Left-wing ruling party AKEL has approved by majority vote a Party Political Bureau proposal to back Health Minister Stavros Malas in next February’s presidential elections. Following a seven hour session of the party Central Committee here on Wednesday, 70% of Committee members voted in favor, 25% against and 5% abstain. Voting was by secret ballot.
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All forecasts are dated 14 June 2012 Economic conditions will continue to be very challenging in 2012, according to all of the panellists on the quarterly Financial Mirror Consensus Forecast, while there are mixed views about whether we can recover by 2013. The panel, launched not long after the Mari explosion when there was widespread
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A conservative-led government took power in Greece on Wednesday promising to negotiate softer terms on its harsh international bailout, help the people regain their dignity and steer the country through its biggest crisis for four decades. The swearing-in of Antonis Samaras as prime minister after elections last Sunday ended weeks of uncertainty that rattled financial
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The main obstacles to creating global green economy are the lack of political will, the fear of alienating voters with rising costs and the absence of a global price on carbon, economists and scientists said at a U.N. environment summit on Wednesday. Heads of state and deputy leaders from around 120 countries are meeting in
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Asian stocks slipped and commodities fell broadly on Thursday after the Federal Reserve disappointed some investors with only a limited expansion of monetary stimulus and a survey showed China's vast factory sector slowed for an eighth month running. The U.S. central bank, as expected, extended its programme of selling short-term securities and buying longer-dated ones,
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Egypt's military rulers have secured record supplies of fuel worth at least $1.2 billion for the summer months, paying trading houses such as Vitol and Glencore above market prices to satisfy demand as political instability deepens. Fuel shortages provoked public anger earlier this year. But trying to avoid a repeat is proving costly as uncertainty
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The U.S. Federal Reserve on Wednesday delivered another round of monetary stimulus and said it was ready to do even more to help an increasingly fragile U.S. economic recovery. The central bank expanded its "Operation Twist" by $267 billion, meaning it will sell that amount of short-term securities to buy longer-term ones to keep long-term
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Staking its claim to Egypt's presidency, the Muslim Brotherhood rallied in Cairo on Tuesday to demand the ruling generals hand over real power, following moves by the army that its U.S. ally labeled an assault on democracy. Up to 10,000 gathered as darkness fell on Tahrir Square, cradle of last year's Arab Spring revolution, chanting
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The European Union's reputation may be taking a battering from the debt crisis, but Brussels can at least be grateful for a vote of confidence from its newest and poorest member, Bulgaria. Sofia's city council voted to rename one of the stops on a new metro line through the capital "European Union" in a
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Greek conservative leader Antonis Samaras will be sworn in as prime minister later on Wednesday, an official in the Greek president's office said. Samaras, whose New Democracy party won Sunday's election, is forming a government with the backing of the Socialist PASOK and the smaller Democratic Left parties. Samaras is due to meet President Karolos
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