Nicolas Papadopoulos submitted today his resignation from his position as Vice-president of the centre-right Democratic Party (DIKO). Papadopoulos said in a written statement that his resignation constitutes a political act of expressing his disagreement with his party decision to support the leader of the opposition right-wing DISY party Nicos Anastasiades for the Presidency of the
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International Monetary Fund head Christine Lagarde has said that the bailout package between Cyprus and the international lenders has not been completed yet because there are clearly financing issues that need to be resolved in order for a program to be accepted and for the debt to be sustainable. Lagarde was speaking during a press
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Russia says it is working hard to firm up plans for a new round of talks between global powers and Iran over Tehran's nuclear programme, which the West suspects is aimed at developing nuclear weapons capability. Iranian news agency ISNA said on Wednesday that Iran and six world powers would resume talks in late January
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A man triggered a major security scare in Cyprus on Wednesday when he walked into a police station carrying a bomb he found on his driveway, saying he wanted officers to examine it. Police said the 33-year old man discovered a suspicious device on the back window of his car and after drawing a blank
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One of Russia’s most notorious criminal masterminds, Mafia godfather Aslan Usoyan, also known as ‘Grandpa Hassan,’ was shot dead by a sniper rifle in central Moscow on Wednesday, police said. A sniper fired at Usoyan as the 75-year-old was walking out of a restaurant in Povarskaya Street in Central Moscow. His bodyguards failed to cover
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Airlines scrambled on Thursday to rearrange flights as Europe, Japan and India joined the United States in grounding Boeing Co's 787 Dreamliner passenger jets while battery-related problems are investigated. The lightweight, mainly carbon-composite plane has been plagued by recent mishaps – including an emergency landing of an All Nippon Airways domestic flight on Wednesday after
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Countries could increase the productivity of infrastructure investment to make savings of 40 percent, or $1 trillion a year, by adopting proven best practices, McKinsey Global Institute (MGI) said on Thursday. MGI estimated that the world needs to spend $57 trillion on infrastructure – the sinews of an economy – between now and 2030 simply
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The Russian Ministry of Finance has removed Cyprus from its `black list`, according to a Cyprus Ministry of Finance press release issued here, on Wednesday. This move comes as a result of a Protocol signed on October 7, 2010 amending the agreement for the avoidance of double taxation of 1998 between the two countries. A
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Asian shares fell on Thursday, erasing earlier gains amid worries about the global growth outlook as investors remained cautious ahead of Chinese data on Friday. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%, extending declines for a third consecutive session, led by a slump in Chinese shares. The index's financial sector was
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Stability, jobs and growth will be the focus of the Irish EU Presidency, said Wednesday before the European Parliament Plenary Prime Minister of Ireland, Enda Kenny. Presenting the priorities of the Irish EU Presidency, he said that “the deepest hurt is that of unemployment”, adding that “we will prioritise the Youth Employment Package including the
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