Three in every four Portuguese want the debt-laden country to stay in the euro zone, although about half the population oppose austerity measures demanded by its European Union and IMF lenders, an opinion poll showed on Monday. The survey, carried out by Eurosondagem pollsters and published by Diario de Noticias daily, showed only 36.5 percent
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Cyprus Minister of Finance Kikis Kazamias appeared optimistic that by 15 December Cyprus will adopt a new set of fiscal consolidation measures. Kazamias participated in the meeting of President of the Republic Demetris Christofias with the head of the main opposition party, DISY, Nicos Anastasiades on Monday, in a bid to reach consensus over a
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The newly appointed Chairman of the Cyprus Investment Promotion Agency (CIPA) Christodoulos Angastiniotis has highlighted the great prospects of attracting foreign investment in the field of energy in Cyprus, as a result of the exploration now underway in the Republic’s Exclusive Economic Zone for hydrocarbon reserves. In an interview with Cyprus News Agency, Angastiniotis analysed
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The U.S. economy may face a graver threat from Europe's debt crisis than is currently thought, the Organization for Economic Co-operation and Development said in a report warning the recovery could be derailed. In its latest economic outlook released on Monday, the OECD said the level of uncertainty surrounding the U.S. economy was high and
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Turkey offered to bow to EU demands and open its ports, airports and airspace to Cyprus under what it called a "Taiwanese-style" diplomatic arrangement to help drive Cypriot reunification talks resuming on Monday under U.N. pressure for a breakthrough. The European Union Ankara seeks to join demands Turkey end an embargo on Greek Cypriot traffic
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South Korea's communications regulator said on Saturday that personal information of more than 13 million subscribers of a popular online game of Nexon Korea Corp, a leading game developer in the country, had been leaked in a hacking attack. The Korea Communications Commission (KCC) said in a statement Nexon reported to the commission late Friday
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Shares in Thomas Cook Group Plc will be in focus on Monday after the world's oldest travel firm secured new funding from its banks, easing fears over its future. The stock crashed last week, losing three-quarters of its value on Tuesday after the 170-year-old company asked its lenders to come to its rescue for the
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Arab states have landed a hefty blow on Syria's crisis-hit economy by stopping deals with its central bank and halting investment, but unease among Syria's neighbours about the impact of sanctions on their own economies may weaken the impact. At their meeting in Cairo on Sunday, Arab League foreign ministers also agreed to freeze assets
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Cyprus needs an effective fiscal consolidation plan to regain trust of the markets, but failure to do so will trigger an "exceptionally unpleasant" downward spiral, Central Bank governor Athanasios Orphanides was quoted as saying on Saturday. Orphanides, a member of the Governing Council of the ECB, said delays in addressing economic problems would ultimately lead
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President Barack Obama will press European Union officials on Monday to reach a definitive solution to their sovereign debt crisis which is emerging as a major 2012 U.S. election worry. As Germany and France scramble to tighten budget controls across the euro zone, European Council President Herman Van Rompuy and European Commission President Jose Manuel
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