A leader of Germany's Free Democrats wants the ECB president to attend a court hearing on the bank's role in the euro zone crisis, a newspaper said on Friday, but the ECB defended its plan to send someone else. Financial daily Handelsblatt said Rainer Bruederle, a former economy minister who heads the Free Democrats' campaign
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The Vatican bank is checking the account of every client including Holy See employees, its new chief said, in a campaign to root out any money-laundering at an institution prone to scandals for decades. Ernst von Freyberg's predecessor was dismissed for poor management, and the Vatican's financial watchdog said last week it was investigating six
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MOKAS’s head ‘very important and decisive’ response as regards the Liberty Reserve case was ‘well founded’, Government Spokesman Christos Stylianides has said. Stylianides, who was replying to a question on the matter as to whether the government was aware of the case, referred to the statements made by the Head of Cyprus’s anti-money-laundering unit (MOKAS),
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Cyprus unemployment climbed to 15.6% in April, compared to 11.2% in March, Eurostat data published on Friday show. In absolute numbers that translates to 71,000 people. According to Eurostat data, average unemployment in the euro zone in April rose marginally at 12.2%, from 12.1% in March. EU unemployment remained unchanged at 11.0%. More analytical data
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British travel firm TUI Travel agreed to buy 60 mid-range Boeing jets with an option for 90 more, moving to make its fleet more fuel-efficient and delivering the U.S. planemaker a big contract win over European rival Airbus. The world's largest tour operator, which owns six European airlines including Britain's Thomson Airways, said on Friday
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Cyprus is poised for deeper austerity in 2014, in a bid to cope with the contraction of the economy expected to be sharper than the 8.7% of GDP projected in a €10 billion bailout that imposed an unprecedented haircut on uninsured bank deposits. In an interview with CNA, Cyprus Minister of Finance Haris Georgiades said
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OPEC oil exporters, basking in the market's equilibrium, were on course to leave output policy unchanged on Friday as oil held around the group's preferred level of $100 a barrel. Oil ministers have said they expect the Organization of the Petroleum Exporting Countries to leave its 30 million barrels per day (bpd) output target unchanged
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The U.S. dollar climbed off a three-week low and share markets were volatile on Friday, as unexpectedly weak U.S. economic data dampened expectations of a early scale back of Federal Reserve stimulus. The dollar was just off a three-week low against a basket of six key currencies although a surprise fall in German retail sales
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German Professor/researcher, Heinz Richter, said on Thursday that it time to put an end to some wrong perceptions that exist in Germany regarding the banking sector in Cyprus and the way the economic situation is being managed. According to an official statement, Richter met with the President of the House Finance Committee Nicholas Papadopoulos who
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A dinner, hosted by the UN on Thursday for President of the Republic Nicos Anastasiades and Turkish Cypriot leader Dervis Eroglu, went well, the President has said. He also said that right now the Cyprus issue is in a preparatory stage. Asked if anything interesting had come out of the dinner, he said that things
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