Moody's Investors Service has downgraded the government of Belarus' foreign and local currency bond ratings from B1 to B2 and has assigned a negative outlook to the ratings due to the country’s significant near term external financing gaps, and the medium term difficulties of reorienting the current external debt funded, domestic demand-led growth model. In
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Total sales of petroleum products dropped by 2.8% compared with the corresponding period of the previous year in January – February 2011, possibly because high oil prices are leading to more careful use of fuel. In February alone, total sales of petroleum products rose by 6.5% compared with the previous month. A large increase was
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Tourism revenue recorded a strong increase in February, rising by 8.8% compared with the same month of 2010. Total revenue reached EUR 36.9 mln, from EUR 33.9 mln in the corresponding month of the previous year. The increase was on the back of 12.7% increase in February tourism arrivals. For the first two months of
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President of the Republic of Cyprus Demetris Christofias and Turkish Cypriot leader Dervis Eroglu will meet on Wednesday morning in the framework of the UN-backed direct negotiations for a solution to the Cyprus problem. The meeting will be held at the residence of the Special Representative of the UN Secretary General in Cyprus, in the
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Global stocks rebounded on Tuesday from early losses tied to Japan's struggle to contain the world's worst nuclear crisis in decades, while the euro steadied after comments by the European Central Bank's chief bolstered the view it would raise interest rates soon. Japan's Nikkei index was down about 0.3 percent in late trading after falling
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Men are more likely to ignore directions given by their satellite navigation systems than women, a survey has found, confirming the old stereotype that men hate asking for directions. While 83 percent of male drivers regularly rebel against their sat navs, less than three-quarters of women disobey the devices which UK drivers branded as "untrustworthy"
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As Britney Spears prepares to launch her seventh studio album "Femme Fatale" on Tuesday, the pop star faces keen competition from Lady Gaga, Katie Perry and Rihanna, who reign atop Billboard's Hot 100 singles ranking. Her younger rivals' dominance this week may be coincidental — indeed, Spears also topped the ranking recently with "Hold It
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. By Shavasb Bohdjalian The International Collective Investment Schemes (ICIS) or in layman’s terms, Private Funds, are probably one of the best vehicles through which promoters may raise money from up to 100 investors worldwide and at the same time offer such investors a great deal of protection, with respect to safety of assets, valuations
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The number of building permits rose in Cyprus in January, raising hopes that we might just be seeing the first green shoots of a sector that has seen two punishing years of contraction in 2009-10. The number of building permits authorised by the municipal authorities and the district administration offices during January 2011 reached 638,
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The unemployment rate in Cyprus reached 5.4% of the labour force in the fourth quarter of 2010, according to the latest Labour Force Survey, down from 6.0% in the same quarter of 2009. Unemployment also fell in absolute numbers, to 21,899 from 24,273 in the same period of the previous year. The unemployment rate in
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