Gold held steady above $900 on Friday following a slump the previous day when its safe-haven status was hit by a stock rally as the G20 agreed on steps to restore global economic growth and rebuild the financial system. But gold could face another bout of selling later in the day if stock markets take
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The yen and the dollar fell to multi-month lows on Friday after G20 leaders boosted investor risk appetite, but later trimmed their losses as some caution returned ahead of U.S. employment figures due later in the day. G20 leaders clinched a $1.1 trillion deal on Thursday to counter the worldwide economic crisis and the United
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World leaders should promptly conclude the Doha round of trade talks as part of their fight against the economic crisis, the head of the World Trade Organisation (WTO) said on Friday. In an interview with Reuters, Pascal Lamy welcomed the declaration of Thursday's G20 summit that global trade should be kept open and supported with
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Commodity markets ticked down on Friday, pausing for breath after a rally inspired by a trillion-dollar deal by G20 world leaders to halt the worst recession in decades faltered, with attention turning again to economic data. Oil and LME copper fell more than 1 pecent from the previous day, while gold barely budged. On Thursday
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G20 leaders convinced investors they were united enough to keep a risk-taking rally alive on Friday, lifting Asian stocks a fourth day, but the U.S. dollar fought back from early losses ahead of the latest U.S. payrolls number due later in the day. The perception of global policy coordination added to a growing investor optimism
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Cyprus property sale contracts recorded a sharp 52.3% decline in March according to data issued by the Land Registry Department. In January and February, Cyprus property sales had suffered declines of 72% and 65% YoY reductions respectively. During March, a decline in the number of property sale contracts by foreigners from 160 in February to
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Cyprus' total investments in Romania exceed 1.7 bln EUR and it ranks fifth among foreign investors in Romania. Addressing a seminar hosted by the Romania-Cyprus bilateral chamber of commerce and industry, held at the chamber's offices in Bucharest, President of the House of Representatives Marios Garoyian, who is on an official visit to Romania, said
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The EGM of Bank of Cyprus Public Company Ltd (BOCY) held on April 2, 2009 approved the issue of Tier I convertible capital securities of up to EUR645,327,822. The EGM was attended by 3,398 shareholders, either in person or by proxy, who represented 195,653,912 shares, that is 33.35% of the Company’s total share capital.
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Logicom Public Ltd (LOG) announced the approval of its final audited FY08 financial results. The Board decided to propose a final dividend of EUR0.04 per share, which corresponds to a 48.7% payout from 2008 earnings. The shares go ex-div on 16 June 2009 and will be paid to the shareholders by July 2, 2009. The
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Cyprus Central Bank Governor and European Bank Member Athanasios Orphanides said that the forecast the CB issued last December for a 2% growth rate in 2009 is ''too optimistic.'' ''The consequences of the global financial crisis are so far at least relevantly more benign and our banking sector does not face particular problems. The extent
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