The national central banks in the euro zone are set to exchange their holdings of Greek bonds into new bonds in the run up to a private sector debt deal to avoid taking any forced losses, euro zone sources said on Thursday. The swap would take place over the weekend, two of the sources said.
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The European Union's tax chief on Thursday rejected UK opposition to a planned levy on financial transactions, saying it would dampen risky trading and barely dent growth. EU Tax Commissioner Algirdas Semeta drew scorn from Britsh lawmakers when he said a bloc-wide financial transaction tax would cut economic growth by a "negligible" 0.01 percent annually
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Greece said on Thursday it had found extra budget savings demanded by its international lenders, suggesting a new rescue package is within reach even though acrimony simmered between Athens and its European partners. Greece is scrambling to clinch the 130 billion euro ($170 billion) bailout at a meeting of euro zone finance ministers on Monday
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Iran bought almost half a million tonnes of wheat this week, traders said on Thursday, with private buyers also in talks to import further tonnage from Russia using roubles as payment, as the Islamic republic works around Western sanctions. Tehran has dramatically widened its footprint on international grain markets, having bought a total 1.1 million
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The number of Americans filing for new jobless benefits fell to a near four-year low last week and factory activity in the Mid-Atlantic area grew in February, more evidence of sustained momentum in the economy. The economic outlook was brightened further by other data on Thursday showing builders breaking more ground on new residential projects
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Israeli Prime Minister Benjamin Netanyahu is in Cyprus on Thursday to discuss energy cooperation, a subject that has already irritated Israel's former ally Turkey, which challenges Cyprus's jurisdiction over offshore gas finds. Gas production in the eastern Mediterranean is set to soar following the discovery of huge offshore reserves between Cyprus, Israel and Lebanon that
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* Provokes with naval exercise in Noble's Block 12 * Cyprus has accused Turkey of using "bullying behaviour" in some of its harshest criticism yet of its old foe, locked in a decades-old standoff over the division of the island and recent natural gas finds. Gas production is set to climb in the eastern Mediterranean
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Cyprus' GDP growth rate in real terms during the fourth quarter of 2011 is negative and estimated at -0,5% over the corresponding quarter of 2010. According to the Flash Estimate compiled by the Statistical Service of the government of Cyprus, based on seasonally and working day adjusted data, GDP growth rate in real terms is
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Revenue from tourism recorded an annual increase of 12.9% in 2011, according to the Republic’ Statistical Service. On the basis of the results of the Passenger Survey, revenue from tourism reached 41.6 million euro in December 2011 compared to 40.9 million euro in the corresponding month of the previous year, recording an increase of 1.9%.
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The euro dipped and a share market rally ran out steam on Wednesday on signs euro zone officials might delay Greece's next rescue package, while still avoiding a disorderly default. The single currency eased 0.3 percent, falling back below $1.31 after EU sources said euro zone finance ministers were not satisfied all Greece's political parties
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