NICOSIA – Former finance minister Michalis Sarris will be appointed  chairman of the board of Marfin Popular Bank, state radio said on Friday.
He is to replace Greek national Andreas Vgenopoulos who resigned in November citing a potential conflict of interest as a major...

 DOHA - Hackers are bombarding the world's computer controlled energy sector, conducting industrial espionage and threatening potential global havoc through oil supply disruption.

Oil company executives warned that attacks were becoming more frequent and more carefully...

NICOSIA - Cyprus's central bank slashed its growth forecast for the island's economy next year to zero on Friday, saying fiscal consolidation and possible deleveraging by banks exposed to Greece would dampen economic activity.
The island should see a return to modest growth of 1.3% in 2013,...

According to provisional estimates the Turnover Value Index of Retail Trade for September decreased by 1.3 units or 0.9% compared to 136.3 units in August.
For the nine month period January-September the Index is provisionally estimated to have an increase of 4.6% compared to the same...

NICOSIA - Cyprus will sell up to €50 million of three year bonds paying a 6.0% coupon in a December 21 auction, the finance ministry said on Friday.
It said the bonds would have a January 4 issue date and authorities could increase the amount, depending on demand. (Reuters)
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Marfin Popular and Bank of Cyprus will need to find a combined €3.5 billion under the European Banking Authority's assessment of how much capital about 70 banks need to withstand the euro zone debt crisis and financial market turmoil.
The EBA said banks need to hold a core Tier 1 ratio of 9%...

 NICOSIA - The Central Bank and the Dubai Financial Services Authority (“DFSA”), have concluded a Memorandum of Understanding (MoU) on the supervision of credit institutions.
The MoU was signed by DFSA Chief Executive Paul Koster and Central Bank of Cyprus Governor Athanasios...

 LONDON — Stocks gave up earlier gains Wednesday as hopes dissipated that a deal to save the euro would be agreed at a summit of European leaders at the end of the week, in the wake of an insistence from Germany that it wouldn't accept anything other than a treaty change.

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BRUSSELS - Cyprus’ GDP decreased during the third quarter of 2011, while GDP in the euro area and in the EU27 recorded a small increase, according to second estimates released Tuesday by Eurostat.

According to the data, GDP in Cyprus declined by 0.8% during the third quarter of...

 LIMASSOL The Cyprus Shipping Chamber participated, as part of the Cypriot delegation, in the recent meeting of the European Community Shipowners’ Association (ECSA), in Brussels, discussing issues of concern to the European Shipping Industry.
According to an announcement, the meeting...