World stocks rose on Tuesday with Japan climbing sharply as the government moved to rescue capital-strapped companies and European shares boosted by a positive German sentiment report. The dollar was generally lower as traders reversed some safety plays. Britain's battered pound gained around 1.8 percent on the greenback. Government intervention was a key theme for
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The Japanese government launched on Tuesday a $16.7 billion scheme to buy shares in companies whose future has been threatened by the financial crisis, in a new move to ease the credit crunch that has starved key industries of cash. Japan's central bank is already buying corporate debt to help firms raise funds, and the
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The Cyprus question is a priority for the US Secretary of State Hillary Clinton, US President Barack Obama and a priority for the international community, US State Department Acting Spokesman Robert Wood has told his daily briefing. Invited to comment on UN Special Envoy for Cyprus Alexander Downer's optimism that ''there is a real possibility
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Japan's ruling and opposition parties bickered over a $5.4 billion extra budget to fund government stimulus plans on Tuesday, in another sign of deadlock in parliament amid a deepening recession. Prime Minister Taro Aso, his approval rating below 20 percent, wants to quickly enact budget bills, but faces a divided parliament. He had hoped to
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Timothy Geithner won confirmation as U.S. Treasury secretary on Monday and vowed to act quickly to protect the U.S. economy from the worst financial crisis since the Great Depression. "We are at a moment of maximum challenge for our economy and our country," Geithner said as he was sworn into office shortly after the Senate
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Asian stocks rose on Tuesday, with Japan's benchmark index jumping more than 3 percent following a gain in U.S. markets and as exporters rebounded on a weaker yen. The yen extended losses against the euro and the dollar after Japan announced it would offer public funds to firms whose capital has been hurt by the
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The interest for the quarter 20/11/2008 -19/02/2009 on the floating rate Capital Securities Series B issued by Bank of Cyprus Public Company Ltd will be paid on 20th February 2009. The record date for those eligible to the interest payment is 11th February 2009, that is holders of the above mentioned Capital Securities who will
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Turkish actor Attila Olgac’s confession that he killed ten Greek Cypriots during the 1974 Turkish invasion of Cyprus can be used to establish the fate of missing persons, Presidential Commissioner George Iacovou has stressed. Iacovou was speaking after a meeting convened on Monday at the Presidential Palace to discuss Olgac’s self-confession. Present at the meeting
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President of the Republic Demetris Christofias laid the foundation stone on Monday for the State Theatre of the Cyprus Theatrical Organisation, assuring that culture was a priority for the government. He added that the continuing Turkish occupation of the island's northern third since the 1974 invasion, consumerism, the commercialisation of art, the mass subculture, the
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Cement production in Cyprus rose by a modest 2.2% in 2008 according to the latest figures from the Statistical Service. Total cement production reached 1,913,620, compared with 1,872,531 tonnes in 2007. Total sales of cement, meanwhile, rose by 8.4% to 1,940,286, compared with 1,790,456 in 2007. There were absolutely no exports of cement in 2008,
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