Europe halted a slide in stocks and Wall Street was set for a firmer start on Tuesday, keeping alive some momentum from the bailout of U.S. mortgage firms Fannie Mae and Freddie Mac. World stocks posted their biggest gains on Monday since the rescue of Bear Stearns in March after Washington seized control of the
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Cypriot track and field athlete Antonis Aresti won the silver medal in the 200m T46 race, having clocked in with 22.15, at the Beijing Paralympic Games. The gold medal went to Francis Heath and the bronze to Ettiam Calderon. Cyprus is now ranking 24th in the medal chart, with one gold and one silver medal.
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Cyprus Minister of Finance Charilaos Stavrakis met on Tuesday representatives of the Chinese multinational company Hiking Group, as part of government efforts to attract foreign investment, especially from countries with big and important markets such as China. According to a press release issued today by the Ministry of Finance, the meeting is the continuation of
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OPEC ministers meeting on Tuesday were widely expected to keep output targets steady for now, but could act soon to prevent excess supply weighing on the market. Oil prices, which hit an all-time high of $147.27 in July, have fallen by nearly 30 percent to a five-month low of less than $105 a barrel, the
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Although equities are still falling across the globe, the outperformance of US stocks versus Eurozone (S&P 500 dropped by 14% since the start of the year compared to 26% in the case of the EURO STOXX) and EM equities is clear evidence that the international financial community is re-allocating assets into the US and the
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LONDON, Sept 9 (Reuters) – British finance minister Alistair Darling is preparing to intervene to stimulate the UK housing finance market, The Times newspaper quoted senior government officials as saying. The newspaper said Darling was waiting for the final proposals from James Crosby, the former chairman of HBOS, on which he will base his efforts
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By Pedro Nicolaci da Costa (Reuters) U.S. mortgage rates fell on Monday after the government seized control of Fannie Mae and Freddie Mac, raising hopes the plan would provide at least temporary respite from troubles in housing and credit markets. Stock prices rallied around the world as investors felt that federal backing could stem some
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Serbia's parliament overwhelmingly backed the Stabilisation and Association Agreement with the European Union on Tuesday, a move expected to cement the nation's bid for membership of the bloc. The pact will be fully implemented only when EU officials are satisfied Serbia has fully cooperated with the war crimes tribunal in the Hague. Closer ties with
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The London Stock Exchange suffered its worst systems failure in eight years on Monday, forcing the world's third largest share market to suspend trading for about seven hours and infuriating its users. The problem occurred on what could have been one of London's busiest trading days of the year, as markets rebounded worldwide following the
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The Cyprus Theatre Organisation (THOK) will get its own theatre, a move which has been described as a unique architectural work and a jewel for Nicosia and Cyprus. The contracts for the construction of the theatre were signed by the Chairman of the Organisation’s Board of Directors Demetris Karayiannis and Director Varnavas Kyriazis and company
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