Euro zone finance ministers are considering the possibility of paying in capital to the ESM euro zone permanent bailout fund over three years instead of four, to give the fund its full lending capacity more quickly, a senior euro zone official said. Euro zone finance ministers will discuss an increase in the combined lending capacity
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After falling by 14.5% in 2011 and 1.9% in 2010, building permits continued the downward trend in the new year, with the number falling by 13% to 555. The number of dwelling units authorised collapsed by 40.5% to 468. The value of building permits sank by 20.5% to EUR 125.4 mln and the area fell
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Karim Benzema and Kaka scored late goals to give Real Madrid an emphatic 3-0 win at APOEL Nicosia in the Champions League quarter-final first leg on Tuesday. The nine-times European champions dominated the match but APOEL, the first Cypriot side to reach the last 16 of Europe's premier club competition, defended solidly to frustrate their
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Thomas Cook said its performance in Britain had improved as a new advertising campaign and improvements to its website boosted sales, offering some respite for the world's oldest travel company which issued three profit warnings last year. Thomas Cook, which secured a 200 million pound ($319 million) rescue package from lenders in November, reported an
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Brent crude fell for a second session on Wednesday, breaching $125, on the possibility of a release of strategic oil reserves by the United States even after crude stockpiles in the world's largest oil user rose more than expected last week. Oil remained supported by supply concerns on rising tensions between Iran and the West,
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The yen edged higher against the dollar on Wednesday, supported by seasonal flows from Japanese exporters who bought the yen with the end of their financial year approaching. The dollar fell 0.3% to 82.92 yen, while the euro eased 0.2% to 110.52 yen to inch away from a 4-1/2 month high of 111.43 yen hit
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Investors who bought protection against a Greek credit default and restructuring collected a total of $2.89 billion against losses they suffered in a Greek debt swap, the Depository Trust & Clearing Corporation said on Tuesday. The CDS payments make up the difference between the recovery rate of 21.50 euro cents determined at an auction to
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Eurofast Taxand has added a new service, the Transfer Pricing Unit (TP Unit) as part of its Tax Services in Cyprus. Eurofast experts can now offer practical solutions to potential effects of transfer pricing rules and regulations on various tax structures involving Cyprus, including holding, financing or IP company in Cyprus, transactions with shares within
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Dynamic Works has launched a new and interactive website for the Human Resources Development Authority (HRDA) with a primary purpose to maximise business competitiveness in Cyprus, build a stronger economy and deliver on both short-term challenges and long-term opportunities for its people. The new website has a more user-friendly web address, www.anad.org.cy , with a
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* Asia grows 40%, LatAm up 24% Baker Tilly International recently reported its financial performance for the 12-months ending June 2011 with global combined revenues rising by 5% to $3.2 bln. The international accounting and advisory network maintained its position as the world's eighth largest by combined revenue, closing the gap on both sixth placed
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