Global summits organiser IRN is hosting the 2nd Annual Cypriot-Greek Oil & Gas Summit in Limassol this week that will be held under the auspices of the Greek Ministry of Environment, Energy & Climate Change, with Ioannis Maniatis, the Head of Sector and former Minister as key speaker. Charles Ellinas, the Chairman of KRETYK, the Cypriot
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A senior economist is urging the Cyprus government not to sell its gold reserves, with the 10 tonnes up for sale expected to fetch some 400 mln euros to be better utilised to launch a gold-backed bond. The government is pondering whether to sell most of its reserves, which, supposedly is the property of the
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Cyprus finance minister Haris Georgiades said on Wednesday he anticipated the government to sell part of its 13.9 tonnes in gold reserves "during the next months", but the final decision rested with the central bank. Cyprus has to sell most of its gold to raise about 400 mln euros to finance its part of a
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Two investor groups have reportedly submitted bids for a 33% stake in Greece's betting monopoly OPAP, the first big privatisation under the country's bailout plan. The bidders are U.S. hedge fund Third Point and a group including Czech investor Jiri Smecj, Greek shipowner George Melisanidis and Greek businessman Dimitris Copelouzos, the official who declined to
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The European Central Bank should do more to ensure that its cheap loans to banks were being passed on to the real economy and the ECB itself must become more transparent and accountable in line with its growing role in the Eurozone crisis, a resolution adopted by MEPs said on Wednesday. On Tuesday, MEPs discussed
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Two rockets fired from Egypt's Sinai peninsula struck Israel's Red Sea resort of Eilat on Wednesday, causing no casualties or damage, the Israeli military said, in an attack claimed by Islamist militants. The incident was likely to fuel Israeli concerns about lawlessness in neighboring Sinai, where militant groups have stepped up their activities since Egyptian
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Russian Prime Minister Dmitry Medvedev defended his government's record in a combative speech to parliament on Wednesday after President Vladimir Putin signaled he may be losing patience with his long-time ally. There has been speculation for months in the media and among political analysts that Putin, now 60, could make Medvedev a scapegoat if Russia's
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. Fiona Mullen, Director, Sapienta Economics Ltd. A number of ideas have been doing the rounds for attracting new investment into Cyprus. There will inevitably be a temptation to go for the quick buck—mop up all of that extra housing stock by offering citizenship and or residency to Chinese citizens for only a little bit
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Tests on beef products in Italy have found that one in 25 contain more than 1 percent horse meat, the Italian Health Ministry said on Monday. Italy launched an inspection of the sector in response to the scandal of horse meat in products labelled as beef that has spread across Europe since January, prompting product
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Grosvenor Group, which owns most of London's upscale Mayfair and Belgravia districts, said the rate of luxury home price growth in the capital looked unsustainable after years of foreigners pouring cash into the safe-haven market. Luxury home prices have surged 53 percent since 2009, compared with 25 percent in Greater London, as investors sought refuge
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