The Eurozone Finance Ministers will approve Friday the next tranche of the Cypriot financial assistance programme amounting to 1.5 billion euro to be disbursed on 27 September, a senior Eurozone official said here on Thursday. The official told reporters that Cyprus has fulfilled all its obligations and that there are no pending issues. “The compliance
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Cyprus has released images of the first orange-coloured test flare from the offshore oil and gas exploration by Noble Energy in Block 12 of the Exclusive Economic Zone, adjacent to Israel’s resource-rich Leviathan field, with experts suggesting it contains a high grade of methane, making it cheaper to process and export. Local media covered the
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Turkish Prime Minister Tayyip Erdogan said on Thursday he was doubtful that President Bashar al-Assad would fulfil his pledge to put Syria's chemical weapons under international control, and said he was buying time for new "massacres". "The Assad regime has not lived up to any of its pledges, it has won time for new massacres
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Greece's jobless rate hit a record high of 27.9 percent in June, data showed on Thursday, as the labour market continued to buckle in a deep recession with austerity policies linked to the country's bailout. Unemployment rose from 27.6 percent in May, and was more than twice the average rate in the euro zone of
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The U.S. government spent nearly $62 billion on disaster relief in the two-year period ending Sept. 30, 2012, to help Americans recover from severe storms, droughts, heat waves and wildfires, a new analysis of federal data has found. The Agriculture Department accounted for more than half of all federal disaster spending for those two years,
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European Parliament President Martin Schulz has said that no other country needs investments as much as Cyprus. Schulz was speaking during a press conference on the sidelines of a European Parliament plenary, in Strasburg, on Wednesday. He referred to the European Parliament’s efforts so that the most possible help can be given to Cyprus. Cyprus,
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The Cabinet has appointed two executive members at the Cyprus Central Bank Board of Directors, an official press release issued here, on Wednesday, says. The two new members are Giorgos Syrihas and Stelios Kiliaris. Their term of office is five years, the press release concludes.
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. Which idiot is taxing the hotels? Ever since representatives from the trio of international lenders arrived on the island to look into the fragile state of our economy and how it can recover, all the ills and failures of Cyprus are blamed on the “blood-thirsty” Troikans. In actual fact, all they have done is
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. Why a Cypriot euro really is worth a German euro (Unless you are very rich) By Fiona Mullen, Director, Sapienta Economics Ltd Since capital controls were imposed as a result of the conditions of the Cyprus bailout in March, I have seen a number of articles declaring that a Cypriot euro is not worth
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European Commission President Jose Manuel Barroso declared on Wednesday that economic recovery was within sight after nearly four years of Europe's debt crisis and urged governments to move faster to complete a stalled banking union. In his last State of the Union speech before European Parliament elections next May, Barroso offered no new policy proposals
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