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News of Cyprus
Egypt's Orascom Telecom says it rejects Altimo's buyout offer
Egypt's Orascom Telecom Holding said its board of directors had recommended rejecting an offer by a subsidiary of Russian billionaire Mikhail Fridman's Altimo to buy out the mobile company for $0.70 a share. Cyprus-based Altimo made the offer in late March. A statement by Orascom said that an (...)

14 - 05 - 2013
Cyprus keeps capital controls in place
Cyprus' Central Bank chief says it's necessary to keep capital controls in place until trust in the bailed-out country's ailing banking system is restored. Panicos Demetriades said Thursday the Central Bank wants to eliminate these controls as soon as possible, but it has to first take into account (...)

09 - 05 - 2013
Egypt's Deadly Clashes, Downgrade Seen Hurting Sentiment Today
The deadly clashes that erupted in Egypt's capital in continuing opposition to the Islamist government and worsening economic situation may weigh on Cairo's bourse – Egyptian Exchange on Sunday, Reuters reported. Several thousand opponents of Egypt's Muslim Brotherhood clashed with supporters of (...)

24 - 03 - 2013
Gold reaches highest price for three weeks
Gold reached its highest price in three weeks on Wednesday as fears surfaced once again regarding the stability of the eurozone. Fears were aroused by the recent refusal of Cyprus to accept conditions put forth by the EU for acceptance of an economic rescue plan. This led to the increase of the (...)

20 - 03 - 2013
Dollar Up After Cyprus Vote, Before FOMC Meet
The dollar gained in Asia trading hours on Wednesday, after the Cypriot parliament rejected a bailout proposal and ahead of a policy meeting at the U.S. Federal Reserve. The ICE dollar index , which measures the greenback against a basket of six rival currencies, traded at 82.985, from 82.893 in (...)

20 - 03 - 2013
Europe Stocks Drop As Cyprus Worries Persist
European stock markets extended losses at the open on Tuesday, amid worries over the bailout plan for Cyprus, including a controversial levy on bank deposits. A vote on the bailout measures was scheduled for later Tuesday, but there had been rumors that the vote could be postponed to later this (...)

19 - 03 - 2013
Europe Stock Futures Sharply Off On Cyprus Bailout
European stock market futures pointed to sharp losses for markets on Monday. News of an unprecedented levy on bank deposits in Cyprus as part of a bailout triggered a selloff for the euro and losses for Asia markets. U.S. stock market futures were also sharply lower. Futures for the German DAX 30 (...)

18 - 03 - 2013
Putin says Cyprus plan unjust: Spokesman
The spokesman for Vladimir Putin says the Russian president is strongly critical of a plan to levy a tax on depositors in Cyprus. Russian companies have an estimated $19 billion in Cypriot bank accounts. Russians have for years seen Cyprus as an investor-friendly jurisdiction with lax banking (...)

18 - 03 - 2013
Foreign Securities Trading Ban; New Hindrance
Dr. Kamal Ganzouri's decree on banning local brokerage companies from foreign securities trading has aroused multiple inquiries among securities companies which work in this field. Yet, other securities companies, which do not work in the field of foreign securities trading, have said the decree is (...)

06 - 06 - 2012
53 European football nations to meet in Cyprus
Europe's 53 football countries will have the future and popularity of their national teams at the top of the agenda at a two-day summit meeting in Cyprus. UEFA member federations are under pressure from influential clubs to play fewer matches by scrapping some international friendly dates and (...)

20 - 09 - 2011
Sepp Blatter uses Twitter to reject rumors
Blatter tweets that “the existence of a reported ‘deal' between me and Michel Platini for the FIFA Presidency is pure nonsense,” and adds “the suggestion that I intend to stop my four-year mandate before its end is simply ridiculous.” Unsourced reports of a deal were published Wednesday ahead of (...)

14 - 09 - 2011
Fitch cuts Cyprus rating on fiscal slippages
Fitch cut Cyprus' credit rating by two notches to BBB on Wednesday due to fiscal slippages, saying the island state was likely to require a bailout to meet its funding needs. "The two-notch downgrade of Cyprus's ratings to 'BBB' reflects the actual and anticipated fiscal slippage, compounded by (...)

10 - 08 - 2011
Cyprus to adopt austerity measures after explosion
The Cyprus government says it has agreed with party leaders on an initial austerity package to buoy the Mediterranean island's beleaguered economy in the wake of a deadly blast that has triggered an energy crisis. Government spokesman Stefanos Stefanou did not disclose details of the package, (...)

22 - 07 - 2011
The Pygmalion effect
When a manager sets target for the team members, the expectation of the target achievement brings in certain feelings which make a team member feels that the tasks are doable and target can be easily achieved. This transaction of feelings, which results in achievement of the target is a part of the (...)

13 - 11 - 2010
Coptic bishop says controversial Quran statements were ''misunderstood''
Bishop Bishoy, secretary of the Coptic Church's Holy Synod, delayed delivering a scheduled speech at a conference held in Fayoum Wednesday evening in order to consult with his aides after hearing that the local press intended to publish a printed copy of his speech. Bishoy insisted that what was (...)

23 - 09 - 2010
''Heavy'' trouble
I would like to congratulate Wael el-Ebrashi for the series of episodes he did on Satanists on his show el-Haqiqa(The Truth) in which he hosted two such Satanists, whose only fault seems to be that they listened to heavy metal. He also invited a guest from the older generation who attacked the (...)

13 - 03 - 2010
Richards catches swine flu, stuck in Cyprus
England and Manchester City right-back Micah Richards has been diagnosed with swine flu, which he caught while spending his summer holiday in Cyprus. Richards was meant to join the rest of his City mates earlier in the week, but the diagnoses meant he will not be allowed to leave Cyprus for (...)

11 - 07 - 2009
Inter held by Famagusta, Panathinaikos stun Bremen
Inter could only salvage a 3-3 draw against Anorthosis Famagusta in the UEFA Champions League clash played in Cyprus on Tuesday. Cedric Bardon's 31st minute strike cancelled out Mario Balotelli's early goal (14) for the visitors. Marco Materazzi (45) restored the lead for Inter before Georgos (...)

05 - 11 - 2008
Diego promises to maintain Werder's winning streak
Werder Bremen playmaker Diego hopes to help his team maintain their form before starting their Champions League campaign on Tuesday. Werder had a very poor start to the season as they only collected two points from their first three Bundesliga games. However they managed to bounce back with a (...)

15 - 09 - 2008
Tennis-Federer breezes past Kiefer into Melbourne final
Defending champion, Roger Federer reached his third straight Grand Slam final as he eased past German Nicolas Kiefer in the Aussie Open semifinals on Friday. The Swiss world number one, who made it to the semifinals after claiming two hard-fought wins over Tommy Haas in the fourth round and (...)

27 - 01 - 2006
'Save the press'
The Al-Nabaa debacle has cast shadows over prospects for greater press freedom.Shaden Shehab assesses the damage Journalists want a free press, oppose imprisonment for publication offences and the suspension of the publication of newspapers. Or at least they used to, until the unfolding of events (...)

28 - 06 - 2001
Egypt stocks rise 1% on corporate tax law changes
Egypt's benchmark EGX30 index rose by 1 percent on Wednesday to 5,455 points in a session that saw atypically high daily turnover of some LE1.1 billion, including LE695 million in bond trading. "Investors were encouraged by amendments to Egypt's tax law, which were ratified by the Shura Council (...)

15 - 05 - 2013
Russia's Altimo Confirms Offer For Sawiris' Orascom
Russian billionaire Mikhail Fridman's Altimo on Tuesday confirmed that a subsidiary has offered to buy 100 percent of Egypt's Orascom Telecom (ORTE.CA), while part-owner VimpelCom will not tender its shares in the offer. Egypt's stock exchange (EGX) said in March the Cyprus-based firm owned by (...)

16 - 04 - 2013
Egypt's FSA Still Studying Cypriot Bid For Orascom Telecom
Egypt's Financial Supervisory Authority (EFSA) stated that it is still studying the tender offer submitted by Baskendal, a Cypriot Company owned by Altimo, to acquire 100% of Orascom Telecom Holding (OTH) (ORTE.CA) for the latter is currently completing the documents necessary for its tender (...)

10 - 04 - 2013
Cyprus is edging towards euro exit
Cyprus is no longer center stage. Nicosia has agreed a 10 billion euro bailout deal with its euro zone partners and the International Monetary Fund. A visible bank run has been averted by stringent capital controls. International markets, which only ever suffered a mild bout of jitters, have calmed (...)

08 - 04 - 2013
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