The Cyprus government will distribute euro converter calculators to every household in Cyprus by November as part of the euro-awareness campaign ahead of the full adoption of the euro on January 1, 2008. Finance Minister Michalis Sarris said the euro-awareness plan is continuing as planned with emphasis now placed on informing rural areas about the

Moody’s outlook on the Ukrainian banking system reflects the combination of two key factors: its improving financial fundamentals and its significant structural weaknesses. Although the banking sector has achieved substantial progress in the past few years and opportunities for further development are quite favourable, systemic risks for privately-owned Ukrainian banks – particularly deriving from rapid

As world growth continues to slow, central banks in Europe face a difficult arbitrage between growth risks and inflation risks, says a report titled “European Economic Forecast: Europe’s Central Banks Weigh Inflation Against The Fallout From The U.S. Slowdown” published by Standard & Poor’s. “In setting monetary policy across Europe, the region’s central banks continue

Standard & Poor’s Ratings Services said that its ratings and outlook on Credit Suisse Group (A+/Positive/A-1), Credit Suisse (AA-/Positive/A-1+), and related entities were unaffected by the announcement of weaker earnings in the third quarter. Credit Suisse Group’s pretax earnings of Swiss francs (CHF) 1.3 billion for the quarter were down 69% year on year and

Inflation reaches 3% in October   The consumer price inflation rate rose again in October, hitting 3% year on year for the first time in over a year, while the movement in clothes prices raises questions about profiteering by clothing retailers. Compared with the previous month, the overall consumer price index rose by 0.9% to

Ocean Tankers Holdings, the only public company quoted in the ‘Shipping’ sector of the Cyprus Stock Exchange, is planning a USD 45 mln rights issue to part fund the acquisition of eight new oil tankers. Chairman and CEO Michael Ioannides said that an investor road-show is underway for the issue, with a subscription period of

Cyprus ranks 55th among 131 countries according to the overall ranking in The Global Competitiveness Report 2007-2008, released by the World Economic Forum.The United States tops the overall ranking. Switzerland is in second position followed by Denmark, Sweden, Germany, Finland and Singapore, respectively. Chile is the highest ranked country in Latin America, followed by Mexico

Cyprus will have to intensify efforts to improve its competitiveness globally and within Europe in particular, after it joins the eurozone in January next year, Finance Minister Michalis Sarris said.He was commenting on the Global Competitiveness Report 2007-2008, released by the World Economic Forum, according to which Cyprus ranks 55th among 131 countries. According to

Vision International People Group Public Limited has applied to the CSE requesting to shift out of the CSE Main Market to the Alternative Market, in line and according to a resolution passed and approved at its most recent Annual General Meeting on October 2, 2007. The Company would like to emphasize that irrespective of the