The new bank that emerged from the breakup of Greece's troubled Hellenic Postbank will initially hire all of the old lender's staff but offer voluntary redundancies as it tries to cut payroll costs by 30%, its management said on Saturday. Greece said on Friday it would split Hellenic Postbank into "good" and "bad" parts and
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The Central Bank of Cyprus said on Saturday that consultations on defining a bailout sum for its Greece-exposed banks were still in progress, effectively overshooting a deadline to decide how much aid the cash-strapped island will need from lenders. Evaluating bank capital needs is crucial to determining how much Cyprus should receive in badly needed
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Cypriot tennis ace Marcos Baghdatis’ Australian Open singles campaign came to an end on Friday night in Melbourne when he was beaten by World No. 4 David Ferrer, 6-4, 6-2, 6-3, in the third round. Ferrer said after the match that “I played my best match of the week. To beat Marco I had to
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From January 19th 2013, all new driving licences issued across the EU will be in the form of a plastic "credit card," with a standard European format and tougher security protection. The new European licence will progressively replace the more than 100 different paper and plastic models currently in use by more than 300 million
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Eleven candidates officially submitted their nominations in total on Friday at the official nomination process for the forthcoming February 17 Presidential elections. For the first time in the history of Presidential elections in Cyprus, two women have joined the race for the Presidential office. The nomination process started at the Hilton, in Nicosia at 09.00
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Turkish journalist Mehmet Ali Birand, whose documentaries and books helped shape many Turks' understanding of their recent tumultuous history, died in Istanbul late on Thursday. Birand suffered cardiac arrest due to complications while undergoing gallbladder surgery, according to the Hurriyet Daily News for which he worked. The 71-year-old had been battling cancer, for which he
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Greece's parliament voted early on Friday to probe former Finance Minister George Papaconstantinou for his role in a scandal over a list of potential tax evaders that has rattled the fragile ruling coalition. In a relief for the government, Socialist chief Evangelos Venizelos, a former finance minister and one of three coalition leaders, escaped an
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– 2012 was weakest full-year growth since 1999 – Recovery tepid amid uncertain outlook for global economy China's economy grew at its slowest pace in 13 years in 2012, though a year-end spurt supported by infrastructure spending and a jump in trade signalled the foundation for the stable growth path Beijing says is vital for
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Severe floods in Jakarta eased on Friday, a day after unusually heavy monsoon rains swamped parts of the Indonesian capital in waist-deep water and left more than 18,000 people homeless. However, authorities warned of more rain and disruptions in the city of about 10 million people after Thursday's floods killed six people and turned Jakarta's
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Two U.S. fighter jets were scrambled on Thursday to escort a commercial airliner to Seattle after the FBI received an anonymous tip, apparently unfounded, that a hijacker was aboard, officials said. The plane, which originated in Hawaii, landed safely at about 7 p.m. local time at the Seattle-Tacoma International Airport, where it was met by
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