The Central Bank of Cyprus announces the issue of a silver collector coin in proof condition, with a nominal value of EUR5 and year of issue 2008. The issue is to commemorate the accession of Cyprus to the euro area. The coin depicts Cyprus connected with a ring to Europe, οn a transfigurated map. The
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The Founding General Assembly Meeting of the Cyprus-Czech Republic Business Association took place in Nicosia, with the participation of entrepreneurs. The Cyprus Chamber of Commerce and Industry said the establishment of the Association took place in the framework of the policy of the chamber to promote bilateral relations between Cyprus and other countries with a
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Even as markets tumbled around them, Asian and European leaders expressed confidence on Friday that they could overcome the deepest global financial crisis in more than 70 years. Opening a two-day Asia-Europe Meeting (ASEM) of 27 EU member states and 16 Asian countries, President Hu Jintao urged a rapid response to the turmoil, which he
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The world financial crisis may be hurting the West but Iranian officials should not revel in the woes of their opponents because Tehran is also being hit by falling oil prices, a former president said on Friday. Several officials, including President Mahmoud Ahmadinejad, have in particular blamed arch-foe Washington for the crisis saying it was
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Russia's stock market lost over a tenth of its value on Friday, hitting its lowest levels since late 2004 as a further oil price fall cast fresh doubts over Russia's ability to avoid a recession and defend its currency. The rouble slid a further 23 kopecks to 27.23 rouble per dollar, touching a two-year low,
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Global stock markets plunged on Friday and currency markets were hit by a flight from risk as economic decline and corporate damage gripped investors. Wall Street stock index futures, pointing to large U.S. losses later, were frozen on and off as they fell as much as rules allow in one day. European shares lost 8
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An emergency OPEC meeting on Friday reached swift agreement to chop production by 1.5 million barrels per day (bpd) as a first step towards halting a deep oil price slide. International benchmark U.S. crude has slumped by well over 50 percent from a record high of $147.27 hit in July. On Friday, it fell again
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Britain's top share index tumbled 7 percent, touching its lowest in 5-1/2 years by midday on Friday, headed by energy stocks as weak growth data further deepened the gloom surrounding the UK economy. By 1043 GMT the FTSE 100 had fallen 285.14 points to 3,802.69, after touching its lowest level since April 2003. The index
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British finance minister Alistair Darling said on Friday he was confident the British economy would get through a "difficult period" after data showed the economy shrunk more than expected in the third quarter. Darling also said it would be "disappointing" if OPEC cut oil production. The oil exporters' group decided at an emergency session to
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Britain's economy shrank, China said the outlook was grim and companies from Japan to France were punished on Friday as a downturn born of the worst financial crisis in 80 years took root. Separate figures from the euro zone showed the 15-nation currency bloc was already in recession, analysts said. Markets nosedived again. European shares
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