European leaders struggled to reconcile austerity with growth on Monday at a summit in Brussels due to approve a permanent rescue fund for the euro zone and put finishing touches to a German-driven pact for stricter budget discipline. Officially, the half-day summit was meant to focus mainly on ways to revive growth and create jobs
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Less Cypriots travelled abroad in 2011, as data from the Cyprus Statistical Service show. On the basis of the results of the Passengers Survey, for the period January – December 2011, 1.208.899 residents of Cyprus returned from a trip abroad compared to 1.246.378 in the corresponding period last year recording a decrease of 3.0%. In
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. BY DR. ANDRESTINOS N. PAPADOPOULOS, AMBASSADOR A.H. We often hear about “secret diplomacy” as opposed to “open diplomacy”. Both schools of thought have their followers and the dilemma is posed when one has to choose between secret and open diplomacy for the promotion of the state’s interests. The interests of the state are promoted
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. BY PERSELLA IOANNIDES When the Greek debt crisis first erupted in April 2010 the EURUSD declined from 1.35 reaching 1.19 in June 2010. Various investment gurus expressed pessimistic views, even betting on the EUR to fall to parity with the USD as at its birth in May 1998. With the May 2010 bailout of
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. BY MICHALIS MAKROMINAS The ratio of Book Value of Equity to Market Value of Equity (henceforth B/M ratio) has always presented a puzzle in contemporary finance. Book Value of Equity is typically defined as the difference between a company’s assets and liabilities. The Market Value of Equity equals the share price of a company
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Hong Kong shares snapped a six-session winning streak on Monday as investors sold some of this year's outperformers after Beijing failed to meet expectations for a cut in the bank reserve ratio over the week-long Lunar New Year holiday. The Hang Seng Index closed down 1.66% at 20,160.41 points. The China Enterprises Index of top
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Government Spokesman Stephanos Stephanou said on Saturday that the government aims at finding a strategic investor for Cyprus Airways, the island’s national air carrier. Asked whether the government would sell the majority stake it holds in Cyprus Airways to a strategic investor, Stephanou said that the Ministry of Finance in cooperation with Cyprus Airways are
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EU leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on the discussions. The summit – the 17th in two years as the EU battles
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The euro came off six-week highs against the dollar on Monday as investors took profits made on its strongest weekly rally in more than three months and cautiously awaited a debt swap deal between Greece and its private creditors. The Australian dollar soured the mood more, moving further away from three-month peaks hit in the
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Brent crude edged down on Monday as investors cautiously eyed a European Union summit for a resolution to the region's debt crisis, but prices stayed above $111 per barrel on concerns over supply from Iran and South Sudan. EU leaders are expected to sign off on a permanent rescue fund for the euro zone at
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