European leaders agreed on Sunday to push for a global crackdown on tax havens and strict new regulation of hedge funds as part of a sweeping overhaul of financial rules designed to prevent future market meltdowns. German Chancellor Angela Merkel invited fellow European Union leaders to a one-day summit in Berlin to prepare a common
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France, set to open a military base in the United Arab Emirates this year, said on Sunday that Iran should take part in a dialogue with Gulf Arab countries to ally their fears over its nuclear programme. France is among world powers trying to exert pressure on Iran to halt its atomic work, which has
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Piraeus Bank is offering competitive loans totaling EUR 150 mln for small and medium sized enterprises (SMEs) to coincide with its first anniversary of full banking operations in Cyprus. Piraeus Chairman Michalis Salas, who was in Cyprus to mark the occasion, said that having met its objectives, the bank plans to use Cyprus as a
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“Négociant/Éleveur†Rex Smith of Paphos Emails me: “I have just started taking in interest in wine. The other day I noticed on a bottle of French wine, at the bottom of the label, the name of the producer and the words “Négociant/Éleveur”. What do they mean? A “Négociant" is a merchant" or "dealer," which refers
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THE RISK WATCH COLUMN: Dr Alan Waring No, this article is not about the risks of HIV or other social diseases. Nevertheless, there are some uncomfortable analogies when it comes to protecting oneself and one’s company from the hidden toxic effects of otherwise apparently desirable business partners, co-directors, joint venture companies, merger-and-acquisition targets, capital investment
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. Everybody keeps on saying that the tourism industry is vital to the island’s economy and that it needs all the support it can get, yet when it comes to actually pumping money into the sector or rebuilding the aged infrastructure and reforming the whole concept, nothing is done. This has been the steadiest money-earner
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Real Madrid remains the world’s largest revenue generating football club, according to the latest Football Money League from Deloitte. Manchester United and Barcelona finished second and third in the report, which ranks the 20 biggest football clubs in the world based on revenue. Each of the top three clubs generated revenues in excess of EUR
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SAP globally, as well as in Greece and Cyprus, recorded high growth rates, which reached double digits during the financial year 2008. Specifically, SAP AG recorded revenue of EUR 8.46 bln from software sales and provision of related services, achieving a 16% rise comparing to the financial year of 2007, during which revenues reached EUR
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Louis is planning a special 10-day ‘pilgrimage’ cruise that will start from Limassol on March 29 and visit some of the most important Greek islands and Constantinople. Priced at 699 euros per person, the 1200-passenger Cristal will stop at Rhodes, Patmos, Efessos, Constantinople and Thessaloniki with an overnight stay in both cities, Volos, Peireas and
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Cyprus’ three largest banks have increased their spreads charged on corporate loans and facilities from 1.5% to 2.5% in an attempt to protect margins, which in effect means that the recent decline in euro borrowing costs will not reach thousands of businesses. The widening of spreads is also in contrast to statements made by Finance
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