Sales of previously owned U.S. homes tumbled to a record low in January, reversing the prior month's gains, according to a report on Tuesday that indicated the economy's downward spiral was gathering speed. The data came as Federal Reserve Chairman Ben Bernanke urged bold action to pull the economy out of a 14-month slump and
More
Three more bike races under the title “Afxentia” have taken place between February 27 – March 1, at Macheras mountains, in the framework of the international mountain biking games ''Cyprus Sunshine Cup 2009''. The Cyprus Sunshine Cup 2009 is organised by the Cyprus Tourism Organisation and the Cyprus Cycling Federation and is supported by the
More
Cyprus Minister of Commerce, Industry and Tourism, Antonis Paschalides signed an Agreement with the Iranian Minister of Finance for the Mutual Promotion and Protection of Investments between Cyprus and Iran. Paschalides, who was on an official visit to Teheran at the invitation of his Iranian counterpart had a series of meetings on Monday with the
More
British Prime Minister Gordon Brown will press President Barack Obama for details on his plans to fix the ailing U.S. financial sector in talks on Tuesday that will focus on the global economic crisis. The two leaders will also discuss ways to tighten lax financial regulations, a major topic for the summit of the Group
More
European shares briefly turned positive in choppy trade on Tuesday afternoon, as U.S. futures pointed to a strong start on Wall Street. At 1353 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 680.35 points, returning to the red after turning positive a few minutes earlier and trading up 0.1
More
Germany confirmed on Tuesday that Romania was in talks with the International Monetary Fund (IMF) to secure aid as it faces up to liquidity problems due to its reliance on external financing in the global credit crunch. Bucharest has yet to admit to having approached the global lender, although sources said on Monday that a
More
President Barack Obama said on Tuesday he saw little hope of near-term improvement in the U.S. economy after a staggering drop in gross domestic product in the final three months of last year. "The economy's performance in the last quarter of 2008 was the worst in over 25 years. And frankly the first quarter of
More
The European Union can help any struggling euro zone member, it said on Tuesday, as British UK Prime Minister Gordon Brown took Europe's views on taming the financial crisis to President Barack Obama in Washington. The turmoil world leaders face is worse than thought just over a month ago, the OECD group of developed countries
More
Minister of Labour and Social Insurance Soteroula Charalambous said on Tuesday that the government intends to continue monitoring the sustainability of social security systems and especially pension schemes, and if necessary is determined to take measures in order to face this challenge. Addressing the 15th Regional Social Insurance, Pension and Provident Fund Conference concerning ''Pensions
More
The Cyprus government will contribute the sum of one million dollars for the reconstruction of Gaza. The announcement was made on Sunday by the Minister of Foreign Affairs Markos Kyprianou at Larnaca airport, on his return from Egypt, where he represented the Republic of Cyprus at the International Conference to support the Palestinian economy for
More