Marfin Investment Group Holdings S.A. (MIG) announced that during the second repeat EGM, the proposed share capital increase of EUR5 bln was approved. In light of the current turmoil in the financial markets, shareholders of the Company proposed and approved the Share Capital Increase take place along the following main parameters in order to reflect
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The number of serious offences reported to the police (true cases) in 2006 was 7.917 compared to 7.212 in 2005, according to the Annual Report. “Criminal Statistics” 2006, published by the Statistical Service. Cyprus has a low crime rate by EU standards. The report presents data on crime, based on information provided by the police,
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Japan's Nikkei average rose 5.2 percent on Tuesday, its biggest one-day gain in two weeks, but further gains were limited as investors worried how long euphoria over a Citigroup bailout would last. Mizuho Financial Group and other banks were boosted by the massive Citigroup bailout and subsequent Wall Street rally, but some profit-taking capped gains
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Asian shares rose on Tuesday and so-called safe haven assets such as bonds fell after the U.S. government rescued banking giant Citigroup to prevent further damage to the ailing global financial system. The yen recovered from sharp falls a day earlier and gained against major currencies, but some traders said the Japanese currency could stall
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U.S. Treasury Secretary Henry Paulson plans to announce on Tuesday the formation of a program to increase the availability of auto loans, student loans and credit cards, the Wall Street Journal reported, citing people familiar with the matter. The lending facility, which will be operated by the Federal Reserve, is expected to provide loans to
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The pace of sales of existing homes in the United States fell 3.1 percent in October to a 4.98 million-unit annual rate, while the median home price dropped to its lowest in more than four years, a National Association of Realtors report showed on Monday. Economists polled by Reuters were expecting home resales to set
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Swiss bank UBS is not in urgent need of fresh capital, but may be if it does not make stable profits soon, analysts said as a bail-out of Citigroup showed the financial crisis is far from over. Switzerland's top bank regulator said on Sunday that UBS could need extra state capital on top of a
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By Edmund Blair (Reuters) Iran's government risks a squeeze on spending next year, when President Mahmoud Ahmadinejad is expected to seek re-election, unless oil prices bounce back to around $80 a barrel. Despite the oil windfall it reaped as crude surged to $147 a barrel in July, economists say Iran has not saved enough to
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Oil rose by almost a dollar a barrel on Monday as investors considered the prospect of a further OPEC supply cut and as stock markets rallied following the U.S. government rescue of U.S. bank Citigroup. Venezuela said on Sunday the Organization of the Petroleum Exporting Countries should cut supply further, while Iran made similar remarks
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France and Germany distanced themselves on Monday from a British plan to cut sales taxes in an effort to boost its economy, saying they preferred targeted aid that would encourage investment and help certain industries. But speaking after a joint cabinet meeting, French President Nicolas Sarkozy and German Chancellor Angela Merkel showed no sign of
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