Bank stress tests should be repeated if the U.S. unemployment rate rises beyond levels assumed by regulators in a recent round of examinations that provided relief to markets, according to a report released by a bailout watchdog panel on Tuesday. The Congressional Oversight Panel said in the report that the stress tests should also be
More
Asian shares fell on Tuesday for a second consecutive session as investors worried that a recent rally may be overdone, though oil prices extended gains ahead of data this week expected to show a fall in U.S. crude inventories. The euro edged higher against the dollar, recovering from falls on Monday when Standard & Poor's
More
The medium-term credit outlook for the Azerbaijan banking system is negative, reflecting recent developments in the Azerbaijani banking sector, Moody's Investors Service said in a new Banking System Outlook. The outlook takes into account Moody's concerns that the deceleration in Azerbaijan's economic growth, the weakening operating environment coupled with funding constraints are likely to adversely
More
Moody's Investors Service placed the ratings of two Georgian banks, Bank of Georgia and TBC Bank, on review for possible downgrade on Monday. The rating action reflects a review of the stresses arising from the ongoing global economic and credit crisis, the potential impact of the civil unrest seen in Georgia in recent months and
More
Two members of the European parliament from Cyprus retained their seats, as two women were elected MEPs for the first time and the socialists finally got a seat. The opposition Democratic Rally (DISY) received 109,209 votes or 35.65% and declared itself the outright winner of the elections, while the ruling communist AKEL got 106,922 or
More
— Exit polls at 8pm, Christofias-Clerides-Vassiliou to vote early — Just over 526,000 people are registered to vote in the European Parliament elections in Cyprus on Saturday that will cost the taxpayer about 5 mln euros, up from the initial estimate of 4.5 mln, due to the addition of overseas voting centres. The number of
More
. The absence of a clear-cut national policy on tourism has proven once again that the Minister of Trade and Tourism, as well as the state tourism board, are powerless and cannot react to problems that arise, such as the issue of jurisdiction over the sinking of a boat near Paralimni in order to develop
More
. BY FIONA MULLEN The Cyprus economy has been undergoing a silent transformation over the past few years as the relative importance of the tourism sector declines and the relative importance of the business sector increases. In 2008, balance-of-payments income from travel (mainly tourism revenue) amounted EUR 1.9 billion or 11% of GDP, down from
More
. BY APOSTOLOS CHARALAMBOUS The psychology of the public as regards buying property has grown more positive during the last few weeks. Today, people are beginning to seek out property, specifically in the cities and mainly for the purpose of ownership-occupancy. This is a favourable sign that is expected to slowly create new mobility in
More
BRA… BRA…. BRA…. As a less than worldly-wise lad in my early teenage years, a more sophisticated school friend enlightened me as to the differences in meaning between “Brassiere” and “Brazier”. We all know, of course, what is contained in the first, and I dare say many are aware that the second contains hot coals
More