The Executive Board of the International Monetary Fund has praised Cyprus for the progress that has so far achieved in the rescue program agreed with the Troika (IMF, EC and ECB). IMF convened Monday and approved the disbursement of €84.7 million in financial help to Cyprus. The announcement said that the Executive Board completed the
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Several people were killed and others injured when at least one gunman opened fire at the U.S. Navy Yard in Washington on Monday, authorities said. A Washington police spokesman said five people had been shot at the Naval Sea Systems Command headquarters, including a District of Columbia police officer and one other law enforcement officer.
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An earthquake shook buildings in the Greek capital on Monday but there were no immediate reports of casualties or damage. A magnitude 4.5 quake struck central Greece just before 15.00 GMT and was followed by a stronger tremor, the Athens Geodynamics Institute said. Fire brigade officials said they had not received any calls for assistance.
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Cyprus annual harmonized inflation in August marked a significant decline, showing deflationist tendencies due to the continuing economic downturn. According to figures released today by Eurostat, Cyprus' Harmonised Index of Consumer Prices (HICP) declined to 0,1% from 0.7% in July and compared to 4.5% in August 2012. Greece`s deflationist tendencies eased to 0.1% in August
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HMS Dragon, a Type 45 destroyer of the British Royal Navy, is scheduled to reach Cyprus today as part of the UK’s defensive military build up in the Eastern Mediterranean. A Ministry of Defence spokesman told CNA today that the ship was planned to return to Britain later this month following a routine mission in
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The economic crisis in Cyprus which reached its height in March negatively affected tourism in the country in 2013 Cyprus Tourism Organisation (CTO) President Alecos Oroundiotis said on Monday, noting however that the action taken so far indicates that prospects for the next three years are better. In late March this year, the Cypriot authorities
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Greek police fired teargas to disperse school guards trying to enter the Administrative Reforms Ministry in central Athens on Monday as teachers began a strike against public sector layoffs and forced transfers. High school teachers started the open-ended strike against government moves to place thousands of public sector workers in a so-called mobility scheme for
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Sterling rose to an eight-month high against a weaker dollar on Monday after Lawrence Summers, perceived by the market as more likely to favour a quick scaling back of monetary stimulus, pulled out from the race to be the next Fed chief. The pound was expected to stay strong on the back of recent solid
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The Scottish government said on Monday it has given consent on for work to begin on the largest tidal energy project in Europe in Pentland Firth, which separates the Orkney Islands from mainland Scotland. MeyGen Limited, a joint venture between investment bank Morgan Stanley, utility International Power and tidal technology firm Atlantis Resources Corporation, will
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European stocks rose to five-year highs on Monday in a broad-based rally as news Lawrence Summers has pulled out of the race to lead the U.S. Federal Reserve bolstered expectations for easier monetary policy for longer. Demand for equities was also boosted by an international deal to destroy Syria's chemical arsenal, which put off a
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