Cyprus announces EUR 52 mln aid package

The Cyprus cabinet, meeting under the auspices of President Demetris Christofias announced an “aid package” amounting to EUR 52 mln support the construction and tourism industries, so that they are not affected

Alliance Re ratings improve

Alliance International Reinsurance Public Company Ltd (ALL.CY) announced that following the acquisition by Flagstone Re., the international insurance rating agency A.M. Best has upgraded the financial strength rating (FSR) of the Company

Aspis Holdings expects better results

Aspis Holdings Public Company Ltd (ASP.CY) announced that the Company’s Board of Directors will convene on Wednesday, November 26, 2008 at 4.00 pm to examine the consolidated financial statements for the 9-month

Americans uneasy over bailout for automakers

As Congress debates legislation to help struggling automakers on Monday, many Americans said they were uneasy with the plan, arguing that while it may save jobs, it would reward companies for pursuing

Asia stocks slip with focus on grim outlook

Asian stocks slipped on Monday in choppy trade, despite some buying of Japanese shares by long-term investors, on expectations corporate results will reflect deteriorating economic conditions until at least the second half

Recession hits Japan, IMF needs more money

Japan became the latest major economy to fall into recession Monday with France close behind, and the IMF said it needed at least $100 billion to fight the billowing economic crisis enveloping