The opening of a new checkpoint crossing on the divided island of Cyprus, envisaged as a boost to slow-moving peace talks, will take months, the Turkish Cypriot side said on Monday. Greek and Turkish Cypriot leaders agreed in June to open the crossing in a remote mountain region in the island's northwest, a symbolic move
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Cypriot tennis player Marcos Baghdatis climbed 25 places in the ATP World Tour ranking after securing the championship at the men’s single at the Odlum Brown Van Open over the weekend and now ranks 111th with 580 points. The title is Baghdatis’ first at any level since triumphing at the ATP World Tour 250 tennis
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The European Union has contributed another EUR2 mln to the Committee on Missing Persons Project on the Exhumation, Identification and Return of Remains of Missing Persons in Cyprus. The contribution follows the specific request of the European Parliament. The agreement was concluded on 4th August between the European Commission and the United Nations Development Program.
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China and other emerging powers should become bigger aid donors because the global financial crisis may reduce funds to fight some of the world's worst diseases, a senior Global Fund official said on Tuesday. Michel Kazatchkine, executive director of the Global Fund to fight HIV/AIDS, TB and malaria, said in an interview that nations such
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The dollar edged down against the euro on Tuesday and market players pondered whether the U.S. currency could sustain its gains from its recent rally on the back of smaller U.S. job losses last month. The jobs data boosted expectations for higher U.S. interest rates by early next year, so investors will likely take their
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The UK's largest pension fund, the BT Pension Scheme, is planning to invest in distressed debt, in a sign that such once-niche investments are attracting mainstream investors. The investment will form part of an increased allocation to a credit portfolio the scheme set up at the end of 2008 to exploit dislocations in the credit
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Britain's goods trade gap with the rest of the world widened slightly more than expected in June as the oil balance swung into deficit due to summer maintenance work, official data showed on Tuesday. The Office for National Statistics said that the goods trade gap rose to 6.451 billion pounds from 6.174 billion in May.
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Britain's top share index moved 0.4 percent higher on Tuesday, tracking gains in Asia, as energy majors and mining stocks were in demand, while Friends Provident rose on an improved takeover offer by Resolution. By 0806 GMT, the FTSE 100 climbed 16.30 points to 4,738.50, mirroring strength in Asia where Japan's Nikkei hit its highest
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The drop in house prices in England and Wales eased further in July and retail sales rose across Britain, surveys showed on Tuesday — yet more signs the recession-hit economy is starting to find its feet again. Recent economic surveys have suggested the worst downturn in decades in Britain could be coming to an end,
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Moody's Investors Service has placed the ratings of four banks in the United Arab Emirates (UAE) on review for possible downgrade reflecting the rising challenges facing the sector, chiefly triggered by the stressed domestic property market (especially in Dubai), as well as the economic slowdown forecast for 2009 with a modest recovery in 2010. The
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