Debt rating agencies had the knives out for some of Europe's weakened banks on Friday, highlighting the pressure for decisive government action in support for the industry. Moody's Investors Service downgraded its ratings on nine Portuguese banks, citing the increased asset risk linked to their holdings of Portuguese government debt and the sovereign downgrade of
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The Republic of Cyprus, in a letter to UN Secretary-General Ban Ki-moon, informs him on the Turkish threats against Cyprus and alerts him of a situation that may require the latter to use his good offices to prevent a further escalation of tensions, which has the potential to endanger international peace and security. The position
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Declaring women's rights vital for world peace, the Nobel Committee awarded its annual Peace Prize on Friday to three indomitable campaigners against war and oppression — a Yemeni and two Liberians, including that country's president. Ellen Johnson-Sirleaf, Africa's first freely elected female head of state, shared the $1.5 million with compatriot Leymah Gbowee, who led
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The health sector contributed 3.8% to the economy in 2009 while the education sector contributed 6.2% according to two annual reports on the health and education sectors for the year 2009 published by the Statistical Service. Together, therefore, they contributed 10% of gross value added. According to the report value added at current market prices
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Watch out Oprah, there's a savvy pop star and an ambitious real housewife nipping at your financial heels. Oprah Winfrey remained the entertainment world's top woman earner, but Lady Gaga and Bethenny Frankel, one of the original housewives in the "Real Housewives of New York," are moving quickly up the ranks of the rich, according
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Ways to further promote cooperation between Cyprus and Israel in the field of health, were examined during a meeting Thursday between Health Minister Dr. Stavros Malas and Israel’s Ambassador to Cyprus Micahel Harari. In statements after the meeting, Dr. Malas said that the relations of the two countries in all fields are excellent, noting that
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Cyprus September inflation rate decreased to 2.4% compared with 2.9% in August and 3.5% in September 2010, figures released today by Cyprus' Statistical Service show. The Consumer Price Index (CPI) for September 2011 increased by 0.91 units or 0.78% to 116.86 units compared with 115.95 in August 2011. According to CyStat, this is mainly attributed
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The beauty of Apple products secured Steve Jobs a place in history long before his death, but design professionals said the depth of his influence on their profession goes much deeper than the minimalist look of an iPhone. The Mac and the iPod, the iPhone and the iPad, born out of his vision of marrying
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ECB funding to Greek banks fell by 3.2 bln euros in August from the previous month while the Greek central bank provided 6.42 bln of emergency liquidity assistance (ELA) to lenders during the month, Bank of Greece data showed on Thursday. It did not provide details on which banks made use of the facility. ECB
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An awareness campaign is underway this week to try to reduce road accidents predominantly due to mobile phone use while driving, as more than 30% of accidents is due to driver distractions. The campaign is being organised by the Reaction organisation, Youth for Road Safety and Click youth magazine in cooperation with the Road Safety
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