Greek Cypriots and Turkish Cypriots will have to jointly face the problem of water shortage on the island when the Cyprus problem is solved, Cypriot President Demetris Christofias has said. Invited to comment on a press report according to which during the ongoing negotiations for a Cyprus solution the issue of transporting water from Turkey
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Mortgage lending barely rose at all in Britain in August, with the increase shrivelling to two percent of what it went up by a year ago. Other Bank of England data on Monday also showed fewer home loans were approved in Britain last month than at any time since records began a decade ago. The
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A security hole in Adobe Systems Inc software, used to distribute movies and TV shows over the Internet, is giving users free access to record and copy from Amazon.com Inc's video streaming service. The problem exposes online video content to the rampant piracy that plagued the music industry during the Napster era and is undermining
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The FTSE 100 slid 2.8 percent early on Monday as the part nationalisation of Bradford & Bingley dealt another blow to a reeling banking sector, ahead of a U.S. lawmaker vote on a $700 billion financial rescue package. By 0752 GMT the FTSE 100 was down 144.1 points at 4944.3, after losing 2.1 percent on
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Board of Directors of Phil. Andreou Public Ltd (PHIL.CY) approved the proposal for the payment of an interim dividend for the year 2008 amounting to 1 euro cent per share. The interim dividend will be paid by the 3rd of November 2008. An announcement will follow on when the shares will trade cum-dividend as well
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Approvals for new home loans in Britain fell to a series low in August while net mortgage lending slowed to a near standstill, figures from the Bank of England showed on Monday. The BoE said approvals fell to 32,000 last month from 33,000 in July. While marginally higher than analyst forecasts, it was the lowest
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U.S. lawmakers prepared to vote on Monday on a $700 billion government fund to buy bad debt as the global financial crisis kept markets on tenterhooks by forcing European authorities to rescue troubled banks. As investors around the world hung on every twist and turn in Washington, Belgian-Dutch group Fortis was nationalised and British mortgage
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Britain nationalised Bradford & Bingley on Monday, making the buy-to-let mortgage lender the second bank to be taken into public ownership this year as a deepening financial crisis claims more victims around the world. After intense weekend talks failed to find a completely private sector solution, the Treasury said it would take over B&B's mortgage
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Congressional leaders agreed on a deal to authorize the biggest banking rescue in US history. – The $700 billion in buying power would be doled out by Congress in stages. After the first $250 billion is authorized, the President could request another $100 billion. The final $350 billion could be cleared by a further act
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British lender Bradford & Bingley's branch network and deposit business will be sold to Spain's Banco Santander, and the remainder of the group would be nationalised, the UK government said. B&B's branch network and deposit business will be combined with Abbey, the UK bank that Santander bought in 2004, the UK Treasury said in a
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