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
More
Britain's economy shrank more at its sharpest rate in 30 years in the first three months of 2009, official data showed on Friday, suggesting the recession may be deeper than feared. The Office for National Statistics said gross domestic product fell 1.9 percent on the quarter in the first three months of this year, the
More
Spanish unemployment soared to 4 million in the first quarter, almost doubling in a year as the recession destroys jobs more quickly than anywhere else in Europe, official data showed on Friday. The unemployment rate of 17.4 percent announced by the National Statistics Institute, up from 13.9 percent a quarter earlier and already higher than
More
The CSE council announced the listing of Libra Holidays Group Plc [LHG] warrants, which were allocated to the ratio of 1 warrant for every 5 shares to the shareholders registered as at April 3, 2009. Specifically, the listing concerns 37,388,598 Warrants and each warrant exercised with an exercise price of EUR0.25 will be converted into
More
By Mary Milliken Democrats in Congress worked on Thursday to win over U.S. lawmakers skeptical of climate change legislation, while climate leader California took another major step with low-carbon rules on fuels that could be copied nationwide. The two moves signaled growing political momentum behind efforts to curb greenhouse gases, which President Barack Obama, a
More
By Dan Whitcomb California's Riverside County has been one of the most punished areas in the U.S. housing crash and now local leaders are among the first in the nation with a program to buy foreclosed homes and sell them back to young families. The city of Riverside is using money recently made available by
More
British Prime Minister Gordon Brown has fallen further behind the opposition Conservatives to trail by 18 percentage points after his government announced a record budget deficit, an opinion poll showed on Friday. If the result was repeated at the next election, due by June 2010, the Conservatives would beat Brown's Labour Party by a landslide
More
Bankers' bonuses should reflect a company's performance over time and severance pay must not reward failure, according to non-binding draft guidelines drawn up by the European Union's executive body. The European Commission is set to adopt the guidelines on April 29 as part of its response to the financial crisis which has sparked outrage in
More
Asian stocks edged up on Friday, as financials gained on hopes that credit fears have eased, although the yen drifted higher with investors cautious until more details emerge on the U.S. Treasury's bank stress tests. The MSCI index of Asia Pacific shares outside Japan was nearly unchanged this week after six consecutive weeks of gains,
More
The global economic downturn has recently shown signs of abating, U.S. Treasury Secretary Timothy Geithner said on Friday, and South Korea seemed to back that view by narrowly avoiding recession in the first quarter. But there was enough evidence that the road to recovery from the world's worst economic slump in six decades would be
More