SFS Group Public Company Ltd (SFS.CY) reported its nine months 2008 results, with profit after tax attributable to shareholders declining by 0.38% Year-on-Year to EUR 18.65 mln from EUR18.72 mln a year ago in the same period. Management maintained its net profit target of EUR 31 mln for the year. Total revenue showed an increase
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End of this year or beginning of 2009 the leaders of the two communities will start discussing the property issue at the ongoing direct negotiations, President Demetris Christofias said after today’s meeting with the Turkish Cypriot leader Mehmet Ali Talat. This issue is not easy, he pointed out, although the principles on which the two
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The number of building permits authorized by the municipal authorities and the district administration offices, during the period January – September 2008, marked a decrease of 10% compared to the corresponding period of 2007. The total value of these permits decreased by 2.7% and the total area was down by 4.8%. The number of dwelling
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Tourist arrivals in Cyprus recorded a decrease of 0.6% in the period January – October 2008 compared with the corresponding period of 2007. According to the latest data published here today by the Statistical Service of Cyprus, for the period January – October 2008, arrivals of tourists reached 2.233.721 compared to 2.247.596 in the same
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U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke came to Capitol Hill on Monday to field questions from leading Democrats on how the $700 billion financial bailout bill is working. "House Democratic leaders today made it clear to Secretary Paulson and Fed Chairman Bernanke that they must take immediate action and do
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A broad economic stimulus bill, which President-elect Barack Obama wants the U.S. Congress to pass promptly, is not likely to be approved by the Senate during its short legislative session this week, a top Senate aide said on Monday. Jim Manley, a spokesman for Senate Democratic Leader Harry Reid of Nevada, said he was hopeful,
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The yen nudged lower against the dollar but was underpinned by risk aversion on Tuesday as Tokyo shares fell following a drop in U.S. stocks on deepening concerns about a global recession. Weak stock markets may prompt more unwinding of carry trades, in which investors borrow the low-yielding yen to buy higher-yielding currencies and assets,
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Asian stocks fell by up to 5 percent on Tuesday as prospects of a deep global recession and the biggest job cut plan in history at Citigroup doused expectations for a financial sector recovery in 2009. Major European stock market futures shed as much as 0.6 percent in early trade, following losses in Asia and
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The latest U.S. effort to get more money flowing to consumers assumes that there are plenty of credit-worthy households eager to borrow and spend. That may not be the case. Rising unemployment and foreclosures are driving more people out of the "prime" credit category, in which banks are still fairly willing to lend. At the
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Citigroup Inc revealed plans to cut 52,000 jobs by early next year in Chief Executive Vikram Pandit's most dramatic move yet to restore profitability and bolster a sagging share price. The cuts, announced Monday, will affect 15 percent of Citigroup's workforce and come on top of 23,000 jobs eliminated between January and September as souring
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