Over the past 10 years, the sovereign credit rating on Russia has developed from an esoteric attribute of debt issuance into a pragmatic instrument for measuring credit risk, and taken on an important role in the investment decision-making process. The country's evolution since its sovereign debt default a decade ago is outlined in an article
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Asian stocks dropped on Tuesday, with markets in Japan and Hong Kong down 5%, on concerns Wall Street's upheaval will cause lasting damage to the global economy, sending investors fleeing to government debt. The yield on the 10-year U.S. Treasury note dropped to a six-month low with increased speculation about an aggressive U.S. Federal Reserve
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Oil plunged $5 on Monday as investors fled to safer havens due to turmoil in the U.S. financial system and on early signs Hurricane Ike had spared key U.S. energy infrastructure. U.S. crude dropped $5.13 to $96.05 barrel at 1338 GMT, after hitting a seven-month low of $94.13 earlier. U.S. oil fell below $100 briefly
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Stocks slid on Monday as the bankruptcy filing by investment bank Lehman Brothers Holdings Inc and cascading fears about the stability of other major financial institutions spooked global markets. Shares of financial services companies, including insurer American International Group, led the slide amid mounting fears about the impact of the year-long credit crisis on the
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Shares of U.S. video game publisher Take Two Interactive Software Inc plunged nearly 30 percent in premarket trading on Monday after larger rival Electronic Arts Inc abandoned its takeover bid. EA said on Sunday it terminated private talks with the publisher of the "Grand Theft Auto" video game and decided not to pursue an acquisition.
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Consumer electronics retailer Best Buy Co. Inc said on Monday it plans to buy digital music service Napster Inc for $121 million in cash. Best Buy said it will $2.65 per share, nearly double the amount of Friday's closing price. Included in the deal is approximately $67 million in cash and short term investments held
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The imminent disappearance of major investment banks Lehman Brothers and Merrill Lynch presents a double-barrelled hit to an already wounded job market, and will likely depress salaries on Wall Street. Lehman filed for bankruptcy protection after frantic attempts to find a rescuer failed on Sunday, while Merrill Lynch agreed to be taken over by Bank
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The Cyprus Tourism Organisation (CTO) is focusing on two actions to cover the gap left by XL Airways, one of the major British airlines, which closed down. Senior CTO officer Christos Moustras told CNA that XL Airways, which closed down, was scheduled to transport some 10,000 tourists to Cyprus by the end of October. He
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Global stocks and crude oil prices fell sharply on Monday after Lehman Brothers Holdings Inc's filing for bankruptcy protection made investors flee risky assets and flock to the safety of government debt. Shares of financial services companies plunged when U.S. equity markets opened amid widespread concerns about the outlook for the economy and corporate profits.
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The Board of Directors of Bank of Cyprus Public Company Ltd has decided the following changes in the composition of its Board Committees. The composition of Board Committees is as follows: Audit Committee Costas Ζ. Severis (Chairman) Evdokimos Xenophontos George Μ. Georgiades Andreas J. Jacovides Manthos Mavrommatis Nominations Committee Manthos Mavrommatis (Chairman) Andreas Artemis Vassilis
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