lender National Bank raised its 75% stake in Macedonia's Stopanska Banka on Tuesday, buying an additional 20% on the Skopje stock exchange, an NBG official said. "The additional shares were
British airport operator BAA offered ground staff a 2% pay rise plus a one-off payment of at least 500 pounds ($781), averting strikes which had threatened to close major UK airports, the
After many weeks of intense negotiations, Irish low cost airline Ryanair has agreed to include Larnaca in its destinations. The decision was taken on Monday evening and Hermes Airports has already been
British consumer price inflation slowed in July but as expected remained above 3%, forcing a third open letter from the Bank of England this year to explain why inflation is still above
Asda, Britain's No. 2 grocer, said the outlook to the end of 2010 remains challenging with UK families facing the lowest amount of disposable income in the final quarter for two years.
