The new members of the Council of Ministers were sworn in on Friday before President Demetris Christofias, apart from Minister of Foreign Affairs Marcos Kyprianou, who will be sworn in on Monday Morning.Kyprianou has resigned from the post of European Commissioner and his resignation will apply as soon as his successor is appointed.The other new
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New Minister of Finance Charilaos Stavrakis said on Friday that all investors, either Cypriot or foreign, should feel confident that the government will continue implementing the mixed economy model, which has offered much to Cyprus, creating a more robust and competitive economy on the one hand, and a fairer society on the other hand.Speaking after
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By Darren Ennis BRUSSELS (Reuters) – Cyprus’s new foreign minister said on Thursday he intended to capitalise on a “new momentum” to unify the ethnically divided island and believed there was a real chance he could broker a long-term agreement. Markos Kyprianou resigned as the European Union’s health chief on Thursday to return to his
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By Natsuko Waki LONDON, Feb 29 (Reuters) – Stocks fell and the dollar tumbled to historic lows on Friday as the Federal Reserve’s warning on the health of domestic banks raised concerns over a U.S. recession, driving oil and safe-haven gold to record peaks. Fed Chairman Ben Bernanke said on Thursday some small U.S. banks
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Germany cracks down on tax dodgers in Liechtenstein  The calm with which officials have been reacting to news that Russia, Ukraine and India have either placed Cyprus on their black list or wish to curtail the tax avoidance advantages that Cyprus-based companies enjoy, is seen as an attempt to avoid confrontation with major EU
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Limassol will be welcoming King Carnival with a colourful and festive display on Thursday, marking the beginning of carnival festivities, which will last till March 9. Limassol Mayor Andreas Christou said this year there would be a revival of the live King Carnival, who will enter the town at 7pm accompanied by the traditional serenaders,
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Aegon, one of the world’s largest life insurance and pension groups, has entered into an agreement to acquire 100% of Ankara Emeklilik Anonim Åžirketi (Ankara Emeklilik), a Turkish life insurance and pension provider, from Polis Bakim ve Yardim Sandigi. The move is Aegon’s first step in the fast-growing Turkish life insurance and pension market. The
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Market prospects for the Arabian Gulf property sector are broadly positive, contributing to an overall expectation of ratings stability, although different markets are at different stages of development, Moody’s Investors Service said in a new Industry Outlook report. Despite a number of sector risks, the rating agency anticipates sustained real estate market growth in the
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While the insurance markets of the Middle East remain relatively small, rates of growth of insurance premiums in the region have been far in excess of those registered globally in recent years. This trend is set to endure, Moody’s Investors Service said in a new Special Comment. “The insurance markets of the Middle East remain
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BERLIN, (Reuters) – Monaco’s Prince Albert II defended the principality’s banking sector on Wednesday ahead of talks with German Chancellor Angela Merkel that take place amid pressure for tax havens to crack down on financial crime. Germany launched a tax-dodging probe earlier this month that has centred on Liechtenstein, which like Monaco and Andorra is
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