The government of Cyprus will soon open three more consulates in Russia, in the framework of its policy to facilitate Russian tourists who wish to visit the Mediterranean island, Minister of Commerce, Industry and Tourism Antonis Paschalides has said. In statements on Monday before leaving Moscow, the Cypriot Minister said that the new consulates will
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Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will meet here Tuesday, in the framework of the direct negotiations with a view to reach a settlement of the problem of Cyprus, divided since the Turkish invasion in 1974. The meeting will begin at 1000 local time and will take place in the
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Finance ministers from the 16-country euro zone agreed on Monday to mobilise financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would work. After talks in Brussels, the ministers published a statement saying they had agreed the technicalities of what would be the first rescue
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Stocks fell slightly on Monday on persistent concerns the Chinese government may tighten credit, which could hinder the global recovery from recession. Bank shares dipped, with the KBW bank index (.BKX) down 0.59 percent, on caution ahead of Senate Banking Committee Chairman Christopher Dodd's revised financial regulation proposal expected later on Monday. JPMorgan Chase &
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The European Union's executive said on Monday it was ready to propose a framework that could be used to aid Greece, despite signs of continuing reluctance from France and Germany to make concrete commitments. Ministers were expected to discuss the possibility of providing loan guarantees or bilateral loans to help Athens finance its debts if
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A bipartisan group of 130 U.S. lawmakers on Monday urged top Obama administration officials to take immediate action to address China's "currency manipulation." "The impact of China's currency manipulation on the U.S. economy cannot be overstated. Maintaining its currency at a devalued exchange rate provides a subsidy to Chinese companies and unfairly disadvantages foreign competitors,"
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OPEC ministers due to arrive here for their meeting on March 17 say there is no need to change output targets with oil prices above their preferred range, but soft demand is prompting calls to curb overproduction. "In my opinion, I don't think we are going to see any change, even though inventories are high,"
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European shares fell on Monday, as miners were pressured by lingering worries over monetary tightening in top commodities consumer China, while uncertainty over banking reform in the United States hurt financials. By 0925 GMT, pan-European FTSEurofirst 300 index of top shares was down 0.5 percent at 1,054.10 points, retreating from a seven-week peak reached in
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Any delay in tackling Britain's ballooning deficit risks undermining the country's credibility, opposition Conservatives said on Monday, drawing an electoral battle line ahead of the Labour government's March 24 budget. The Conservatives lead Labour in the opinion polls by a slim margin before an election expected to take place on May 6. Labour, in power
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The euro zone lost 347,000 jobs in the last quarter of 2009, data showed on Monday, as the 16-country area's economic recovery remained beset by fragility. The number of employed fell 0.2 percent in the final three months of the year against the previous quarter to 144.3 million, pulled down by job losses in the
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