Turkish side’s positions do not leave ground for optimism regarding the outcome of the renew efforts to reach a Cyprus settlement, President of the House of Representatives Marios Garoyian has said. “We are not optimistic” about the outcome of the direct talks between the leaders of the two communities, “not because we do not want
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Cyprus ranks first so far on the UEFA country ranking table for the new football season 2008-2009, with 5.666 points, after last week’s results in the European Cups. Anorthosis Famagusta FC beat on Wednesday Athens Panathinaikos FC with 3-1 in Champions’ League Group B matchday 2, and FC APOEL secured a 1-1 draw in ''Veltins
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BNP Paribas <BNPP.PA> took control of the Belgian and Luxembourg businesses of troubled financial group Fortis <FOR.BR> on Sunday in a complex rescue that will make Belgium the French bank's biggest shareholder. The deal was the most spectacular cross-border rescue since the U.S.-born credit crisis swept into Europe last month, upending banks and rattling savers'
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Germany offered a blanket bank deposit guarantee as it clinched a deal to rescue lender Hypo Real Estate, while regulators from Washington to Seoul took their own steps to ensure the stability of financial firms. Officials across the globe are scrambling to contain the fallout from the deepest financial crisis since the 1930s amid continued
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Three more European governments offered blanket bank deposit guarantees before shell-shocked markets open on Monday, as regulators from Washington to Seoul scrambled to contain the deepest financial crisis in 80 years. For its part, the U.S. Federal Reserve is pushing Citigroup Inc and rival Wells Fargo & Co to compromise over their competing bids for
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Asian stocks fell 4% on Monday and the yen surged to a 2-year high against the euro as investors doubted the scattered European response to the financial crisis and the $700 bln U.S. bank bailout could prevent a global recession. The need for stability drove up U.S. and Japanese government bond prices and increased demand
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Oil fell below $94 a barrel on Friday after a report showed U.S. employers slashed jobs in September, the latest indication of the weakening economy of the world's largest oil consumer. Investors awaited a vote on the U.S. financial bailout plan in the U.S. House of Representatives but showed scepticism that the package would be
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British bank savings of up to 50,000 pounds will be guaranteed by the government from next week and the sum could be further increased as regulators battle to restore confidence in the banking sector. Britain's Financial Services Authority said on Friday it had raised the compensation limit for savings to 50,000 pounds per customer claim
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U.S. employers cut payrolls at the steepest rate in 5-1/2 years during September, slashing an unexpectedly large 159,000 nonfarm jobs as employment contracted for a ninth straight month. The unemployment rate was unchanged from August at 6.1 percent. September's job losses were more severe than predicted by Wall Street economists surveyed by Reuters, who had
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The UK economy is likely headed into a recession. 67% of economists now believe the UK will go into recession within the next year and this number has been rising. At 9.5x Earnings the UK market is cheap and may already be discounting further earnings downgrades, however it has been cheaper in the past, note
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