U.S. President Barack Obama said on Tuesday that a new financial regulation bill introduced by fellow Democrats was urgent and crucial to prevent excessive risk-taking by big financial firms. "We cannot meet these tests with a set of small changes at the margin," Obama said in a letter to Barney Frank, chairman of the House
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Global consumer confidence is rebounding, and in the United States has risen for the first time since 2007, amid signs the world economy is picking up although spending is still restrained, a survey showed on Wednesday. Confidence was highest in India, followed by Indonesia and Norway, and was weakest in Japan, Latvia, Portugal and South
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Asian shares fell on Wednesday after a dip in U.S. consumer confidence revived worries about the pace of economic recovery, while the Australian dollar hit a two-week low as inflation data pared bets on an aggressive rate rise. U.S. equity futures were down 0.1 percent and European shares were also set to dip, with financial
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The latest data from the Statistical Service show that there was a steep decline in motor vehicle registrations in the first nine months of 2009. Total registrations of motor vehicles during the first nine months of 2009 decreased by 25.7% to 40,024 from 53,877 vehicles in the same period of 2008. Private saloon cars decreased
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Outbound tourism from Cyprus dropped for the fifth straight month in September. On the basis of the results of the Passengers Survey, 103,286 residents of Cyprus returned from a trip abroad in September 2009, a fall of 6.3% compared with the 110,199 recorded in the corresponding month of 2008. In September 2009 there was a
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Revenue from tourism in Cyprus fell by 19.1% over the year earlier to EUR 200.2 mln in September, compared with EUR 247.4 mln in September 2008. Tourism arrivals in the same month were down 9.6%. For the period January – September 2009 revenue from tourism is estimated at EUR 1,233.3 mln, a fall of 16.1%
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The fourth section of the European Court of Human Rights issued today its decisions on two cases Greek Cypriots brought against Turkey, condemning Ankara of violation of the right to life, as enshrined in the European Convention on Human rights. The first case, concerning the application of Kallis and Androulla Panayi against Turkey, the Court
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The Board of Directors of the Cyprus Securities and Exchange Commission (CySEC) has imposed multiple administrative fines on a number of companies for violating the Transparency Requirements Law 2007 (N.190(I)/2007) with regard to the publication of the companies’ six-month report for 2008: 1. The imposition of an administrative fine of EUR 5,000 on Leda Investment
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The Cyprus Securities and Exchange Commission (CySEC) decided to impose an administrative fine of EUR 80,000 on Aspis Holdings Public CO for acting in violation of article 13(1) of the Public Offering Law 2007 since it failed to comply with the obligation for the submission of a public offer for 100% control of ADHP Holdings
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U.S. consumer confidence deteriorated sharply in October as the worst job market in a quarter century heightened concerns about the future, more than outweighing modest improvements in the housing sector. Despite the stability in house prices, which saw a fourth month of gains in August, a report from The Conference Board suggested Americans are far
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