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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Marfin Egnatia have increased their price target on Petrolina (Holdings) Pcl to EUR 0.95 per share after the company posted a strong set of FY07 results with net profit increasing by 59.8% to EUR 12.36 mln. The improved profitability is primarily attributed to the higher volumes sold via PHL’s filing stations, the significant improvement in
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Orphanides Pcl reported a 63% YoY decline in net profit for 2007 to EUR 1.48 mln, with sales and profitability burdened by high renovation and finance costs. Sales came in lower by 2.4% yoy to EUR 139.5mln, despite the higher number of retail outlets operated in FY07. This is attributed to the sub-optimal operation of
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