Oil rose above $49 a barrel on Thursday, after falling 2.6 percent the previous day, as further supply cuts by OPEC and gains in Asian stock markets superseded worries about the global economy. OPEC oil supply fell in March for a seventh consecutive month, but remained above its target as some members of the group
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Bank of Cyprus announces, in accordance with the provisions of Cyprus Law L.190(I)/2007 that Theodoros Aristodemou has in his letter dated 2/4/2009 informed the issuer and the Cyprus Securities and Exchange Commission that during the Extraordinary General Meeting on 2 April 2009, he is entitled to exercise at his discretion 92.926.212 voting rights, which correspond
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The CSE Council announced its decision to transfer the titles of D&M Telemarketing Public Ltd (TLM) from the Alternative Market to the Special Characteristics Market due to the failure of the company to meet the minimum market capitalisation value criteria which is EUR 1 mln for the Alternative market. The trading of titles in the
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SFS Group Public Company Ltd (SFS.CY) announced that it has reduced its stake in SFS Venture One Ltd from 75% to 40%. The Company transferred 140,003 or 35% of Venture One shares of nominal value EUR1.71 each to Torlone Holdings Ltd, for the total sum of EUR1.00. After the transfer of its stake to the
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Malicious software that has infected millions of computers across the globe failed to wreak havoc on Wednesday as some feared, but researchers warned the powerful Conficker worm could still strike. Also known as Downadup or Kido, Conficker turns infected PCs into slaves that respond to commands sent from a remote server that effectively controls an
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World leaders are set to declare an end to unfettered capitalism at a G20 summit on Thursday after France and Germany demanded they act fast on promises to prevent a repeat of the worst economic crisis since the 1930s. A communique drafted for release at a G20 summit in London, obtained by Reuters, signaled that
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Tier 1 capital to improve Bank of Cyprus shareholders are expected to consider the many advantages offered by the convertible capital securities when they meet on April 2 to approve the issue, according to Yiannis Kypri, Group Chief General Manager. In an exclusive interview with the Financial Mirror ahead of the EGM, Kypri said the
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The yen and dollar fell on Thursday, losing ground to higher-yielding currencies as stock markets rose on hopes a deep recession is moderating. Asian stocks surged on Thursday, with Tokyo's Nikkei average rallying more than 4 percent, after U.S. factory and home sales data released the previous day spurred optimism about the economy, even though
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British house prices rose for the first time since October 2007 in March, the Nationwide Building Society said on Thursday, but the lender cautioned against jumping to conclusions about a housing market rebound. Nationwide said house prices rose 0.9 percent on the month in March after a 1.9 percent drop in February, taking the average
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Japan's Nikkei stock average climbed 4.4 percent on Thursday to its highest close in three months as carmakers powered higher on hopes for the U.S. economy after a string of data came in better than expected. Banks such as Mizuho Financial Group gained on short-covering after recent sharp falls, while signs that foreign investors were
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