Capital Intelligence, the international credit rating agency, has raised the Financial Strength Rating of Bank of Alexandria (BoA) to BB+ from BB, as well as its foreign currency long-term and short-term ratings to BBB- from BB+, and A3 from B, respectively. The outlook for all the ratings is ‘stable’. The bank’s foreign currency ratings, which

The pound came under further pressure on Tuesday, battered by political worries and engorged public finances, while global equities stayed relatively buoyant. Euro zone government bond prices slipped with traders waiting for the next developments in Greece's debt crisis, likely to come after a cabinet meeting on Wednesday. World stocks as measured by MSCI were

Britain's top shares were 0.2 percent higher in early deals on Tuesday, bolstered by firmer banks as heavyweight HSBC rallied after its results disappointed in the previous session. At 0918 GMT, the FTSE 100 index was 8.18 points higher at 5,414.12, nearing a six-week peak, having closed 51.42 points, or 1 percent higher on Monday.

European shares were flat in early trade on Tuesday, with falls in drugmakers offsetting gains in mining stocks. By 0819 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.1 percent at 1,019.07 points after gaining 1.2 percent in the previous session. "It had a good run yesterday, so I would be surprised

Commissioner Olli Rehn on Monday tersely said that additional measures must be taken by the Greek government in order to meet a Stability & Growth Programme target of cutting its double-digit budget deficit by four percentage points in 2010. Rehn's comments came during a highly anticipated press briefing at the European Commission's offices in downtown

Unemployment rate in Cyprus reached in January 6.2%, recording a slight increase compared to 6.1% in December 2009. According to data published by Eurostat, the Statistical Office of the European Union, unemployment rate for males in Cyprus reached in January 6.1% (unchanged compared to December 2009), while female unemployment was 6.4% (6.2% in December 2009).

Minister of Commerce, Industry and Tourism Antonis Paschalides has stressed the need to improve the business environment for Small and Medium sized Enterprises (SMEs), especially as regards financing. Paschalides, who attended Monday the EU Competitiveness Council in Brussels, noted that the new EU industrial policy plan should include financing tools for SMEs, which are focused

Two new Ministers were appointed on Monday, replacing the two Ministers who resigned after the Movement of Social Democrats EDEK withdrew from the government coalition. Erato Kozakou Marcoullis has been appointed Minister of Communications and Works, replacing Nicos Nicolaides, and Demetris Eliades has been appointed Minister of Agriculture, Natural Resources and the Environment, replacing Michalis