U.S. Federal Reserve Chairman Ben Bernanke warned on Tuesday that unless government efforts succeed in restoring financial stability, the nation's recession may not end this year. Bernanke told lawmakers that the sharply
U.S. consumer confidence plunged to another record low in February with expectations that already dire economic conditions will continue to weaken and the jobs market will further deteriorate. The Conference Board, an
Citigroup has downgraded its price targets of Greek and Cypriot banks in its latest report dated February 23, 2009. Citi has slashed its target price on Bank of Cyprus to EUR 2.75/share
Five persons, representing the right-wing Democratic Rally party, submitted their candidacy for the June European Parliament elections. They are: Ioannis Kasoulides, Christos Stylianides, Eleni Theocharous, Timis Efthymiou and Christoforos Fokaides. The sixth
UBS analysts are forecasting the fourth quarter profit of Marfin Popular Bank (MPB) at EUR 127 mln, while for the full year 2008, the forecast is EUR 450 mln. Marfin Popular publishes
Marfin Investment Group (MIG) announced today that it has withdrawn its application to the Central Bank of Cyprus for an increase of its shareholding in Marfin Popular Bank (MPB) of up to
Oil fell towards $38 on Tuesday as global markets tumbled, dragged down by Monday's fall in U.S. stocks to a 12-year low. Economic worries grew after Wall Street sank on Monday as
Business confidence fell sharply in February 2009 on the back of a decline in the construction sector, according to a survey conducted by the Economics Research Centre of the University of Cyprus,
The Cyprus Tourism Organization (CTO) expects that the decline in tourism arrivals in 2009 will exceed 10%, which would represent a decline of EUR 250 mln in foreign exchange earnings from tourism.
The NK Shacolas (Holdings) as well as the Cyprus Trading Corporation Plc (CTC) and Woolworth (Cyprus) Properties Plc (FWW) announced that within the framework of the Groups’ reorganization, they have agreed to
