Until investors have a clear idea of exactly how much money Greece will receive from the European Union and the IMF — and when — uncertainty stemming from the Hellenic Republic's growing fiscal despair will weigh on global markets. For Greece, the situation is critical as the cost of insuring its debt against default jumps
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The euro stabilised on Monday and Asian share markets rose after Greece requested emergency aid and as a raft of U.S. data showed its economic recovery was gathering strength. Greece's finance minister said on Sunday aid from the EU and IMF would arrive in time to avert what would be the euro zone's first sovereign
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. BY DR. OZAY MEHMET The CTP/AKEL elite management of the “made in Cyprus” saga died a sudden death in Sunday’s elections in northern Cyprus that gave the nationalist veteran politician, Dr. Dervis Eroglu a slim victory with just over 50% of 76% of voters who went to the polls. Mehmet Ali Talat’s departure can
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A serious stock overhang, weakening occupational and investment demand and the consequences of a worsening Greek banking situation do not bode well for the Cypriot real estate market, made worse as speculative supply kept being added long after demand had begun to weaken, an analyst report has concluded. “We are convinced the Cyprus property market
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. BY COSTIS STAMBOLIS Although the word “bailout” is not actually used by either EU or Greek government officials when commenting on the ongoing negotiations, there is little doubt among banking circles that this is what the latest agreement, which was sanctioned at a meeting of EU finance ministers in Madrid last Friday, is all
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. BY DR ALAN WARING Many large organisations are terribly naïve when it comes to recognising their significant risk exposures. Two independent cases exemplify just how unrealistic some companies can be about their vulnerabilities. What lessons can be learned? Case 1: “Security Threats Start Next Year” The first case concerns a major project in the
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. QUALITY and VALUE FOR MONEY are the things the Cyprus Gourmet searches for, every day of the year. Too often in this country the consumer/customer/visitor is not getting the best deal for the food and wine he buys, whether in a restaurant or taverna or from a food retailer. And today, much of what
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. Is President Christofias far more clever and far-sighted than we give him credit for or is he surrounded by a bunch of morons? There can be no other explanation why a whole administration refuses to take into consideration most of the IMF recommendations. Worse still, this government is hell-bent on introducing more regulation, even
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Popular with Cypriots to Australia, South Africa Barely a year into its operation to Cyprus and Etihad Airways is already enjoying a steady growth in its business with plans to add a fourth schedule to its weekly flights from Abu Dhabi. Furthermore, the airline is currently testing a quick and efficient way to issue ‘guest’
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Helping Europe outperform the US in first quarter The London Stock Exchange regained its number one position for initial public offerings (IPOs) among European stock markets in the first quarter of 2010, recovering from its unaccustomed third place by offering value behind NYSE Euronext and the Warsaw Stock Exchange in the previous quarter. This helped
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