NICOSIA - The Cyprus Central Bank has backed the government’s decision to apply for financial assistance from the European Union's EFSF/ESM bailout funds to curb exposure of its financial sector to Greece
In an official announcement it said:
“The Central Bank of Cyprus supports...

 ISTANBUL — Turkey's prime minister has delivered a keynote speech at a regional meeting of the World Economic Forum, more than three years after he stormed off the stage in Davos, Switzerland, during a debate with the Israeli president.

Recep Tayyip Erdogan opened the meeting...

 LONDON — Europe dodged a bullet Tuesday after the economy of the 17 countries that use the euro narrowly avoided a recession in the first quarter of the year despite a raging debt crisis that's raising the specter of the breakup of the currency union.

There was one reason why...

BERLIN-German Finance Minister Wolfgang Schaeuble said he was already strongly involved in matters of the Eurogroup of euro zone finance ministers and therefore could not exclude the possibility of becoming its head when Jean-Claude Juncker's term expired in June.
"As German finance minister...

Nicosia – The government is examining new measures that would create jobs, Government Spokesman Stephanos Stephanou said on Saturday, as unemployment reached a record-braking 9.1% in Cyprus in November 2011.
Amid the continuing financial crisis and fueled by the sluggish growth, unemployment...

Google Inc is pondering an Internet service to help consumers shop online and take advantage of same-day delivery, hoping to stanch the loss of Web traffic to Amazon.com Inc, the Wall Street Journal reported on Thursday.

The Internet search leader is in talks with major retailers and...

BRUSSELS/LONDON -  Europe faces a crucial 10 days to save the euro zone after agreeing to ramp up the firepower of its bailout fund but acknowledging it may have to turn to the International Monetary Fund for more help to avert financial disaster.

"We are now entering the...

BRUSSELS— Eurozone finance ministers were streaming into Brussels on Tuesday in a desperate bid to save the 17-nation euro currency — and to protect Europe, the United States, Asia and the rest of the global economy from a debt-induced financial tsunami.

Most officials agree that, in...

BUDAPEST — The downgrade to junk status of Hungary's credit rating by Moody's is part of a series of "financial attacks" against the country, Hungary's economy ministry said Friday.

Moody's Investors Service, one of the three main credit rating agencies, cut its ranking of Hungary's...

 BEIJING - Chinese Vice-Premier Wang Qishan warned on Monday the global economy is in a grim state and that an "unbalanced recovery" might be the best option, at talks where senior U.S. officials said the mood at home towards China was souring.

The remark marked Wang's...