Asian stocks drifted down on Monday as investors booked profits from a New Year rally that had pushed markets to multi-month highs, although financial stocks gained after global regulators decided to relax draft plans for tough new bank liquidity rules. Commodity prices mostly held steady, supported by data showing the U.S. economy continuing on a
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Four Greek banks are bidding for state-controlled Hellenic Postbank in the latest step in the battered sector's consolidation. Postbank, 44% government-owned and deemed to be not viable, is being divided into two parts – a "good" business that will be sold or run as a stand-alone entity, and a "bad" bank that will be liquidated.
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* Financial Mirror Consensus Forecast sees 3% contraction * A happy and (we hope, despite everything) a prosperous new year to our readers. We really would have liked to have started the new year off on a positive note by reporting that our distinguished panel of economists were forecasting better times to come in 2013.
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* Most jobs saved, to reopen as New Era Orphanides * Suppliers owed some 85 mln euros by Orphanides Supermarkets, the one-time darling of the Cyprus stock market, are expected to take over most of the operations of the chain and rename it “New Era Orphanides” (NEO) to try to turn it around and recoup
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Presidential elections in Cyprus were officially proclaimed Friday by Interior Minister Eleni Mavrou and will take place on February 17, even though the three main candidates have been campaigning for almost four months. With the result of an outright winner highly unlikely, a second round will probably take place a week later on February 24
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Mainland China shares eked out a gain to start 2013, with a rise in property counters on anticipated demand helping reverse midday losses as investors returned on Friday from a three-day New Year holiday. The CSI300 of the top Shanghai and Shenzhen A-shares closed up 0.1% at 2,524.4. The Shanghai Composite Index crawled up 0.4%.
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Britain's healthcare cost watchdog has given its backing to eye drug Lucentis t o treat diabetes-related problems after Swiss drugmaker Novartis offered it at a discount to the National Health Service. The National Institute for Health and Clinical Excellence (NICE), in a reversal of an earlier decision, said on Friday Lucentis should now be available
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Asian shares fell on Friday, as investors booked profits from a recent sharp climb after senior Federal Reserve officials expressed concerns about continuing to expand stimulative bond buying, but the dollar extended gains as U.S. debt yields rose. European shares were seen tracking Asian peers lower, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40
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Greek business and household bank deposits rose again in November as doubts over the country's euro zone membership eased, but credit to the private sector continued to contract, official data showed on Thursday. Bank of Greece figures showed deposits increased for the third consecutive month – by 640 million euros to 155.89 billion euros ($206.3
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Star forward, Cristiano Ronaldo, won’t prolong his contract with Real Madrid and will leave the Spanish capital as soon as it expires in 2015. According to AS newspaper, Real’s bosses have offered the Portuguese attacker a new contract until 2018 worth €15 million per year. Despite the €5 million pay raise, Cristiano refused the offer
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