Moody’s Investors Service has lowered the outlook on Lebanon‘s B3 foreign currency government bond rating to negative from stable due to the ongoing deterioration in the country’s domestic political environment following the resignations of six opposition ministers from the cabinet this month and yesterday’s assassination of the minister of industry. Moody’s believes that the resignations
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Former Laiki Bank Chairman and CEO Kikis Lazarides testified in court on Monday that he did not know of any money — amounting to several billion dollars – that were hidden in secret accounts at the bank during the 1990s when Slobodan Milosevic laundered money to fund his war. Lazarides was called as a witness
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The President of Armenia Robert Kocharian arrives late Wednesday for a three-day state visit to Cyprus, the first since the former Soviet republic gained independence 15 years ago. The visit also coincides with the run-up to Turkey’s EU accession hopes and the obstacles that Ankara is facing, primarily with its denial of the genocide of
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Transparency to return on share registers  The Cyprus Stock Exchange and the data vendors are headed for an open clash following the decision of the CSE Council to offer live prices on a three-month free trial basis in an effort to attract interest from Greek data vendors. Cypriot data vendors who have been channeling
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BP East Mediterranean hosted a regional seminar on safety issues in Cyprus recently that dealt with safety during loading and unloading on to crude tankers and onshore facilities. The three-day seminar, attended by staff from all energy sector companies active in Cyprus, as well as BP Greece, was presented by trainers from BP Shipping who
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Directors must spare time for patients, no breaks at counters  The Ministry of Health has said that all directors of the state hospitals, as well as regional and rural centres, must spare two hours a week for appointments with patients, while there should be no breaks at public service counters and no such station
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In today’s fast-moving business environment, no organization enjoys a guarantee of success or even survival. Business risk exposures are legion. Failure to manage them can severely damage reputation, brand and finances to an extent that may not be survivable. There is no shortage of high profile corporate disasters but even at sub-disaster level poor risk
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What Cypriot politicians love most in order to cover their backs is to blame everything on their opponents – the present government blames the previous administration for all the ills in society and the economy, the opposition says those in power are incompetent, and so on. What Cypriot politicians hate most is when somebody tells
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The experience of the last eight years shows that many euro-area countries have not yet fully adapted to life in a monetary union with a single monetary policy and currency. This is the conclusion of the Commission Communication on “Strengthening the euro area: key policy priorities”, adopted on the occasion of the EU Economy 2006
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The European Armenian Federation has called on Deutsche Bank to return more than USD 20 mln in assets held by the German firm since the Armenian Genocide era. The Federation announced that legal proceeding are under way to seek justice for heirs of those who assets stolen.The European Armenian Federation calls the descendants of Armenian
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