President of the Republic of Cyprus Demetris Christofias leaves for Qatar Tuesday afternoon for an official visit, heading a multi-member delegation. Accompanied by First Lady Elsi Christofia, the President will be chairing a delegation which includes Foreign Minister Markos Kyprianou, Finance Minister Charilaos Stavrakis, Commerce, Industry and Tourism Minister Antonis Pashalides, Government Spokesman Stephanos Stephanou
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Hellenic Bank Public Company Ltd announces that it secured a license for the conduct of banking operations in Russia, which has been issued by the Central Bank of Russia. The licence was granted after the registration of the Group’s subsidiary in the Russian central registry and the payment of the capital. The actual commencement of
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Oil eased to around $54 a barrel on Tuesday pressured by a stronger dollar and forecasts that U.S. crude inventories probably rose from their highest level in almost two decades. The pullback came a day after a series of positive economic indicators lifted oil to $54.64 in post-settlement trade, two cents short of its 2009
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The decline in activity in Britain's construction sector slowed markedly in April, a survey showed on Tuesday, helped by improvements in the housing, commercial and civil engineering sectors. The Chartered Institute of Purchasing and Supply/Markit construction PMI index rose to 38.1 in April from 30.9 in March. That was the highest in seven months, but
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World stocks hit a fresh four-month high on Tuesday while government bonds steadied after signs of improvement in the U.S. housing sector and increasing optimism about banks triggered a rally on Wall Street. The benchmark MSCI world equity index is now in positive territory for the year. The latest rally stemmed in part from Monday's
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Britain's top share index rose 2.2 percent in early trade on Tuesday to touch a near four-month high, taking its cue from a rally in the U.S. markets with heavyweight commodity-related stocks and banks leading the way. By 0729 GMT, the FTSE 100 was up 93.85 points at 4,337.07, catching up with gains from its
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Asian stocks rose to fresh seven-month highs on Tuesday as optimistic comments from central bankers bolstered confidence that the worst of the global economic downturn may have passed, offsetting anxiety about U.S. banks and their capital needs. European shares looked poised to follow the Asian advance and play catch up with Monday's big U.S. rally,
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Switzerland's largest bank, UBS, confirmed a first-quarter net loss of 2 billion Swiss francs ($1.76 billion) on Tuesday on the back of yet more writedowns, as client withdrawals continued, and said it remained cautious. UBS said losses were driven by writedowns on risk positions, in particular 1.9 billion francs on monolines, and by losses at
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Research in Motion Ltd's BlackBerry Curve moved past Apple Inc's iPhone in the first quarter to become the best-selling consumer smartphone in the U.S., research group NPD said on Monday. RIM, which already dominates the corporate smartphone market in the United States, also had three of the top five best-selling consumer smartphones in the period,
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The European Commission (EC) anticipates that in view of the ongoing global crisis, economic growth in Cyprus is expected to slow significantly in 2009 but still remain in positive territory. Cyprus’ GDP growth is expected at 0.3% and 0.7% in 2009 and 2010 respectively. Domestic demand should continue to drive growth, whilst tight financial conditions
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