Japanese equities led a tumble in Asian shares as the dollar slipped to fresh lows against the yen on Thursday, as investors worry what might happen if the U.S. Federal Reserve's winds back its massive stimulus programme. "The rising yen is just a minor reason that triggered further selling. The fundamental concern that's been in
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A man will appear in a London court on Thursday charged with the murder of a British soldier on a London street in broad daylight last week, police said. Police charged 22-year-old Michael Adebowale late on Wednesday evening with the murder of Drummer Lee Rigby, a 25-year-old serving soldier. Adebowale was charged shortly after leaving
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The dinner to be held here on Thursday between the President of the Republic Nicos Anastasiades and Turkish Cypriot leader Dervis Eroglu will be a social event, Deputy Government Spokesman Victoras Papadopoulos reiterated on Wednesday. In statementas after a meeting of the Cabinet, and asked about tomorrow’s dinner, that will be hosted by the UN,
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The first priority for the Bank of Cyprus (BoC) is the strengthening of its administrative organization and hierarchical structure, interim CEO Christos Sorotos said here today. Sorotos officially assumed Wednesday his new duties and met with the Governor of the Central Bank of Cyprus (CBC). In statements after the meeting, at the Central Bank, Sorotos
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The Cyprus government extended on Wednesday by three months the mandate of the Investigation Committee set up to look into the near collapse of the banking sector and the economy of the country. "The Council of Ministers decided to extend the mandate of the Investigation Committee", Deputy Government Spokesman Victoras Papadopoulos said in statements to
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Cyprus and Spain signed on Wednesday an agreement with a view to facilitate the Spanish government`s actions aiming at the management of crises in the Middle East, enhancing in this way the cooperation of the two countries in security issues. According to an official press release, the agreement constitutes a tangible proof of Cyprus’ role
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The Cabinet appointed on Wednesday the Chairman and members of the new Cyprus Airways Board, with immediate effect. According to an official press release, businessman Antonis (Tony) Antoniou has been appointed Chairman. The new members are Marinos Kallis, Andreas Papadopoulos, Constantinos Papanastasiou, Andreas Petrou, Panicos Himonas, Marios Hadjigavriel, Panicos Courides, Marios Efthymiou and Demetris Yiannakis.
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EU Commissioner for Economic and Monetary Affairs Olli Rehn has said that the oversized banking sector of Cyprus that thrived on attracting foreign deposits with very favourable conditions is at the heart of the problems of the country which build up over many years. “These capital flows also contributed to a property boom and the
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Cyprus transition to a more diversified growth model will be challenging for the economy in the coming years, the European Commission has said. In a conclusion of staff working document titled "Assessment of the 2013 national reform programme for Cyprus" released Wednesday in Brussels, the Commission said that Cyprus has already made important progress in
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Cyprus business and household bank deposits fell 7.3% to 41.32 bln euros in April, following a fall of 4% in March from the previous month, while deposits in Greece dropped at a lower pace over the Cypriot banking crisis affecting Greek depositors as well. Government officials have been trying to spur growth and revive confidence
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