Flagstone Reassurance Suisse SA Limited announced that it has proceeded with a squeeze out for the acquisition of the total issued shares of Alliance International Reinsurance Public Company Limited (ALL). On August 13, 2008, Flagstone Reassurance Suisse SA submitted a Public Offer for the acquisition of up to 100% of the issued share capital of
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The White House and congressional Democrats on Tuesday night reached an agreement in principle on a $15 billion proposal for bailing out U.S. automakers, officials said. A Bush administration official and a Democratic leadership aide said the accord covered key points but final issues needed to resolved and put in writing. Democrats have arranged to
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Asian stocks rallied more than 3 percent to a one-month high on Wednesday on hopes governments worldwide will help out ailing industries and implement stimulus measures as they fight back against a deepening economic crisis. The White House and U.S. Congressional Democrats reached a tentative agreement on a bailout for beleaguered U.S. auto makers, sending
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A general strike shut down Greece on Wednesday, grounding flights, closing banks and schools and restricting hospital services in action that piled pressure on a conservative government hit by the worst riots in decades. Workers chanting anti-government slogans gathered in central Athens before a rally called by Greece's two main union federations against economic policy.
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The trade deficit in Cyprus widened to EUR 4,727.4 mln in January-September 2008 , compared with EUR 3,827.7 mln in January-September 2007. Total imports/arrivals amounted to EUR 5,601.5 mln in January-September, compared with EUR 4,646.4 mln in January-September 2007, a rise of 20.6%. Total imports cover imports from third countries and arrivals from other EU
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The economic recession gripping Britain is likely to be as long and deep as the previous three major post-war downturns, Bank of England (BoE) policymaker Andrew Sentance said on Tuesday. Speaking at a monetary policy and markets conference in London, Sentance said the BoE remained focused on countering the economic fallout from the global financial
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European Union leaders must show U.S. President-elect Barack Obama they are serious about tackling economic slowdown and climate change by agreeing firm action on both this week, the bloc's executive said on Tuesday. European Commission President Jose Barroso said a two-day summit in Brussels starting on Thursday was the most important in years, with potential
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OPEC needs to make a large cut in supplies at a meeting next week, its third reduction since September, to prevent further falls in oil prices as world demand slumps due to slowing economies. The 12-member OPEC should cut output by at least 1 million barrels per day (bpd) at the Dec. 17 meeting, OPEC
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The Qatar Central Bank and the Central Bank of Cyprus, expressing their mutual interest and willingness in establishing and promoting bilateral ties in the domain of supervision of credit institutions, signed last month a Memorandum of Understanding. The Qatar Central Bank is the competent authority for the licensing and supervision of credit institutions operating in
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World shares ticked higher on Tuesday, encouraged by higher U.S. stock futures which indicated Wall Street could add to the previous day's strong gains, and an unexpected rise in a German economic sentiment index. A day after U.S. stock rallied to their highest level in a month, the focus was also on U.S. automakers as
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