New York Life Insurance Company, which sold life insurance policies from 1882 until 1914, after searching its records found out that it had received no claims and thus paid no benefits or cash value on some policies referred to as the ''Greek Policies'' and is thus inviting descendants to submit claims. In order to encourage
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High ranking officials from Cyprus, Greece, Italy and Malta have gathered Monday in Nicosia to draft a common paper regarding the challenges they face in the area of migration and asylum. The paper is expected to be adopted at ministerial level, when Interior Ministers from Cyprus, Greece, Italy and Malta will gather in Rome in
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The United States sold a record amount of debt to help fund its efforts to contain the financial crisis and Beijing's fifth rate cut since September failed to boost Chinese shares, as gloomy economic and corporate reports showed the world economy was stuck in a deep rut. Oil prices extended their sharp fall to drop
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Business confidence in Cyprus recorded a significant decline in the retail trade sector, while further deterioration is expected in the services and construction sectors according to a survey performed by the Economics Research Centre of the University of Cyprus in December 2008. The December Economic Index fell to 69.2 units, 8.4 units lower compared to
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Asian stocks fell for a third straight session on Tuesday as a continued retreat in oil prices below $40 a barrel hit resource-related shares, while auto makers slumped after Toyota's bleak assessment of the near-term future. The uncertain economic outlook continues to bolster low-yielding but safer government bonds, as evidenced by the record $38 billion
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Industrial turnover in Cyprus boomed in September, with the industrial turnover index rising by 17.4% compared with September 2007 to reach 173.8 (base 2000=100). The industrial turnover index comprises mining and quarrying, manufacturing, and electricity, gas and water supply. For manufacturing, the index for September 2008 reached 151.4, recording an increase of 11.2% over September
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Building permits in Cyprus defied expectations again in October, rising in number, value and area terms for the second straight month, despite reports of a slowdown in demand. The Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration offices during October 2008 stood at 844, compared
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Revenue from tourism rose for the first time in five months in November, rising by 6.8% to reach EUR 72.4 mln, compared with EUR 67.8 million in the same month of 2007, according to the latest figures from the Passenger Survey. Tourism arrivals also rose for the first time in five months, increasing by 3.8%
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By Burton Frierson For years, the Federal Reserve has been fighting the "silent killer" known as inflation, but the emergence of an even more destructive economic threat, deflation, has made its former adversary a preferred foe. The threat of a spiral down in prices, wages and economic activity inspired an unprecedented response last week from
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Global shares weakened on Monday and the dollar fell broadly, weighed by signs of a deepening recession in Japan and the euro zone and concerns about the banking sector around the world. China's interest rate cut — the fifth move since September — failed to boost stocks as data showed the deepest plunge on record
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