Optimism in the euro zone's economy improved sharply in August but stubbornly high unemployment, in particular in the bloc's weaker countries, highlighted the fissure separating the recovering north from the struggling south. The confidence of business managers polled by the European Commission rose for its fourth successive month in the euro zone, the EU executive
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Online gambling company bwin.party warned that full-year revenue would fall by up to 17% as it shrinks the business to focus on fewer markets where it can make higher returns. The company, formed by the 2011 merger of PartyGaming and Bwin Interactive Entertainment, is focusing on regulated markets and is also preparing to expand in
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The Cyprus House of Representatives voted on Thursday night a law providing for the resolution authority on banks to expand to include the Ministry of Finance, the Central Bank of Cyprus, as well as the Securities and Exchange Commission, CySEC, thus ending the absolute power of Central Bank on bank resolution. Under its new composition, the authority will
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Cyprus is preparing to receive foreign nationals as a country of stability and security, Foreign Affairs Minister Ioannis Kasoulides said on Thursday after a ministerial meeting looking into how Cyprus will handle a possible exodus of throusands of people from Syria and Lebanon. Kasoulides said that on Wednesday he had meetings with the US Ambassador,
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. By Andrey Smirnov Managing Director, Interros International Investments I'm glad to announce that our company is once again going to sponsor the coming Cyprus-Russia Gala party on September 14, 2103. We've been doing it for the fifth time already out of 7 Galas of such format held in the gardens of the Presidential Palace.
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, Marcuard's Market update by GaveKal Research Ever since the Asian crisis of 1997, emerging market countries have built up foreign currency reserves as ammunition against speculative currency attacks. Now we can only hope they do not try to use them. Drawing lines in the sand on currency levels, or trying to protect an exchange
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Hellenic Bank reported interim post-tax losses of 46.1 mln euros for the first half of the year, a negative turnaround from the 14.9 mln in profits in the same period last year, due mainly to the severe impact of austerity measures and bail-ins imposed on the Cyprus banking system as part of wider rescue package.
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* Retail, cars hurt most by capital controls and consumer cutbacks * Cyprus Trading Corporation Plc, the main holding company of the retail giant NK Shacolas Group, seems to have overcome the troubles faced by the local economy and reported more than 9 mln euros in profit for the first half of the year,
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Britain is sending six RAF Typhoon jets to Cyprus as a defensive measure amid growing tensions over Syria and talks of Western military intervention. A spokesman for the Ministry of Defence said the air-to-air interceptor jets would be deployed to the British Akrotiri base in Cyprus on Thursday. "This is purely a prudent and precautionary
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Police seized a painting of Russia's president and prime minister in women's underwear from a gallery in St Petersburg, saying the satirical display had broken unspecified laws. The officers also removed a picture of the head of the Russian Orthodox Church, his torso covered in tattoos, and two others poking fun at lawmakers who have
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