Bank of Ireland's pre-provision profit shrank two thirds in the first half on the back of steep funding costs, underlining the challenge facing the country's largest lender despite its fresh investor base and falling impairment charge. The only domestic lender to avoid effective nationalisation after an unprecedented property binge in Ireland went belly-up, Bank of
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Asian stocks clawed back some lost ground on Wednesday, following a rebound in U.S. shares, after the Federal Reserve made an unprecedented pledge to keep interest rates near zero for at least two years, stemming a global equity rout for the time being. In Europe, Eurostoxx 50 futures rose 1.2% and financial bookmakers were calling
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. By Shavasb Bohdjalian Everybody knows that the forex market is the most vicious market in the world, with many forex traders burning their fingers over and over again. But the forex market remains by far the most popular market in the world since it offers the rare opportunity for investors or speculators to make
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. The new Cabinet appointed after much delay on Friday does not inspire confidence, neither as regards raising local sentiment, nor in getting the right messages across to our European partners and the international markets. It is clear that President Christofias has decided to use his loyal core ministers as the pillar of his policies
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Greece raised 812.5 mln euros in an auction of six-month T-bills on Tuesday, paying lenders a slightly lower yield than in a previous, larger auction but still more than it pays on its bailout loans. Debt-choked Greece is shut out of bond markets and can only hold short-term T-bill sales, and Tuesday's was the first
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Relatives of Commander Andreas Ioannides, one of the 13 seamen and firefighters killed in the July 11 blast at Mari naval base that knocked out the Vassiliko power station, have called for the resignationof the Attorney General and the Deputy Attorney General, as well as the suspension of the chief of police and his deputy,
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The package of austerity measures agreed to between the political parties and President Demetris Christofias have been watered down under union pressure and split into two, the first part to be tabled before parliament on Thursday, giving the government time to negotiate the rest in time for the Budget 2012 debate later this year. The
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But not for long The inflation rate eased slightly in July, as consumer prices rose by 3.7% compared with July 2010, having increased by 4.2% year on year in June. The main reason for the deceleration was a moderation in the food-price inflation rate, which reached 8.5% in June 2011 but eased to a still
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The number of building permits dropped again in May, falling by 9.2% over the year earlier to 691, having dropped by 16.2% in April. The value of these permits fell by 24.35 to EUR 173.5 mln and the total area dropped by 33.1% to 180,822 square metres. These building permits provided for the construction of
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The transport sector was worth EUR 1.7 bln in 2009. according to the latest report on transport from the Statistical Service. According to the report. the broad transport sector rose in current prices by 0.2% and amounted to EUR 1.748.2 mln in gross terms. compared with EUR 1,744.9 mln in 2008. The value added of
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