Cyprus building permits defy global trends

The number of building permits authorised in Cyprus rose by 1% year on year in November, to 826, compared with 818 in November 2007. The value of building permits increased by considerably

IMF cuts global forecast, warns on deflation

The International Monetary Fund on Wednesday forecast the world economy would slow to a near standstill this year, warning that deflation risks were rising and saying toxic assets need to be removed

FSA discussing leverage ratio with other regulators

Britain's Financial Services Authority is discussing with international partners the use of a leverage ratio to complement the Basel II capital adequacy requirements to which banks currently adhere. FSA Chairman Adair Turner

UK’s Brown warns against sterling target

British Prime Minister Gordon Brown warned on Wednesday against any policies directed at managing the pound's exchange rate. Brown said previous British attempts at targeting exchange rates had failed and that current

IMF warns on funding, new Fed easing awaited

The International Monetary Fund underlined the scale of the global economic crisis on Wednesday, saying it risked running out of money, while investors awaited the U.S. central bank's latest efforts to get