Cyprus has complained to the United Nations, saying a Turkish warship harassed two oil and gas exploration vessels earlier this month. The move is likely to cast a shadow over talks aimed at reunifying Cyprus, an island divided along ethnic lines after Turkey invaded in 1974 and occupied the north. "The two ships were forced,
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The fundamental credit outlook for the Irish banking system is negative, reflecting the increased potential for a further weakening in asset quality, loan volumes and profitability in a domestic economy that is now in recession, Moody's Investors Service said in its new outlook for Ireland. "The Irish economy is now in recession, primarily due to
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The financial sector of the United Arab Emirates cannot remain immune to the global financial crisis, and Moody's Investors Service will continue to monitor the liquidity profile of UAE banks, according to a new report. Moody's said that liquidity in the UAE banking system weakened during the nine months to September as a result of
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Cyprus spent a total of EUR 1.02 bln on expenditure in public and private education for the year 2006 according to figures released by the Statistical Service. The report notes that the current public cost per pupil/student in public schools by level of education was for Pre-school and Pre-primary 4,909 euro, Primary 4,976 euro, Special
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Football fans will be getting a taste of Famagusta, home of Anorthosis football club, before the kick off of the game between Anorthosis and Werder Bremmen, to take place on Wednesday at GSP stadium in Nicosia, for the Champions League. Speaking at a press conference, Famagusta Mayor Alexis Galanos said a grand reception is being
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Charilaos Apostolides Public Ltd (CHAPO) announced that Giorgos Photiou, Board member and shareholder of more than 5%, proceeded with the purchase of 3,415,000 shares of CHAPO against EUR0.14 each by Demetra Investment Public Ltd via an off-floor transaction. As a result, his shareholding in the share capital of Charilaos Apostolides Public Ltd reached 66.48% (from
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Cyprus Permanent Representative to the UN Minas Hadjimichael has said that 2008 was a year of renewed hope for Cyprus, as direct negotiations between President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat began. He also stressed that President Christofias has made it clear that the negotiations will not be easy but they are
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House President Marios Garoyian has stressed that the Republic of Cyprus will continue to claim, without any discount, the right of the refugees to return to their homes. Speaking yesterday to Karmi Refugee Association, Garoyian said that the rights of the people of Cyprus are not negotiable, adding that the Association building which he inaugurated
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Prime Minister Gordon Brown will try to kickstart the stalling British economy on Monday by spending billions of borrowed pounds on tax cuts in a bid to stop a recession turning into a slump. The package, expected to total up to 20 billion pounds ($30 billion), or more than one percent of gross domestic product,
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Emerging markets bank Standard Chartered plans to raise 1.8 billion pounds ($2.7 billion) from a rights issue to boost its capital base and give it flexibility to pursue acquisitions, it said on Monday. The London-based lender said the economic picture had deteriorated this month and, although the bank was performing well, the outlook was unclear.
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