U.S. Rep. Barney Frank, chairman of the House of Representatives Financial Services Committee, said on Tuesday he would introduce a bill next week to overturn a three-year-old U.S. ban on Internet gambling. The legislation, likely to be opposed by anti-gambling Republicans, would overturn a law imposed during the Bush administration that has hurt U.S. trade
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Investors looked to U.S. GDP data and the Federal Reserve later on Wednesday for signs of recovery in the world's biggest economy, but concerns that U.S. banks may need more capital dented hopes the financial system was stabilising. President Barack Obama asked Congress for $1.5 billion to fund the U.S. response to swine flu, as
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Daniel Bouton, the chairman of Societe Generale whose reputation was hit by a trading scandal at the bank, said on Wednesday he would resign in the wake of repeated criticism over his performance. "I have decided to put an end to my mandate as chairman of the board of directors of Societe Generale as of
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President Barack Obama inherited a U.S. economy in freefall when he took office in January and his top priority is restoring it to health. While many Americans blame former President George W. Bush for the economic crisis, they expect Obama to fix it. The issue has dominated Obama's agenda for his first 100 days in
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President Barack Obama is fond of saying he has a lot on his plate as he wrestles with the worst economic crisis in decades, but arguably it is his ambitious foreign policy agenda that marks him as a glutton. Obama has ordered the closure of the U.S. prison for terrorism suspects at Guantanamo Bay, appointed
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The five permanent member states of the UN Security Council are close to an agreement regarding the presidential statement to be issued Thursday after the conclusion of a briefing on the Cyprus negotiations by UNSG’s Special Advisor for Cyprus Alexander Downer. The P5 continued last night their consultations regarding the content of the presidential statement.
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Hotel room occupancy dropped by about 20 percent in the Athens region in the first quarter of 2009, pointing to a bad year and job losses for a sector key to Greece's economy, the Attica Hotel Association said on Tuesday. Tourism accounts for nearly a fifth of Greece's GDP and employs one in five of
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Minister of Finance Charilaos Stavrakis said on Tuesday that the agreement to avoid double taxation, signed between Cyprus and the Czech Republic, would give many motives to Czech businesspeople to invest in Cyprus and Cypriot or foreign investors to invest in the Czech Republic through Cyprus. The agreement was signed on Tuesday by Stavrakis and
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The government of Cyprus has welcomed the Judgment by the Court of Justice of the European Communities on Apostolides vs Orams case. Government Spokesman Stephanos Stephanou said that the Court of Justice of the European Communities, by implementing the European Law, with its Judgment on the Orams case, has defended the property right of the
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Minister of Commerce, Industry and Tourism Antonis Paschalides met on Tuesday with Ambassador of Kazakhstan in Cypurs Galym Orazbakov, with whom he reviewed the good relations between the two countries and discussed the general consequences of the global financial crisis on the economies of Cyprus and Kazakhstan, as well as various issues concerning the Ministry
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