The Cyprus Securities and Exchange Commission approved Hellenic Bank’s Public Offer made to acquire  up to 100% of the share capital of ‘Athena Cyprus Pcl’ (ATH). The acceptance period commences on 16 July and closes on 8 September 2009. The consideration on offer is one (1) HB share for every three (3) ATH shares. HB and

Cypriot Minister of Employment and Social Insurance Sotiroulla Charalambous has called for targeted action in response to the strains on the labour market, as a result of the economic downturn. Speaking during an informal meeting of EU Ministers of Employment and Social Affairs, in Jonkoping, Sweden, Charalambous said the biggest challenge is drafting and implementing

 Thirty four new cases of H1N1 flu have been confirmed in Cyprus during the past 24 hours, increasing the total number of confirmed cases to 201, the Health Ministry announced on Thursday. According to a press release, seventeen of the new cases concern Cypriots. Sixty-seven persons with flu symptoms were subjected to laboratory tests on

British lender Nationwide has brought back the 125 percent home loan, seen as a symbol of the reckless lending that contributed to the banking crisis, but said eligibility for the deal would be strictly limited. Mutually-owned Nationwide, the UK's third-biggest mortgage lender, said the loan is available only to existing customers with good credit history

The number of U.S. workers filing new claims for jobless benefits fell sharply last week but the data was distorted by an unusual pattern of layoffs in the automotive industry, which amplified the decline. The Labor Department said on Thursday that initial claims for state unemployment insurance fell 52,000, the largest drop since December, to

Oil rose by more than $1 on Thursday to trade above $61 a barrel, halting a six-session losing streak which has seen prices decline by 15 percent on concerns about the timing of any economic recovery. Prices hit a seven-week low just above $60 a barrel the previous day on bearish U.S. oil data, which

Germany said on Thursday it may have already emerged from recession and Britain's central bank decided against expanding a scheme to pump money into the economy, despite concerns the global recovery remains fragile. Sterling jumped versus the dollar and UK gilt futures dropped sharply on the surprise decision by the Bank of England, which had

The Bank of England surprised markets on Thursday by keeping its quantitative easing programme unchanged at 125 billion pounds, boosting speculation that it may soon finish its unprecedented asset-buying scheme. But analysts said the central bank tends to make most big decisions in months when it publishes new quarterly economic forecasts, so it may still