Follows downgrade of Piraeus Bank of Greece Moody's Investors Service has downgraded the long-term local currency deposit rating of Piraeus Bank Bulgaria AD (PBB) to Baa3 from Baa2. At the same time, the rating agency has confirmed the bank's short-term local currency deposit rating at Prime-3, and its long- and short-term foreign currency deposit ratings

Zain Bahrain has showcased the region’s first LTE call, setting new standards for the telecoms sector by achieving a download data speed of 70 Mbps in a trial to demonstrate its LTE readiness, just six months after announcing the Middle East’s first LTE contract with Nokia Siemens Networks. Achieving a minimum latency of 15 milliseconds

As Apple Inc gears up for the crush of customers expected for Saturday's iPad launch, employees who staff its retail stores are just as curious about the tablet as the fans who will line up outside. Apple store workers say they have yet to see or touch the iPad, even though the launch is just

 World equities ticked down on Wednesday though they were headed for their fourth consecutive quarterly rise, while the dollar hit a three-month high against the yen and the Australian dollar fell. Copper prices retreated on concern about a supply surplus in China, the world's top consumer of industrial metals, and safe-haven government bonds were flat

The preliminary or final results of the major insurance groups in Europe for 2009 have, in most cases, recovered from the significant losses recorded in 2008, aided in part by an improved performance in investment markets. However, companies' figures for 2009 were still below the high earnings levels reported in 2007 and 2006. Indeed, in

The global financial crisis has led to a significant number of defaults among banks in the Commonwealth of Independent States (CIS), according to Moody’s. However, with the adverse operating conditions beginning to show some signs of easing, the incidence of default has likely peaked, the rating agency said in a new report that documents the

The credit outlook for European automotive parts manufacturers remains negative, according to a Moody's report, adding that following a difficult 2009, 2010 will be another challenging year for the sector. "2009 was probably the toughest year for the European automotive industry since World War II," said Rainer Neidnig, a Moody's analyst and author of the

A decrease of 11% was recorded by the Industrial Turnover Index in 2009, compared to 2008, according to an announcement issued today by Cyprus Statistical Service (CyStat). In December 2009, the Industrial Turnover Index reached 127.6 units (base 2005=100), recording a decrease of 9.6%, compared to December 2008. The index in the sector of Manufacturing,