The U.S. government and Citigroup have reached a deal in which the government would substantially raise its stake in the bank, a person familiar with the matter said, offering hope of greater stability for the financial system. That offered a glimmer of optimism in a day otherwise dominated by negative economic news, from Japan to
More
Facebook Inc is asking its members to help shape its governance policies after drawing their ire for a policy change that many perceived as being overbearing and potentially compromising privacy. From now on, the social networking site will be guided by a set of principles that reflect its dedication to transparency and openness in communication,
More
Lloyds Banking Group said it had not finalised details of its plan to put billions of pounds of assets into a UK government-backed insurance scheme, as it unveiled a 10 billion pound loss for 2008. Lloyds said on Friday that HBOS — the mortgage lender it took over in January — suffered a 2008 statutory
More
Asian shares fell on Friday, ending a tough month marked by nagging fears about the world economy and the financial system, though Tokyo stocks rose and safety plays such as the dollar pared recent gains. Stock market gains at the start of the year unravelled further in February and the MSCI index of Asia-Pacific shares
More
The Cyprus Rally 2009 will be the most interesting and demanding World Rally Championship (WRC) event of the year, stated Thursday Vice Chairman of the Cyprus Rally Organising Committee and Member of Parliament Marinos Sizopoulos. Speaking at a press conference to announce the details of the Cyprus Rally 2009, to take place 13 – 15
More
Minister of Commerce, Industry and Tourism Antonis Paschalides will pay to Iran a two-day official visit at the invitation of his Iranian counterpart Sayyed Masoud Mirkazemi. According to an official press release, highlight of the visit, which will begin Sunday 1st of March, will be the signing of the Agreement for Mutual Promotion and Protection
More
European Central Bank President Jean-Claude Trichet called on euro zone countries on Thursday to rein in spending, particularly on wages in the public sector, amid a worrying rise in people out of work. "Unemployment is a clear concern right now in many parts of the euro area … wage restraint would help a lot in
More
Oil rose above $44 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March. Abu Dhabi National Oil Co, the main oil supplier in the UAE, said it will sell
More
The 2008 report on human rights in Cyprus, part of the annual US State Department report says Cyprus continued to be used as a centre for trafficking of persons. The report further adds that there with widespread reports that persons were trafficked through and within the country. Cyprus “was primarily a destination point for women
More
Euro zone states have always shown solidarity to each other and will continue to do so, Chancellor Angela Merkel said on Thursday, her strongest signal to date that Germany may be prepared to help weaker members of the bloc. Asked at a news conference with the foreign press in Berlin whether Germany could provide support
More