Turkish President Abdullah Gul said in a newspaper interview in London that Ankara saw itself as part of Europe and remained committed to the West regardless of its close links to countries in the Middle East. "I consider it very wrong to interpret Turkey's interests with other geographic regions as it breaking from the West,
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Stocks in Hong Kong and Shanghai retreated on Friday morning as liquidity tightened ahead of Agricultural Bank of China's initial public offering, with Chalco down after it cut spot alumina prices to deal with falling demand. The benchmark Hang Seng Index was down 1.38% or 277.57 points or 1.38% at a three-week low of 19,851.42
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Australia ended a damaging dispute with global miners on Friday by dumping its "super profits" tax for a lower resources rent tax backed by big miners, clearing a major hurdle to call an early election. The deal looks positive for miners and the government. Although miners will pay more tax, the total will be less
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The outlook for the Dutch banking system remains negative, Moody's Investors Service said in its new outlook for the Netherlands, reflecting the many uncertainties and risks associated with the still ongoing radical transformation of the country’s banking system. Moody's noted that the Dutch banking system has seen major upheavals since last year, as the repercussions
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Finance Minister Charilaos Stavrakis has said the registration of foreign companies for the first semester of 2010 is 25% higher than the equivalent period of last year, adding that over the course of the past weeks there has been an increase in Russian deposits, particularly in US dollars and Euros, raising the Cypriot economy’s liquidity.
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Investors gave stocks and commodities a wide berth on Thursday on mounting worries about the strength of the global economic recovery after manufacturing data showed China's rapid growth was slowing. Moody's warning late on Wednesday that it may cut the credit ratings of Spain added to the sour mood, which saw higher-yielding assets pressured. Investors
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Growth in Asia's factory output cooled further in June, with China hitting its slowest pace in 14 months, in the latest evidence that rapid economic expansion that has supported the global recovery is moderating. Asian stocks and commodity prices fell after surveys of Chinese purchasing managers added to concerns over the global outlook, although economists
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Finance Minister: Marginal economic recovery seems to be accelerating Nicosia, Jun 30 (CNA) — The marginal recovery of the Cypriot economy seems to be accelerating, Cypriot Finance Minister Charilaos Stavrakis said Wednesday. ''The marginal recovery of the Cypriot economy we pointed out in the last few weeks seems to be accelerating,'' Stavrakis said in statements
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Trade unions, representing the wider public sector, have accepted to renew the collective agreements of their members without any salary increase. At the trade unions’ meeting, which took place Wednesday, General Secretary of the Cyprus Workers' Confederation (SEK), Nikos Moiseos, said that employees in the public sector are making a great sacrifice by accepting no
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A Canadian national arrested yesterday in connection with an alleged Russian spy network in the United States has gone missing, Cyprus Police Spokesman Michalis Katsounotos said on Wednesday, adding that the Police awaits a warrant for his arrest to be issued. Katsounotos told CNA, that Robert Christopher Metsos, 54, arrested yesterday in the passport control
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