When the global economic crisis hit in the autumn of 2008 there was a joke in Portugal that the world was finally catching up, and stumbling as it had after its own, home-grown housing bust in the early 2000s. Little did the Portuguese know that such vindictiveness would come back and bite them — after
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The Australian dollar fell and bonds jumped on Wednesday on decreased chances of an interest rate rise in February, while Japanese bank shares surged on a report of a possible delay in new global bank capital rules. Dealers scrambled to slash bets that the Reserve Bank of Australia would raise rates a fourth consecutive time
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Japan's Nikkei average rose 0.9 percent to hit its highest close in seven weeks on Wednesday, with bank shares soaring after a report that global banking regulators are eyeing effectively delaying the implementation of new capital rules. Real estate stocks such as Mitsui Fudosan gained on hopes banks might lend more following the same report
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. (1) Cyprus Style Once a year, a few weeks before Christmas a young man from KEO bounds up the steps to my house dangling a stylish paper carrier. “Mr Patrick”, he calls out, “I have a present from KEO for you”. This annual gesture to a journalist is usually a bottle of the limited
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Double Tax Treaty with Brazil: An opportunity for Cyprus? BY MARINA THEODOTOU Jim O’Neill a global economist at Goldman Sachs first coined the acronym back in the beginning of the decade, to highlight the emerging markets of Brazil, Russia, India and China. While all four countries have vast differences in culture, language and history, they
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. Despite the wealth of publicly available information on company performance, stakeholders still struggle to see the bigger picture of how well businesses are performing, a new report for Ernst & Young has found. “The financial communication challenge”, a report produced by Tapestry Networks for E&Y, found that financial stakeholders are increasingly relying on non-audited
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. Insurance analysts across the world believe that a lack of quality and consistency in current insurance reporting is increasingly leading to the under-valuation of a number of the world’s leading insurance companies, according to a new survey by PricewaterhouseCoopers, “Making sense of the numbers”. Interviews with more than 40 investment professionals across Europe, the
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. Chamber of Commerce president Manthos Mavrommatis must feel like an alien right now – wherever he goes he will be stared at with piercing eyes, almost like a common criminal. And the reason is that he called for the government to stop all new hirings in the civil service and freeze pay rises to
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‘Generics’ saved Cyprus hospitals EUR 70 mln The future of industry in Cyprus is for local companies to find a niche, just as Medochemie has done growing from a small manufacturer in Limassol in the 1970s to become the largest pharmaceuticals company on the island with exports reaching well over 100 mln euros. Of these,
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U.S. producer prices rose faster than expected in November, while a gauge of manufacturing in the New York state unexpectedly fell this month, creating a potential headache for the Federal Reserve. The Labor Department said on Tuesday the seasonally adjusted index for prices paid at the farm and factory gate jumped 1.8 percent, the largest
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