Cyprus President Nicos Anastasiades has appointed Christoforos Fokaides as the new Minister of Defence, an official press release issued on Thursday writes. Fokaides, an economist and political scientist, assumes his duties following the sudden death of Tasos Mitsopoulos due to a ruptured brain aneurism on Saturday March 22. The ceremony of affirmation will be held
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UK law firm fends off European order to defend buyers A law firm in the U.K. has successfully overturned a European Enforcement Order (EEO) against a number of home owners who are being sued by banks and developers in Cyprus, on the grounds that the court order relates to the mis-selling of properties. “The EEO
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What’s next after the global financial crisis? Multinational Finance Society (MFS) Symposium, Larnaca, April 4-5 *By Panayiotis Andreou On behalf of the Programme and Organising Committee Chairs, I welcome you to the 2014 MFS Symposium to be held on Friday & Saturday, April 4-5, 2014 in the beautiful town of Larnaca. The town has a
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. Massive rains and golf-balls sized hail pelted Hong Kong this weekend, but the weather did not stop the throngs from showing up and cheering on the annual Rugby Sevens. Yet surely it was a tough year for the scalpers, who gather outside the stadium on game days to sell coveted tickets at huge mark-ups
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The euthanasia of pensioners in Peoria It is suggested everywhere that the US budget deficit is contracting because government consumption is falling as a percentage of GDP, now that the worst of the crisis has passed. This would be very good news indeed, however, we are not so sure that this decline is for real.
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Great expectations in India Between April 7 and May 12, the world’s largest democracy will take to the polls. The outcome of India’s general election could very well determine the country’s economic fate and global positioning for years ahead. The upcoming election comes as India faces its longest period of below 5% economic growth since
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“Cypriot authorities are carrying out the reforms set out in the programme with commitment and determination”, Vice-President Olli Rehn, responsible for Economic and Monetary Affairs said on Wednesday, on the occasion of the first Activity Report by the Support Group for Cyprus. According to Rehn, these reforms are helping Cyprus to repair its financial sector,
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UN Secretary-General Ban Ki-moon urged Cyprus President Nicos Anastasiades to maintain the current momentum in Cyprus talks, following the February resumption of full-fledged negotiations, a UN Spokesperson said. It was added that they agreed on the importance of implementing mutual confidence-building measures on the island. Referring to the meeting between the two men, on Wednesday,
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A budget surplus of €84,3 millions which equals to a GDP of 0.53 %, the consolidated accounts of the Central Government have shown for the first two months of 2014, an improvement which is mainly due to a significant reduction in public spending. According to the figures released today by the Ministry of Finance, the
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Cyprus Finance Ministry said the country`s fiscal deficit was expected to rise to 5.8% of GDP in 2014 compared to 5.4% the year before. In accordance with the latest macroeconomic scenario, published by the Ministry, on Wednesday, Cyprus` primary balance is estimated to remain at last years’ level as a percent to GDP at about
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