The euro tumbled to a one-year low against the yen on Thursday and Asian stocks fell on fears that a potential downgrade of Greece's debt rating will worsen Europe's outlook and imperil the global economic recovery. Standard & Poor's said overnight that it may still cut its rating on Greece by up to two notches

Cyprus Chamber of Commerce and Industry (KEVE) and Cyprus Organization for Standardization will organize here February 26-17 a conference on “Health Care Business”. Speaking during a press conference, KEVE President Manthos Mavrommatis said that the Chamber’s aim is to make Cyprus an international services centre especially in the medical field. He noted that this conference

Minister of Commerce, Industry and Tourism Antonis Paschalides said here today that after adopting the Lisbon Treaty, the EU can undertake action in order to support tourism, adding that the EU has the competency to support, coordinate and complement moves by the member states. Addressing a public dialogue on “A new framework for the tourism

The Spanish savings bank sector has been significantly weakened by the severe crisis in the country's real estate market and the overall weaker operating environment. In this context, there is an increased impetus to restructure the sector by means of mergers or other forms of integrations between institutions — a process that in general is

Cyprus President Christofias has said he exchanged views with Turkish Cypriot leader Mehmet Ali Talat on the chapter of economy, during a new meeting in the framework of the UN-led direct negotiations for an agreed settlement to the Cyprus problem which resumed on Wednesday. ''The discussion on the issue of economy began. We exchanged our

2010 should be a year of improvement for the Middle East as a sluggish global recovery gains momentum and investor confidence rebuilds, Moody's Investors Service predicted in its first annual "Middle East Sovereign Outlook" report. Indeed, Moody's only sovereign rating actions in the region so far this year have been positive: the upgrade of Saudi

The euro is in a difficult position for the first time but will weather the storm, German Chancellor Angela Merkel said in a newspaper interview published on Wednesday. It was dangerous that some countries were being speculated against, she said, adding that debt-ridden euro zone members such as Greece had to tackle their own problems.