* Cyprus club collects first 800,000 euros * Two goals in three minutes by Gustavo Manduca and Ailton allowed APOEL Nicosia to snatch a 2-1 win over Zenit St Petersburg in its opening Champions League Group G match on Tuesday. Financially, this is good news for the Cyprus champion as it has collected its first 800,000 euros
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Moody's Investors Service cut the credit ratings of France's Credit Agricole SA and Societe Generale on Wednesday, citing their exposure to Greece's debt, a fresh blow to euro area leaders struggling to restore confidence in the region. The ratings agency left BNP Paribas on review for a ratings downgrade saying the bank's profitability and capital
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— THE FINANCIAL MIRROR CONSENSUS FORECASTS — * 2011: 0.4% growth / 2012: 1.3% growth * This week we launch the first of our Financial Mirror Consensus Forecasts, with five well known economists from the private sector and academia, giving their opinions on which way the economy is heading this year and next. The range
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* No other euro zone talks * Russia is in the process of negotiations on a loan for cash-strapped Cyprus, Interfax news agency quoted Finance Minister Alexei Kudrin as saying. However, he did not say what sum is to be lent, even though previous reports said the Cyprus government was in talks for a 2-2.5
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Hong Kong stocks slumped on Wednesday pushing the benchmark to its lowest level in more than two years as some outperformers were hit by profit-taking, with funds seeking to lock in gains as the outlook for the market turns increasingly bearish. The Hang Seng Index was down 1.34% at 18,775.39 by the midday trading break
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European stock index futures fell on Wednesday following an equity sell-off in Asia, where some regional indexes hit lows last plumbed in 2009, on persistent fears that Europe's sovereign debt problems are causing a banking crisis. The euro zone's troubles — underscored by a downgrade from Moody's for two big French banks — knocked the
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President of the Republic Demetris Christofias on Tuesday called on the international community to respond “to any possible unlawful act” by Turkey regarding Cyprus’ right to start oil and gas exploration in its Exclusive Economic Zone (EEZ). In a statement to the press following a ministerial meeting on the issue, President Christofias said that Cyprus
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Victims of sexual abuse by the clergy want the International Criminal Court to investigate Pope Benedict and three Vatican officials for allowing the rape and sexual abuse of children. The New York-based rights group Center for Constitutional Rights (CCR) and another group, Survivors Network of those Abused by Priests (SNAP), filed a complaint with the
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International alarm over Europe's debt crisis reached new heights on Tuesday, with U.S. President Barack Obama pressing the bloc's big countries to show leadership as talk of a Greek default escalated and markets heaped pressure on Italy. German Chancellor Angela Merkel sought to quash talk of an imminent Greek default or exit from the euro
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Greek Prime Minister George Papandreou will hold a conference call on Wednesday with French President Nicolas Sarkozy and German Chancellor Angela Merkel, a Greek government official said on Tuesday. The call comes amid renewed talk among euro zone policymakers about a Greek default, prompted by the country's failure to meet the fiscal goals set out
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