The Cypriot authorities will sign on Friday a cooperation agreement with Deloitte to carry out an audit of the implementation of rules and regulations against money laundering as these are incorporated in the Cypriot financial system, in line with a Eurogroup decision. Reliable sources have told the CNA that talks are talking place since early
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European shares edged lower on Friday to end a four-day run higher, with some traders citing concerns that Cyprus may need more bailout money as a main factor weighing on markets. The pan-European FTSEurofirst 300 slipped 0.3 percent to 1,189.31 points, while the euro zone's blue-chip Euro STOXX 50 index declined 0.5 percent to 2,660.67
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German investor Joh A Benckiser (JAB) is to buy the owner of Douwe Egberts coffee in 7.5-billion-euro ($9.8 billion) deal to bolster its position in a hot drinks industry driven by innovation and emerging market growth. D.E Master Blenders 1753, the Dutch owner of Douwe Egberts coffee and Pickwick tea, said on Friday it had
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Finland apologised to Russian President Vladimir Putin after its police accidentally put him on a blacklist of people with connections to criminal activity. Seeking to avoid a diplomatic spat with its historically dominant neighbour, Finland quickly removed Putin's name from the list which is not public, but whose inclusion of Putin was revealed by Finnish
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The lion's share of Mexico's beef exports to Russia will not be blocked by a Russian ban on meat imports it fears may contain traces of the feed additive ractopamine, according to an official advisory received by the Mexicans on Wednesday. Russia had warned it would only import beef from five of the 25 processing
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Cyprus has allowed bank transactions of up to 300,000 euros domestically and raised the threshold for company payments abroad, partly easing capital controls in place since March 28 to avert a bank run, the finance ministry said on Thursday. Cyprus has increased the threshold for company payments outside the country to 20,000 euros from 5,000
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Asian shares retreated on Friday after recent gains, with investor confidence underpinned by Wall Street's record-high close overnight, while the yen hovered near four-year lows against the dollar. European markets were likely to ease also, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open down as much as 0.5 percent.
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Turkey's parliament passed a reform of its anti-terrorism laws in a vote late on Thursday, narrowing the definition of terrorist propaganda in line with EU demands that it boost freedom of expression. The reforms coincide with progress in efforts by the government and Kurdish militants to negotiate an end to a 28-year insurgency, but the
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Back in 2008, the 500 or so slum dwellers of Terras do Lelo were finally looking forward to a better life. The authorities had decided where they would relocate the mainly Portuguese-speaking immigrants and Roma from their plywood and corrugated iron shacks that disfigure the fringes of one of south Lisbon's smartest beach resorts. And
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EU Finance Minister, meeting in Dublin today, are expected to reach a political agreement on a Memorandum of Understanding with Cyprus. However, the final decision is anticipated at the end of the month and funds are expected to flow in the first two weeks in May, according to a Eurozone official. The Memorandum is already
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