Governments struggle with financial crisis

Iceland took over its second largest bank on Tuesday and Russia announced an aid package for banks, seeking to limit damage from the global financial crisis. Following are measures taken by national

Cypriot banks are robust, Central Bank assures

 All banks operating in Cyprus, including the subsidiaries of Greek banks, are robust and secure, Central Bank of Cyprus has announced, commenting on the possible impact of the financial crisis the world

Oil rises toward $90 after steep slide

Oil rose by almost $2 a barrel on Tuesday after a large interest rate cut by Australia's central bank aroused hopes that other policymakers would follow suit to stem the credit crisis.

World Bank chief says G7 should be replaced

The Group of Seven rich nations is no longer effective and should be replaced by a steering group that includes emerging economic powers like China, India and Brazil, World Bank President Robert

Russia calls for joint action on financial crisis

Russian President Dmitry Medvedev called for urgent international measures to tackle the global financial crisis in a video statement published on the Kremlin.ru website on Tuesday. Medvedev said he would join European

Cyprus population rises 1.4% in 2007

Headline figures from the Statistical Service report that the population of Cyprus (in the government-controlled area of the Greek Cypriot south) was estimated at 789,300 at the end of 2007, recording an