Swedish Foreign Minister Carl Bildt has said that the outcome of the current negotiations on the Cyprus question will be the most important development during the next months. Speaking during the annual conference «Debate on the state of the Union», held at the European Policy Centre in Brussels, Bildt, whose country will take over the
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British High Commissioner Peter Millett announced today the establishment of an English Speaking Union (ESU) branch in Cyprus. Speaking during a press conference, Millet said he was a “bit surprised” that the establishment of a Cyprus’ branch has taken so long, given the importance of the use of English language on the island. Noting that
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European companies must refinance a $3.9 trillion debt mountain over the next three years, casting a dark cloud over the tentative signs of economic recovery in the region, Standard & Poor's said on Thursday. Some of that refinancing risk in Europe may be mitigated by the fact that the bulk of debt due is rated
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World stocks fell towards the previous day's three-week low and oil also slipped on Thursday after investors turned nervous in pushing risky assets further before seeing concrete signs of an economic recovery. UK data showed retail sales fell unexpectedly in May, tempering recent optimism that the global economy is on track for a recovery and
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European stocks were down 0.5 percent in early trade on Thursday, falling for the fifth session in a row led by energy stocks, in spite of steady oil prices, but the drop was limited by rising defensive shares. At 0914 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 842.94
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The Swiss central bank called on Thursday for powers to break up banks deemed "too big to fail", joining London and Washington in demanding regulation to ensure institutions look after themselves in any crisis. Over the nearly two years since defaults on U.S. mortgages triggered a banking crisis that spread across the globe, governments have
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Dow Jones futures rose 0.1 percent and S&P 500 futures also rose 0.1 percent while Nasdaq futures fell 0.2 percent by 0913 GMT, suggesting a mixed start for U.S. stock markets on Thursday. The main focus looked likely to be on the implications for banks and other financial institutions of the U.S. government's extensive proposals
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Turkey’s claims that it can fly over Cyprus’ sovereign air space is an utter deceit, absolutely illegal and a violation of international conventions and international law, President Demetris Christofias stressed here today. Invited to comment on statements by a representative of the Turkish Foreign Ministry that Turkey has legitimate rights and interests in the Eastern
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Cyprus' trade balance presented a deficit of 1.2 billion EUR during the first quarter of 2009, according to data released on Wednesday by Eurostat. The total value of Cyprus' exports reached 200 million EUR, recording a 20% drop compared to the respective period in 2008, while imports were down by 19%, reaching 1.4 billion EUR
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MIG Aviation 3 Limited, a subsidiary of Marfin Investment Group Holdings S.A. of Greece, has signed a firm order for eight Q400 aircraft from Canada’s Bombardier Aerospace, including five Q400 NextGen turboprops. The deal worth US$ 224 mln was signed on the sidelines of the Paris Air Show at Le Bourget on Tuesday and includes
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