Ministers of Agriculture, Natural Resources and Environment Michalis Polynikis, and Minister of Communications and Works Nicos Nicolaides, who have resigned, are expected to remain in office until the next meeting of the Council of Ministers. The two Ministers resigned after the Movement of Social Democrats EDEK withdrew from the government. Speaking after a cabinet meeting
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The Bicommunal Peace Initiative ''United Cyprus'' has determined progress in negotiations for a solution of the Cyprus problem, after meetings with the leaders of the two communities. A delegation of the Initiative was received on Wednesday by President of the Republic of Cyprus Demetris Christofias, who informed the members of the delegation about recent developments.
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Cyprus' trade deficit reached 4.3 billion euro in the first eleven months of 2009, reduced by 1.4 bln euro, compared to the corresponding period of 2008, figures released by Eurostat on Wednesday show. According to Eurostat first estimates, Cyprus’ total imports reached 800 million euro, marking a 20% decrease compared with the first eleven months
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The U.S. dollar rose against the euro on Thursday as poor growth prospects and Greece's fiscal deterioration hounded the euro zone single currency, while gold slid after the International Monetary Fund said it would sell more of its bullion holdings. Major European stocks were expected to open between 0.1 percent to 0.2 percent higher, according
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The federal regulator of Fannie Mae and Freddie Mac on Wednesday proposed an overhaul of how the mortgage funding giants would serve the nation's housing market. The Federal Housing Finance Agency said for 2010 and 2011 it is planning goals for single-family home purchases for low-income families, very low-income families and families in low-income, high
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Stocks rose on Wednesday, boosted by strong results from farm equipment maker Deere & Co (DE.N), while data showed housing starts rebounded more strongly than expected. The Dow Jones industrial average (.DJI) rose 26.45 points, or 0.26 percent, to 10,295.26. The Standard & Poor's 500 Index (.SPX) gained 4.08 points, or 0.37 percent, to 1,098.95.
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U.S. housing starts hit their highest in six months and industrial output rose a solid 0.9 percent in January in signs an economic recovery was taking a firm hold as the year began. Groundbreaking activity for new homes increased 2.8 percent to a seasonally adjusted annual rate of 591,000 units, reversing the prior month's weather-induced
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Spot gold hit a one-month peak and euro-priced bullion rose to record highs in Europe on Wednesday, supported by strong investment interest and news that South Africa is to levy royalties on minerals exports. Spot gold rose as high as $1,126.85 an ounce, its highest since Jan. 20, while euro-priced gold rose to a record
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World stocks rose on Wednesday and the euro held on to most of the previous day's sharp gains as strong company earnings from both sides of the Atlantic shifted focus away from concerns about euro zone debt. French bank BNP Paribas rose more than 3 percent after it took fewer bad debt provisions than expected
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Oil rose towards $78 a barrel on Wednesday, supported by a weaker dollar and gains in stock markets on renewed investor risk appetite as concerns about a euro zone debt crisis subsided. U.S. crude for March delivery rose 43 cents to $77.44 a barrel at 1045 GMT, after closing 3.9 percent higher on Tuesday, the
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