Greece will extend a debt buyback that forms part of its international bailout for an extra day to receive additional offers from bondholders, a government official said on Monday. Athens plans to buy back bonds with a face value of about 30 billion euros at deeply discounted prices to lower its debt load. A deadline
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Japan's economy contracted for a second straight quarter in July-September, revised government data showed on Monday, indicating that weak global demand nudged the export-reliant economy into a mild recession. Analysts expect another quarter of contraction in the final three months of this year due to sluggish exports to China, keeping the Bank of Japan under
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**Tourism and professional services show growth** The Cyprus economy declined by less than initially estimated according to revised figures for the third quarter. The preliminary “flash” estimate put the real, seasonally adjusted GDP decline in the third quarter at 0.5% over the previous period and 2.3% over the third quarter of 2011. According to the
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A record 1 billion people will travel across an international border as a tourist in 2012, according to the World Travel & Tourism Council. That means that one in seven people on the planet will participate in world traveling this year, an activity that just a few decades ago was exclusively for the wealthy. The
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Max Clifford, Britain's highest-profile celebrity publicist, was arrested for alleged sex crimes on Thursday by a special police unit set up in the wake of an abuse scandal involving a former BBC TV star, his lawyer said. Clifford, 69, made his name and fortune helping some of Britain's most famous people defend and shape their
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Oil prices slipped and the euro fell the most in a month on Thursday after the European Central Bank said growth in the euro zone is likely to shrink next year, sparking speculation of an interest rate cut. But global shares edged higher, with U.S. stocks advancing modestly as investors watched for signs of progress
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Finance Minister Vassos Shiarly has described the 2013 state budget as the most crucial in the country`s contemporary history. The 2013 stated budget incorporates the fiscal consolidation measures agreed with the Troika of European Commission, the European Central Bank and the International Monetary Fund, as part of Cyprus` application for financial assistance from the EU
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Current developments in the energy sector at Cyprus Energy Forum Current developments in the energy sector and the prospects from the exploitation of natural gas within Cyprus’ Exclusive Economic Zone (EEZ) as well as future cooperation with Israel were the focus of the 2nd Cyprus Energy Forum which took place, on Thursday, in Nicosia. Addressing
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Two Grant Agreements were signed on Wednesday between the Republic of Cyprus and Iceland, Lichtenstein and Norway, one concerning the inter-sectoral programme financed by the Grants of the European Economic Area (EEA) and one concerning the inter-sectoral programme financed by the Grants of Norway According to an official press release issued here Thursday, the Planning
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The EU will spend over one to two trillion euro on energy networks by the year 2050, depending on the final decisions to be taken, said Thursday Cypriot Minister of Commerce, Industry and Tourism Neoclis Sylikiotis. Speaking at a meeting of the Committee of the Regions of the EU (CoR), in Brussels, Sylikiotis said that
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