Cyprus is on course to achieve a speedy economic recovery within the framework of the 10 bln euro bailout agreement concluded last April with international lenders, and that the aim is to have a balanced budget by 2016 and even a primary budget surplus, according to President Nicos Anastasiades. Addressing the 52nd general assembly of
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The Cyprus government has approved an initial deal with U.S. and Israeli companies to build and operate a natural gas liquefaction by the end of this decade. The Cabinet approved a memorandum of understanding (MoU) with Noble Energy International Ltd, Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership to build the LNG plant
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Cyprus government spokesman Christos Stylianides has written to the Financial Times, in response to Peter Spiegel’s article issued on Tuesday, regarding President Anastasiades’ letter to European leaders last week asking for softer treatment on the bailout terms. The letter is “in no way aimed at a reversal of the memorandum of understanding, as the article
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Bonds, shares and commodities fell sharply around the world on Thursday and the dollar rose after the U.S. Federal Reserve explicitly signalled an end to easy money and data showed China's economy slowing down. The sell-off began after Fed chairman Ben Bernanke confirmed that U.S. economic growth was strong enough to begin tapering back on
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Lloyds Banking Group must plug a capital shortfall of 8.6 bln pounds ($13.5 bln), Britain's banking regulator said on Thursday, a day after the government signalled plans to return the part-state owned lender to the private sector. Britain is trying to restore confidence in a banking sector that had to be shored up by taxpayers
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Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second-largest economy hit a nine-month low. Shares, currencies and commodities all crumbled as spooked investors rushed to unwind crowded trades in emerging markets. Central
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GlaxoSmithKline is investing 17.5 mln euros ($23.5 mln) in a new venture fund to invest in drugs for rare diseases, underscoring the growing role of big drugmakers in backing start-up companies. GSK and many of its rivals are becoming more active in funding early-stage companies, reflecting both a desire to tap into smart ideas from
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. Marcuard's Market update by GaveKal Research The Federal Reserve made no policy changes on Wednesday—short rates remain near zero and quantitative easing continues at a fast clip of $85bn per month. The Fed did however adjust its economic projections, for the better—unemployment is expected to fall faster than previously thought, and inflation lower. Chairman
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. By Jacqueline Anastassiades Cyprus is at the start of a very difficult era for its economy, with a multitude of negative consequences on a number of aspects of everyday life. The state, but also the private sector, is trying to put the economy back on a course of growth with various schemes and with
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Ifo/Bertelsmann Foundation study: Losers would be traditional trading partners and developing countries. The US and all EU member countries would significantly benefit from a comprehensive transatlantic trade and investment partnership (TTIP). If it is possible to largely eliminate not only tariffs but also non-tariff trade barriers, real GDP per capita would significantly increase, and new
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