President Barack Obama said in an interview published on Sunday that leaders of the G20 major global economies would send a "strong message of unity" this week on confronting the world economic crisis. "With respect to the stimulus, there is going to be an accord that G20 countries will do what is necessary to promote
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Low cost Romanian airline Blue Air inaugurates Sunday its new routes to and from Pafos International Airport. According to a press release issued by Hermes Airports Blue Air’s new service offers the traveling community the opportunity for new scheduled flights to Bucharest, via a single stop in Thessaloniki, every Thursday and Sunday. Route Manager of
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The American Hellenic Institute (AHI), in a letter to US President Barack Obama, raises a number of issues in view of his forthcoming visit to Turkey, noting that ''the projection of US interests in the region depends heavily on the stability of the region and therefore the US has an important stake in fostering good
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Cypriot Minister of Finance Charilaos Stavrakis said on Saturday that President of the Republic Demetris Christofias, the government and the ministers were doing much to limit the consequences of the global financial crisis, noting that figures spoke for themselves. Addressing a trade union meeting, Stavrakis said that ''in the last quarter of 2008 we had
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The Swiss Banking Association is not recommending its members refrain from foreign travel abroad because of fear they may be detailed as part of a global crackdown on bank secrecy, its chairman said on Thursday. Individual banks, however, were obviously free to choose their own approach, Pierre Mirabaud said in response to a Financial Times
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Britain's financial regulator has concluded a stress test on Barclays Plc and is satisfied the bank does not need any fresh capital, a person familiar with the matter said on Friday. Barclays shares soared over 10 percent as fears receded that it will need fresh funds or need to hand the government a stake. The
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By country Following are details of the main emergency loan programmes initiated by the International Monetary Fund (IMF) as the global economic crisis has deepened. Latest moves saw the IMF agree rescue deals this week with Serbia and European Union member Romania, worth respectively 3 billion euros and 20 billion euros. A summit of the
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Global shares dipped on Friday, pausing for breath at the end of a week that saw them gain 6 percent on hopes of economic recovery while the euro extended losses after Germany warned that fiscal irresponsibility in Europe threatened the common currency. Oil fell below $54 a barrel on profit-taking after touching a 2009 high
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A homemade bomb exploded in the Greek port of Piraeus on Friday, damaging buildings and cars but causing no injuries, police said. The attack was directed at ship repair company DT Marine and was not politically motivated, police said. "The company had received threats. We rule out any political motive," a police official said on
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The Board of Directors of Marfin Popular Bank Ltd (CPB) decided to proceed with a generous distribution of profits despite the uncertain global environment. Following the approval of the final audited financial results for the year ended 2008, the Board is recommending to the AGM of the shareholders a dividend payment of EUR 0.15 from
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