A former policeman and an ex-prison officer admitted on Friday to selling information to the Sun, a British tabloid newspaper owned by Rupert Murdoch, in the first guilty pleas to come out of a huge police investigation into wrongdoing by journalists. The charges stemmed from an inquiry launched in 2011 into allegations journalists from Murdoch's
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The Cyprus economy is a small one but the systemic risks may not be small, European Central Bank Governor Mario Draghi has warned. “What I can say is that there is good progress” he said, replying to questions on Cyprus during a press conference, adding that “in terms of exactly assessing the progress, I would
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A delegation of the Finance Committee of the German Bundestag is going to visit Cyprus in April, following the visit of the Committee of Economics and Technology from 6-8 March and its meetings with the House President and the Finance Minister. According to CNA sources, the visit is scheduled between 10 – 12 April. On
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World shares hit their highest level since June 2008 and the dollar touched a fresh 3-1/2-year high against the yen on Friday, ahead of U.S. jobs data expected to point to a continuing pick up in the world's biggest economy. China also gave markets a boost as official data showed February exports grew 21.8 percent
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Norway's $710 billion sovereign wealth fund continued to shift away from Europe at the end of last year as the continent's economies struggled, buying into key Asian and emerging markets instead, it said on Friday. The fund, one of the world's biggest investors, cut its European holdings to 48 percent by the end of the
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The outlook for the Austrian banking system remains negative, Moody's Investors Service said, adding this is unchanged from 2009 and reflects a weakening operating environment in Austria, amidst recessionary trends in Europe and pressurised operating environments in several Central and Eastern European countries (CEE); rising risk charges and deteriorating asset quality; and the limited loss-absorption
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The Council of Ministers approved today and tabled before the House of Representatives a bill to amend current legislation which would allow the appointment of Deputy Ministers at six ministries. Speaking to the press after today’s Cabinet meeting, Government Spokesman Christos Stylianides did not specify which Ministries will have a Deputy Minister, pending approval of
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The heads of a Troika delegation (European Commission, ECB, IMF) continue on Friday their meetings in Nicosia and discussions on financial sector matters in relation to Cyprus’ bailout agreement. The heads of the Troika delegation are meeting with the Governor of the Central Bank Panicos Demetriades, who was in Frankfurt for a meeting of the
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– European tourism seen up 2-3 pct in 2013 – Greece bookings rebound, Alltours sees 30 pct rise – Emerging markets to be main driver of global tourism Tourism in Greece is bouncing back this year in an otherwise flat European market, held back by the weak economic climate, travel industry executives said. The desire for
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A voluntary share exchange offer that will allow Greek Coke bottler Coca-Cola Hellenic (CCH) to move from Greece to Switzerland and list on the London Stock Exchange has been approved by the British authorities. CCH said last year it would move its base from cash-strapped Greece to tax-free Switzerland and switch its premier listing from
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