Europe, Japan data point to worse times ahead

Euro zone services and manufacturing data suggested on Friday that economic contraction may be worse in 2009, dragging European shares to 6-year lows, while Japan said the fall in company profits was

Cyprus to increase loans used for ECB Collateral

Cyprus Finance Minister Charilaos Stavrakis said on Friday the Finance Ministry and the Central Bank of Cyprus have drafted a plan so that government guaranteed loans conducted by local authorities and semi-governmental

Cyprus’ positions on EU energy plan

Energy supply security, oil reserves and energy projects have been discussed at the EU Council of Ministers for Energy meeting. Cyprus was represented at the Council by Permanent Secretary of the Ministry