The European Commission has decided to refer Cyprus to the European Court of Justice on broadband retail regulation and rights of way respectively. The Cypriot case involves a failure to properly apply the procedure for granting rights to install facilities for the mobile sector on public property or to adopt additional measures to enable their
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The European Commission has decided to pursue infringement procedures against Cyprus and another 11 Member States for failure to implement certain Internal Market Directives into national law. The Commission will refer Austria, Belgium, Cyprus, France, Greece, Ireland, Portugal and Spain to the European Court of Justice over non-implementation of a Directive on recognition of professional
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Greece's stock market will stay on watch for a possible downgrade to "advanced emerging" from its current "developed market" status, global index compiler FTSE said following an annual review of country classifications. "Changes recently introduced by Greece to take into account the outstanding FTSE Quality of Markets criteria have yet to be fully adopted by
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The world's top central banks joined forces on Thursday to throw a multi-billion dollar lifeline to global markets in a dramatic effort to free up bank-to-bank lending, frozen by the upheavals on Wall Street. In a surprise move, the U.S. Federal Reserve made an extra $180 billion available to central banks around the world to
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By Michael Stott (Reuters) Russia's worst financial market crisis since 1998 could strengthen further the Kremlin hawks who favour a strong state and oppose closer links with the West. Emboldened by military success in Georgia, where Russian troops quickly crushed a troublesome pro-Western opponent, the hardliners may now seize the opportunity of market turmoil to
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Russia extended emergency state support available to financial markets to $130 billion on Thursday to help prop up sinking stocks and improve liquidity after the worst stockmarket losses in a decade. Share trading on Russia's two main exchanges was shut for a second day and foreign exchange reserves were down $13 billion on a week
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LONDON, Sept 18 (Reuters) – European shares rose further in afternoon trade on Thursday, as a coordinated action by major central banks to pour billion of dollars into money markets helped stocks, especially banks. At 1127 GMT, the FTSEurofirst 300 index of top European companies was up 1.4 percent at 1,085.01 points. It hit an
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Cyprus Minister of the Interior Neoclis Sylikiotis said that the criminal act of human trafficking and other such phenomena cannot be accepted , noting that soon the action plan for the implementation of the Council of Europe treaty on human trafficking would be completed. Speaking in Larnaca after the first part of the regional operational
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EU Commissioner for Enlargement Olli Rehn said a Cyprus settlement should imply a bizonal, bicommunal federation with political equality, as defined by relevant UN Security Council resolutions, and should respect EU founding principles. The Finnish Commissioner referred to the Cyprus problem on Thursday in a speech titled ''The EU and the Western Balkans: The Critical
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UEFA Vice President Marios Lefkaritis said on Thursday that the Turkish Cypriots had ''in fact declined the proposal of FIFA and UEFA'' for their ''federation'' to join the Cyprus Football Federation (KOP) instead of separate Turkish Cypriot clubs to become members of KOP. Lefkaritis clarified that the proposal of FIFA and UEFA had not originated
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