Applications for company registrations in Cyprus fell by 46.6% year-on-year in the first four months of 2009 to 4.907 from 9.189 in the same period a year ago, according to Registrar of Companies data. From the 4.907 applications, the successful registrations amounted to 4.639. (Additional information in the print edition of Financial Mirror)
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Stocks fell at the open on Monday as several major banks announced large common stock offerings to repay government bailout funds and investors took profits following a strong run. Bernanke to speak on financial system after market close The Dow Jones industrial average (.DJI) dropped 91.28 points, or 1.06 percent, to 8,483.37. The Standard &
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Four big U.S. banks on Monday announced large common stock offerings and said they would use proceeds to repay funds received under the government's bank bailout program. U.S. Bancorp (USB.N) plans to sell $2.5 billion of stock, and is also selling $1 billion of debt. Capital One Financial Corp (COF.N) is selling roughly $1.75 billion
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The European Democratic Party (EDP) has issued a Declaration on Cyprus in which it states that the solution of the Cyprus problem should be compatible with the European acquis communautaire and based on European values and principles and human rights and UN resolutions. The Declaration, issued in Bilbao during the EDP Council, urges Turkey to
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The Consumer Price Index for April 2009 has increased by 0,71 units or 0,65% to 110,07 units compared to 109,36 in March 2009, an official press release said here Monday. The reason for the rise is due to the increase in the price of clothing and footwear as well as petroleum products. The price of
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The White House on Monday pushed up its forecast for the U.S. budget deficit for this year by $89 billion, reflecting the recession, a raft of new unemployment claims and corporate bailouts. A fresh estimate of the deficit showed it coming in at $1.84 trillion — representing a massive 12.9 percent of gross domestic product
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The global economy is about to turn the corner, leading central bankers said on Monday, and their cautious optimism was backed by data showing growing signs the economic and financial crisis is abating. China said its efforts to boost economic growth were working and surveys showed business confidence creeping back in other major emerging and
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European shares retreated on Monday from their four-month high, with banks taking most points off the index amid fading optimism about the financial sector. HSBC dropped after releasing a trading update. At 0840 GMT, the FTSEurofirst 300 index of top European shares was down 1.3 percent at 854.30 points after ending 1.7 percent higher on
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Global shares held steady on Monday, working on their third consecutive month of gains, but there were losses in Europe after recent gains and Wall Street looked set for a poor start. HSBC, Europe's biggest bank, said first-quarter profits were "well ahead" of last year, swelled by record results in its investment bank, but would
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HSBC Holdings, Europe's biggest bank, said first-quarter profits were "well ahead" of last year, swelled by record results in its investment bank, but would have been down without accounting gains on its debt. Excluding a $6.6 billion fair value gain on its own debt, first quarter profit was below a year ago, though still "significantly
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