The island of Cyprus is not for sale, President of Cyprus Demetris Christofias, underlined Tuesday, replying to a question after today’s meeting with the political parties on the economy. “Cyprus island is not for sale. And the Cypriot people have dignity and don’t challenge me with such provocative questions” was the President’s answer to a
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Holders Spain will be given their sternest Euro 2012 test yet against Iberian rivals Portugal and their in-form forward Cristiano Ronaldo in the first semi-final later on Wednesday. All eyes will be on Spain coach Vincente del Bosque to see if he continues his policy of not starting with a striker. The scampering Ronaldo is
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A U.S. judge on Tuesday granted Apple Inc's bid t o stop Samsung Electronics from selling its Galaxy Tab 10.1 tablet in the United States, giving the iPhone maker a significant win in the global smartphone and tablet patent wars. Samsung's Galaxy tablets, powered by Google's Android operating system, are considered by many industry experts
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Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations. The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank
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Finnish Prime Minister Jyrki Katainen sounded almost apologetic a year ago when he demanded collateral in exchange for bailout funds for Greece. It was the first time the Finns, who have prospered as EU members since 1995, shedding the shadow of historically dominant neighbours Russia and Sweden, had joined Europe's awkward squad. Attaching strings to
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Egypt's new president has a window of opportunity to pull the economy from the brink of disaster, but he will have to chart a careful path to convince a host of deeply sceptical players at home and abroad that his is a government they can trust. After winning the country's first freely contested election for
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* New Greek finance minister resigns * A fifth euro zone country turned to Brussels for emergency funding on Monday when Cyprus announced it was seeking a lifeline for its banks and its budget, hours after Spain submitted a formal request to bail out its banks. Global share prices and the euro slid as investors
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Fitch Ratings has downgraded the Republic of Cyprus's Long-term foreign and local currency Issuer Default Rating (IDRs) to 'BB+' from 'BBB-'. The Short-term IDR has also been downgraded to 'B' from 'F3'. The Outlook on the Long-term IDRs is Negative. Fitch has simultaneously affirmed the eurozone Country Ceiling for Cyprus at 'AAA'. The downgrade reflects
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International experts in the gas industry will give their advice on a range of gas issues on Tuesday at the Levant Forum conference organised at the University of Nicosia by communications firm Gulf Intelligence. Opening speeches will be given by the president, Demetris Christofias; the Minister of Commerce, Neoclis Sylikiotis; and the Minister of Energy
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China's annual growth target for 2012 looks increasingly in jeopardy as demand at home falters and Europe's debt crisis worsens, complicating matters for Beijing as the country heads into a once-in-a-decade leadership transition. The slowdown in the world's second-largest economy could be more entrenched than expected as Beijing's property tightening measures dilute the impact of
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