Bank of Cyprus, Cyprus's largest lender reported a higher than expected first half profits on Monday beating analyst forecasts. BOC reported EUR 148 mln in net profit for first half of 2009 compared to EUR 243.64 mln a year ago in the same period for a decline of 39.4% YoY, but was better than EUR
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Oil fell more than 3 percent to around $70 a barrel on Monday as a drop in China's key stock dented optimism about the pace of economic recovery and the U.S. dollar strengthened. China's key stock index dived 6.74 percent on Monday to a three-month closing low and recorded its second-biggest monthly loss in 15
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European Union emissions of global warming gases fell for a fourth straight year in 2008, mostly caused by lower industrial activity due to economic recession, EU data showed on Monday. The main reasons for the reductions were lower carbon dioxide emissions from fossil fuel combustion in the energy, industrial and transport sectors, the European Environment
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By Isabel Reynolds and Yoko Nishikawa Japan's next prime minister began forming a government on Monday as investors worried the untested Democratic Party would overspend in a bid to revive the economy or would ruffle ties with Tokyo's closest ally, Washington. Sunday's historic election win by Yukio Hatoyama's party breaks a deadlock in parliament and
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A conservative Iranian MP said on Monday there was a "high possibility" parliament would approve President Mahmoud Ahmadinejad's proposed new oil minister, the Oil Ministry's website reported. In another sign of support for nominated new Oil Minister Massoud Mirkazemi, who has little known experience of the sector, the head of the state gas exporting firm
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Nigeria will file criminal charges including money laundering on Monday against the former heads of five banks rescued in a $2.6 billion bailout, the anti-corruption agency said. The central bank injected 400 billion naira ($2.6 billion) into Afribank <AFRB.LG>, Finbank <FIBP.LG>, Intercontinental Bank <INBK.LG>, Oceanic Bank <OCBK.LG> and Union Bank <UBNP.LG> just over two weeks
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Global stocks edged lower on Monday, dragged down by a 6.7 percent tumble in China which sent nervous investors into the yen, while an historic opposition victory in Japanese elections also gave the currency a boost. Shanghai's big drop had a psychological knock-on effect on international sentiment, even though Chinese share trading is largely cut
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By Marja Novak Greece has toughened its stance in the dispute over Macedonia's name, making it more likely to block its neighbour's European Union membership bid, Macedonia's Foreign Minister Antonio Milososki told Reuters on Monday. After years of bilateral talks and international mediation, Greece vetoed Macedonia's accession to NATO in 2008 because of its name,
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President Demetris Christofias has called on Turkey to allow the leader of the Turkish Cypriot community to negotiate a political settlement in Cyprus, with respect to UN resolutions and the high level agreements of the 1970s, which provide for a bizonal bicommunal federation. He said he expects Turkey to understand the need to change its
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Labour and Social Insurance Minister Sotiroula Charalambous believes that in the second round of UN-led peace talks, scheduled to begin Thursday, there are positive elements from the first phase of the negotiations as a result of the right procedures which President Demetris Christofias has followed. “We have to be realistic and impartial”, Charalambous said during
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