Asian stocks slipped on Monday as the outbreak of swine flu in North America hurt shares of airlines and transport companies while prompting some market players to trim risky positions, hitting currencies like the Australian dollar. Japan's Nikkei average bucked the trend and rose 0.8 percent as drugmakers such as Chugai Pharmaceutical on an expected
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By Mark Bendeich Australia has thrown out the welcome mat to Chinese investment, but some recent decisions suggest that a genuinely warm welcome is still far from assured. Investment experts argue that Australia's 34-year-old foreign investment regime remains murky and sometimes unpredictable, despite government claims to the contrary, and say the whole process can become
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The Board of Directors of Hellenic Bank Public Company (HB) decided to announce its intention to submit a public offer to the shareholders of Athena Cyprus Public Company (ATH) for the acquisition of up to 100% of the share capital of Athena. The consideration that will be offered is 1 share of Hellenic Bank for
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Cyprus’s political parties commemorated the 94th Anniversary of the Armenian genocide by the Turks by issuing statements of support for the Armenian people. Cyprus is among the first nations to have recognised the Armenian genocide by the Turks and is one of the key supporters of Armenia in the EU. Armenians around the world mark
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The Central Bank of Cyprus announced the issue, on behalf of the Government, of new 1.50% Government Treasury Bills with a 35-week duration. The issue will be EUR1 bln and the Bills will be sold by tender only to interested credit institutions. The tender will take place on 27.4.2009 and the issue date will be
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French President Nicolas Sarkozy on Friday unveiled a plan to spend more than a billion euros on youth job schemes to counter soaring unemployment among people under 25. Just days before France's spring protest season gets into full swing, Sarkozy sought to send a positive signal to a generation that fears being excluded from the
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German business joined the U.S. government on Friday in offering the slimmest of hopes that the global economic crisis might ease, but Britain and Spain showed that millions of people still face huge hardship. U.S. Treasury Secretary Timothy Geithner said the downturn showed signs of abating while the Ifo gauge of business sentiment in Germany,
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World stocks and the euro rose on Friday after better-than-expected Ford Motor results and an upbeat key German corporate sentiment survey, while disappointing UK growth data knocked sterling. Ford posted a smaller-than-expected first-quarter loss, saying it was on track to at least break-even in 2011 and did not expect to seek U.S. government loans. U.S.
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Government Spokesman Stephanos Stephanou has stressed that no decision has been taken and nothing has been announced with regard to Turkey’s unhindered EU course, in view of the assessment Brussels with make later this year about Ankara’s compliance with its EU obligations. The Spokesman dismissed criticism that the government has given the green light to
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Minister of Finance Charilaos Stavrakis said on Friday that Cyprus is expected to have the highest and only positive growth rate in Europe in the year 2009. Commenting the latest projections of the International Monetary Fund (IMF) that Cyprus' growth rate is expected to be 0.3% in the year 2009, Stavrakis said that according to
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