Pope Francis wants to stay for the time being in a simple Vatican residence instead of moving into the spacious and regal papal apartments, the Vatican said on Tuesday. The former Cardinal Jorge Bergoglio of Argentina is still living in the Domus Santa Martha, a modern hotel-style residence inside the Vatican City where he stayed
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Thousands of students and hundreds of bank workers protested in the Cypriot capital Nicosia on Tuesday as banks stayed shut to stop a run on deposits after the island agreed a painful bailout to avert bankruptcy. The chairman of Cyprus's biggest commercial bank offered to resign after a special administrator was appointed over his head
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Fitch Ratings downgraded on Tuesday the three largest Cypriot banks, following an agreement reached at Eurogroup level in the early hours of Monday morning. The agency’s press release says that it has downgraded “the Long- and Short-Term Issuer Default Ratings (IDRs) of Cyprus Popular Bank (CPB) to Default (D) and those of Bank of Cyprus
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The Municipality of Larnaca and the town’s Tourist Development and Promotion Company have welcomed the addition of a new route by EasyJet, from Milan to Larnaca, as well as the docking of cruise ships from Israel at Larnaca Port. In a written statement, the Company notes that the two direct flights per week from Milan
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Piraeus Bank signed an agreement on Tuesday to acquire all of the Greek deposits, loans and branches of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank, including loans and deposits of their Greek subsidiaries (leasing, factoring and the Investment Bank of Greece), for a total cash consideration of €524 million. The branches of the
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Property valuers in Cyprus have suspended work as they come to terms with a financial bailout that is likely to deepen price falls of recent years, the chairman of the country's Property Valuers Association told Reuters. The association, which represents about 90 percent of valuers in the country, advised its members last week not to
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Despite a stagnating economy, an austerity drive, and a squeeze on living standards, more of the British public trust Prime Minister David Cameron to make the right economic decisions than his opposition rivals, a poll showed on Tuesday. Public perceptions about the economy and how it is being managed are closely tied to Cameron's political
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A Spanish association representing open-source software users has filed a complaint against Microsoft Corp to the European Commission, in a new challenge to the Windows developer following a hefty fine earlier this month. The 8,000 member-strong Hispalinux, which represents users and developers of the Linux operating system in Spain, said Microsoft had made it difficult
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Cyprus's Finance Minister Michael Sarris said on Tuesday that capital controls to prevent big outflows of cash from the island would probably last for "a matter of weeks." "I think we are talking a matter of weeks. That would be my sense," Sarris told BBC radio. He said he was confident that outflows would be
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Italy's top court will decide on April 18 whether to transfer two trials involving Silvio Berlusconi to the northern city of Brescia from Milan, where the former Italian prime minister says he cannot get a fair trial, judicial sources said on Tuesday. Berlusconi's appeal against a tax fraud conviction and a separate trial where he
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