Archive for the ‘Cyprus Financial News’ Category

The European Union's executive recommended on Wednesday launching accession talks with Iceland, the start of a process that Reykjavik hopes will lead to EU membership by 2012. The European Commission said Iceland met many of the EU criteria on democracy and human rights but called in a statement Publication: Financial Mirror (Cyprus) Full story

The Board of Directors of Interfund Investments Plc (INF) has decided to commence procedures to reduce the Company's share capital by 708.556 shares that are currently held by the Company under its share buyback programme. The Board of Directors of Interfund Investments also decided to propose to Publication: Financial Mirror (Cyprus) Full story

The euro is in a difficult position for the first time but will weather the storm, German Chancellor Angela Merkel said in a newspaper interview published on Wednesday. It was dangerous that some countries were being speculated against, she said, adding that debt-ridden euro zone members such as Publication: Financial Mirror (Cyprus) Full story

Minister of Commerce, Industry and Tourism Antonis Paschalides said here today that after adopting the Lisbon Treaty, the EU can undertake action in order to support tourism, adding that the EU has the competency to support, coordinate and complement moves by the member states. Addressing a public Publication: Financial Mirror (Cyprus) Full story

Cyprus President Christofias has said he exchanged views with Turkish Cypriot leader Mehmet Ali Talat on the chapter of economy, during a new meeting in the framework of the UN-led direct negotiations for an agreed settlement to the Cyprus problem which resumed on Wednesday. ''The discussion on the Publication: Financial Mirror (Cyprus) Full story

2010 should be a year of improvement for the Middle East as a sluggish global recovery gains momentum and investor confidence rebuilds, Moody's Investors Service predicted in its first annual "Middle East Sovereign Outlook" report. Indeed, Moody's only sovereign rating actions in the region so far Publication: Financial Mirror (Cyprus) Full story

The Spanish savings bank sector has been significantly weakened by the severe crisis in the country's real estate market and the overall weaker operating environment. In this context, there is an increased impetus to restructure the sector by means of mergers or other forms of integrations between Publication: Financial Mirror (Cyprus) Full story

Is it time to add dairy products to the list? The Turkish Cypriot Chamber of Commerce is in Brussels this week for discussions with European Commission officials about the Green Line regulation and other economy-related issues. Full story

The European Commission has announced that a total of 188 Turkish Cypriot farmers and rural enterprises have been awarded EU funding to help bring their operation in line with EU standards and best practices. Full story

Muskita Aluminium Industries Plc released its preliminary 2009 results posting a 25% Year-on-Year decrease in revenue to EUR47.5mln compared to EUR63.8mln in 2008, but managed to maintain a marginal increase in profits. Group revenue was pressured mainly due to the deterioration of exports and the Publication: Financial Mirror (Cyprus) Full story