Representatives from five law and audit firms representing major uninsured depositors have met with Central Bank Governor Panicos Demetriades to discuss their client’s say and share on the new Bank of Cyprus board that will come out of the shareholders’ AGM on or about September 12. The law firms of Christodoulos Vasiliades, Andreas Neocleous, Skordis
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The railway whose runaway train killed 47 people in Lac-Megantic, Quebec, last month filed for bankruptcy protection in Canada and the United States on Wednesday as it faces mounting pressure from authorities to pay for the disaster cleanup. Montreal, Maine & Atlantic Ltd (MMA) filed for bankruptcy in both countries to preserve the value of
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Cyprus President Nicos Anastasiades has called on Israel to seriously consider committing to exporting Israeli gas from the Cyprus LNG terminal that will be ready at Vassiliko in 2018. Speaking at the inauguration of the Limassol Desalination Plant built by a Cyprus-Israel joint venture, Anastasiades said “my government is moving forward with determination with the
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German exports rose in June, suggesting Europe's largest economy is slowly recovering after recent weakness, but imports fell, raising doubts about the strength of domestic demand on which the government is relying to boost growth this year. Seasonally-adjusted exports climbed by 0.6% on the month, data from the Federal Statistics Office showed on Thursday, missing
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Asian stocks rebounded and investors snapped up the Australian dollar after trade data out of China far exceeded expectations on Thursday, helping cheer markets worried about slower growth in Asia's economic powerhouse. Copper scaled a seven-week peak after exports from China, a top metals consumer, rose 5.1% in July from a year ago and imports
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Germany's Angela Merkel plans to step down as chancellor in 2016, a year before the end of a third term, if she is re-elected in a September 22 election, according to an unsourced article in Stern magazine on Wednesday. In a column titled "Merkel's last three years", a senior editor of the magazine wrote that
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An earthquake measuring 5.1 on the Richetr scale rattled Athens on Wednesday, causing buildings to shake for several seconds. There were no immediate reports of casualties or damage, police and fire brigade officials said, and the streets of the capital were calm. The magnitude 5.1 quake struck northeast of Patras at a depth of 9.7
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Britain's top share index closed at a four-week low on Wednesday on concerns the Bank of England (BoE) and the U.S. Federal Reserve may start tightening monetary policy earlier than expected. A day after two Fed officials suggested the U.S. central bank may cut the pace of bond purchases as early as next month, the
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The British government has invited stockbrokers to apply to help sell shares in the Royal Mail postal service to members of the public as part of a planned stock market listing. The 497-year-old institution is to be floated by the end of March 2014, the country's biggest privatisation in decades, to help fund the modernisation
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U.S. stocks fell for a third day on Wednesday on growing concerns over the longevity of the Federal Reserve's stimulus policy, which has been widely credited with fueling the market's gains this year. Even after shares suffered their biggest decline since June 24 on Tuesday, the market was unable to shake off comments from a
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