Biggest Latvia govt party to back budget-chmn

The chairman of the largest party in Latvia's five-party ruling coalition said on Thursday his party would back harsh spending cuts to win more International Monetary Fund (IMF) and European Union (EU)

Cyprus protests new violations by Turkey

Cyprus’ Permanent Representative to the UN, Ambassador Minas Hadjimichael, in a letter dated 4th June 2009 to the UN Secretary General, protested over a new incident of violation of Cyprus’s sovereignty and

Bank of Cyprus convertible issue over-subscribed

Bank of Cyprus announces that the issue of up to EUR645.327.822 Convertible Capital Securities has been oversubscribed with total subscriptions amounting to EUR 659 mln. Subscriptions were received from Eligible Shareholders (with

Cyprus consumer spending down 4% in May

Consumer spending through use of plastic money fell 4% year-on-year to EUR 142.8 mln in May 2009 according to the credit card clearing consortium, JCC Payments Systems. (Full report available in print

Cyprus VAT receipts tumble in May

VAT receipts, which constitute the biggest component of indirect taxes fell 6.5% to EUR 716 mln in the first five months of the year, a clear indication of a weakening private consumption