Cyprus MEP Eleni Theocharous, a member of the European Popular Party, walked out of a European Parliament meeting in Ankara when she realised that her accreditation had been purposely changed by the Turkish Foreign Ministry. Theocharous said that her documentation at the joint meeting of the European Parliament Committee on Environment, Public Health and Food
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Royal Bank of Scotland expects difficult market conditions in the fourth quarter, with banks around the world hit by Europe's debt crisis, and the part-nationalised lender added it had taken more writedowns on its Greek exposure. RBS, which is 83% owned by the British government following a state bailout during the 2008 credit crisis, said
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Company's All-New Cinema Lens Lineup, Video Camcorders and Digital SLR Cameras to Leave No Story Untold Canon Inc. today announced Canon's full-fledged entry into the motion picture production industry with the launch of the Cinema EOS System. Canon's new professional digital cinematography system spans the lens, digital video camcorder and digital SLR camera product categories.
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Greek Prime Minister George Papandreou faces a knife-edge confidence vote on Friday after his plan for a referendum on a bailout — supposed to save both Greece and the euro zone from disaster — backfired spectacularly. But even if his socialist government survives the parliamentary vote, Papandreou's days as Greek leader looked numbered after a
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A 798 mln euro ($1.10 bln) impairment on Greek assets pushed Commerzbank to a third-quarter operating loss and forced it to abandon its target for next year, as Germany's second-largest bank struggles to repay state aid amid euro zone market jitters. "We continue to be committed to our original operating profit target of 4 billion
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Asian shares rose more than 2% and the euro steadied on Friday on hopes Greece will abandon a proposed referendum on a European Union bailout, but investors remained cautious over a confidence vote scheduled for later in the Greek parliament. Greece's abrupt call for a referendum, just days after a deal was struck to save
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Greek Prime Minister George Papandreou on Thursday offered to hold talks with the opposition to resolve the country's political crisis and softened his stance on a referendum on the country's vital bailout package. In a speech to his cabinet on Thursday, Papandreou said he would assign the task of discussions with the opposition to two
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If Greece decided to leave the euro, it would also have to quit the European Union, according to the terms of the EU's treaties, the European Commission said on Thursday. "The treaties indeed confirm what we have been saying here: the treaty doesn't foresee an exit from the euro zone without exiting the EU, so
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Moody's Investors Service is maintaining its negative outlook on the banking system of the United Arab Emirates because of the ongoing trends of corporate deleveraging, asset quality challenges and the subdued profitability of UAE banks in the wake of continued provisioning needs. The decision was mainly driven “by the legacy asset quality challenges related to
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* 600 mln in MCN for greater capital buffer * Bank of Cyprus has decided to strengthen its capital base via a rights issue of up to 396 mln euros (US$ 546 mln) and a voluntary exchange of convertible securities. The move follows increased regulatory capital requirements and the impact of further writedowns on its
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