By Lesley Wroughton Developing countries could face a financing gap of $270 billion to $700 billion this year as trade income dwindles and rich nations vie for capital to deal with a global slump, the World Bank said on Sunday. The World Bank said even at the lower end of that estimate, resources of international
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By Philip Blenkinsop It wouldn't be fitting to mount a barrage of "sale" and "special offer" signs in the windows of jewellers crowded into Antwerp's diamond square mile. But traders, cutters and retailers say business is terrible. Just a handful of diamonds can be worth a fortune, so the diamond industry — centred since the
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European Union finance ministers are set to back a call from the International Monetary Fund to double its funds to $500 billion to fight the global financial crisis, a document showed on Monday. The move, outlined in a paper seen by Reuters, spells out the EU's position ahead of a G20 finance ministers meeting and
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Japan's current account balance swung to its largest deficit on record in January, with the income surplus tumbling about a third from a year earlier, adding to pressure on an already falling yen. The first deficit in 13 years came as the global financial crisis dried up demand for Japanese exports, which combined with a
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Asian stocks dipped on Monday on worries about the fate of U.S. automakers and banks, while the dollar retreated as market players booked profits on the rise to a three-year peak last week. Markets sent mixed signals at the start of the week, with the safe-haven dollar and government bonds losing ground even as financial
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. After 12 months of careful evaluation, this week we announce the first Cyprus Gourmet Awards. Full information will be in the next Cyprus Gourmet Magazine which will be available at the end of this week . There are four categories of Awards, which are listed below. Restaurant Awards are not made on an annual basis
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. Tsantali is one of the two largest wine producers in Greece — the other is Boutari. Both are family-founded and run, and both hail from Macedonia. Both make substantial ranges of ‘popular’ wines and low-volume lines, but their styles are different. Tsantali, who used to be known primarily for their large-volume “Makedonias”, have broadened
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When Panayiotis Papaphilippou started his small confectionery business forty years ago, little did he know that it would be transformed into the ice cream giant we know today and a symbol of determination for local industry, accounting for one in every three ice creams sold in Cyprus. Papafilipou Ice Cream, as it is commonly known,
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The combined profits of the listed companies on the Cyprus Stock Exchange fell by a massive EUR 966 mln, or 59% year-on-year to EUR 667.7 mln in 2008, compared to EUR 1.6 bln in 2007, in one of the worst performances ever witnessed in Cyprus. This may well explain why share prices fell by 80%
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Cyprus non-governmental organisations (NGOs) have until March 9 to submit their interest to participate in the EEA-Norway funded assistance programme amounting to EUR 1.5 mln. Pantelis Dimitriou, Managing Director of First Elements Euroconsultants, the consultancy firm that won the mandate from the Cyprus Planning Bureau after a public international tender process to manage the programme
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