The sooner longstanding problems are solved, the sooner Cyprus will be sending signals of trustworthiness to international markets, the Governor of the Central Bank of Cyprus Athanasios Orphanides said on Thursday, pointing out that some of the downgrading of the island's economy can be reversed. Speaking after a lunch organised by the Nicosia Rotary Club,
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Preparations for Cyprus’s EU Presidency in the second half of 2012 is at a very good stage and is progressing according to schedule, the Head of the Secretariat of the Cyprus EU Presidency, Andreas Moleskis, said here today. Replying to a question about the progress of the preparations, Moleskis said ''we are on a good
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Greek bank stocks were losing more than 4.0% on Thursday, underperforming the broader market, on wider government bond spreads and a downswing in Europe. "Disappointment over Credit Suisse results and a widening of yield spreads prompted some profit taking after a good run this month," said analyst Nick Galousis at Kappa Securities. At 14:45 GMT
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Just two years after the merger between Laiki Investments and CLR, the new entity Marfin CLR continues to command the volume of trade on the Cyprus stock exchange accounting for one in four transactions in January when the market turnover reached 87.7 mln euros. Marfin CLR remained in the lead with trades worth 21.3 mln
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A new Irish government is likely to wait until a fresh round of stress tests are completed before recapitalising the country's top lenders, giving the only bank left trading on the main index more time to avoid state control. The main opposition party, expected to lead the next government after a Feb. 25 election, said
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Greek Minister of Foreign Affairs Demetris Droutsas will be visiting Cyprus on February 14, to discuss developments in the Cyprus problem and the next steps in the process for a solution. Droutsas is expected to be received by President of the Republic Demetris Christofias and to meet with Minister of Foreign Affairs Marcos Kyprianou. On
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If you live in Italy and if the barking of your dogs keeps the neighbours up at night, it's you who might wind up caged — in a jail cell. The top appeals court sentenced four people in Sicily to two months in jail because they refused to keep their 10 dogs quiet at night
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If South Korea raises interest rates on Friday, three of Asia's biggest economies will have tightened policy within a week, challenging the assumption that central banks lack the stomach to combat inflation. Indeed, with markets pricing in further increases across Asia to anchor inflation expectations, some economists are raising the tantalising prospect that price pressures
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Federal Reserve Chairman Ben Bernanke on Wednesday warned against sharp cuts in U.S. spending at a time when the economic recovery is still fragile enough to require extraordinary support from the central bank. Even as he warned about the need for a long-term plan to address "unsustainable" budget deficits, Bernanke said steep reductions in government
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Asian stock markets fell on Thursday, while the dollar struggled to make much headway after the U.S. central bank chief signalled the recovery in the world's biggest economy was still fragile and warned against sharp spending cuts. Commodity prices including crude oil were subdued after Federal Reserve Chairman Ben Bernanke suggested U.S. economic conditions were
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