Finansbank >, the Turkish lender owned by National Bank of Greece (NBG), may issue a 1 bln lira bond ($670 mln) after its planned public offering, Finansbank's chairman told Reuters. Seeking to boost its balance sheet in the wake of the Greek debt crisis earlier this year, NBG, Greece's largest lender plans to sell off
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The euro rose and borrowing costs for crisis-hit euro zone countries fell on Wednesday amid speculation the ECB could take decisive steps to combat turmoil that has stoked contagion worries in the United States and Asia. An 85 bln euro ($110.7 bln) EU/IMF rescue of Ireland last weekend and public assurances from European leaders that
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Retail group Cyprus Trading Corporation said nine-month net profit rose a sixth to 8.6 mln euros ($11.2 mln), helped by lower distribution costs. CTC, which imports goods ranging from face creams to fork lifts, said turnover fell 2%. The group said it expected full-year profitability to be satisfactory despite a subdued outlook in the retail
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Gold rose above $1,390 an ounce in Europe on Wednesday, and hit record highs in euro and sterling terms, as concerns over the spread of the euro zone debt crisis prompted buying of the precious metal as a haven from risk. While the euro's recovery from 11-week lows versus the dollar would usually also lend
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The United States voiced doubts over the health of Saudi Arabia's elderly Crown Prince Sultan in a diplomatic cable in May 2009, writing that he was "incapacitated", according to website WikiLeaks. Top oil exporter Saudi Arabia has sought to quash speculation on the health of Sultan, who is thought to be in his mid-eighties and
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The U.S. State Department has cut off a U.S. military computer network from its database of diplomatic cables after WikiLeaks obtained more than 250,000 such cables, a senior U.S. official said on Tuesday. The official, who spoke on condition of anonymity, said the system was the U.S. military's Secret Internet Protocol Router Network, known as
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. Struggling European economies competing to host the 2018 might battle to pay for the investment needed in new stadiums and infrastructure and should not bank on too much of a boost to state coffers, analysts say. FIFA will choose the host nations for the 2018 and 2022 World Cups in Zurich on Thursday. The
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6,000 units in “fenced area†held by Turkey 6,000 units in “fenced area” held by Turkey The Cyprus branch of the Royal Institution of Chartered Surveyors (RICS) wants to track down refugees and owners of 6,000 properties in Famagusta to help conduct a thorough survey of the ghost town’s “fenced off area”, the results of
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. While investors and financial advisers now seem matter-of-fact about the volatility seen during the financial crisis, it has had a long-term impact on how they view the risk level of different asset classes and how they think about and manage risk, the Economist Intelligence Unit said in a new survey. The report, Assessing and
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. Were the accountants and auditors naïve when they announced last June they would oppose all government plans to raise the Corporation Tax by 1 percentage point? Should we all have swallowed our pride in order to let the Finance Minister introduce the temporary measure for two years, simply to save the economy? Members of
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