Financial economics professor Panicos Demetriades is most likely to be appointed the new Cyprus central bank governor and representative at the European Central Bank, news reports said. The report in the Politis daily was the first to suggest a definitive outcome after widespread rumours over several weeks that Demetriades would succeed Athanasios Orphanides. However, sources
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. BY YOSEF ABRAMOWITZ As we in Israel look west to the Mediterranean, it is with much pride that we continue to welcome the increased bi-lateral relations between our two countries; treaties, agreements and memorandums of understanding that have recently been signed in many areas – religious, defence, renewable energy, natural gas, electrical transmission and
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. BY PRAXOULA ANTONIADOU KYRIACOU The United Democrats had supported the candidacy of Demitris Christofias in the Presidential elections of 2008 on the expectation that he would work effectively towards the attainment of an agreed solution for the reunification of Cyprus. After the devastating accident in July 2011 which had destructed the main electricity generation
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. ANALYSIS Just over a year ago, Turkey's prime minister addressed Syrian President Bashar al-Assad in Damascus as "my brother". Today, illusions of kinship are long gone and the region's rising power finds itself marshalling efforts to press him from power, but increasingly wary of being pitched into military action. The falling out between Assad
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Asian stocks rebounded on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment even though the U.S. economy has shown signs of improvement. Wall Street stocks had risen more than 1% on Bernanke's comments, which supported views that easy monetary policy would remain
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Greece's exit from the euro would be a "catastrophic" political and economic mistake that would severely weaken Europe's single currency bloc, German Chancellor Angela Merkel said in a BBC interview broadcast on Monday. While Greece faces a "long and arduous road", Merkel said European leaders must keep Athens within the euro zone or risk a
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Brent held steady above $125 on Tuesday as comments from the U.S. Federal Reserve indicating easy monetary policy would remain in place for some time raised investors' appetite for riskier assets. Oil prices also continued to draw support from supply concerns amid tightening Western sanctions on Iran over the Islamic Republic's disputed nuclear programme. Brent
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The dollar held near a one-month low against a basket of currencies on Tuesday after Federal Reserve Chairman Ben Bernanke signalled that a supportive monetary policy would remain and kept alive hopes of more monetary stimulus for the U.S. economy. The dollar index was at 78.937, stuck near a low of 78.870 hit on Monday
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Oil trader Vitol sold a cargo of Russian Urals crude to Greek refiner Hellenic Petroleum in a rare tender, traders said on Monday as the country is taking further steps to cut imports of Iranian crude ahead of a EU-wide embargo. Greece turned to Iran as a supplier of last resort last year despite pressure
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**Visits to Israel leap ** While inbound tourism dropped by 11% over the year earlier in February, outbound tourism increased, according to the results of the Passengers Survey. In February 72,824 residents of Cyprus returned from a trip abroad compared with 69,325 in the corresponding month last year, thus marking an increase of 5.0%. Almost
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