The Board of Directors of Bank of Cyprus decided to pay an interim dividend of EUR0,15 per share. The ex-dividend date is Monday, 24 November 2008, i.e. buy transactions that take place before market close of the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) on November 21, 2008 will be eligible to the
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The Bank of England could deliver its biggest interest rate cut in 15 years on Thursday as fears grow the Britain could be in for a long and painful recession. Faced with mounting evidence that the economy is shrinking fast, financial markets have priced in borrowing costs falling by three-quarters of a percentage point when
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Sebastian Straten is going against the flow. As some Western corporations pack up and mothball projects in Iran under pressure of sanctions, the entrepreneurial Dutchman is preparing for the day when tourists flock to the Islamic state. His guest house business — a joint venture with an Iranian partner which was dreamed up during a
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Asian stocks slumped 7 percent and commmodity-related currencies tumbled on Thursday as more evidence that the U.S. economy is shrinking made investors brace for a potentially deep and prolonged global recession. Major European stock markets were expected to open as much as 3.6 percent lower, according to financial bookmakers, following sharp declines in Asia and
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U.S. President George W. Bush will urge Group of 20 leaders at a Nov. 15 summit on the global economic crisis not to use it as an excuse for erecting trade barriers and scuttling free-market principles, senior Bush administration officials said on Wednesday. "This summit and this process is not about discarding market principles or
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Piraeus Bank, Greece's fourth-largest lender, has agreed to buy 31.3 percent of small rival Proton Bank via a share swap from Proton's major shareholders at a share swap ratio of one of its shares for 8.25 Proton shares. Proton will swap about 19.63 mln of its own shares for about 2.38 mln Piraeus treasury stock.
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Turkey will face a balance of payments problem next year that could snuff out growth if the government does not overcome its reticence to join the queue of emerging countries seeking International Monetary Fund help. Politicians are loath to ask for IMF help before municipal elections next year given the public backlash against the six
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By Jeff Mason (Reuters) Republican John McCain lost Tuesday's presidential election because he could not overcome a hostile economic environment, distance himself from an unpopular president or convince voters he could lead them out of the crisis. As the blame game began, analysts also said McCain's choice of inexperienced Alaska Gov. Sarah Palin as his
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The Vatican returned a small fragment of the Parthenon Marbles to Greece on Wednesday on a one-year loan, fuelling calls for the British Museum to hand back its own priceless sculptures from the ancient temple. The loan of the fragment, one of three in the Vatican Museum's vast collection of antiquities, follows a request for
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The Cyprus government congratulated today Barack Obama, President-elect of the United States of America, expressing hope that he will honour the declarations he has made on Cyprus during the presidential campaign. In statements after a Council of Ministers meeting, Government Spokesman Stefanos Stefanou said that the government notes that Obama is the first African American
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