Archive for June, 2012

UK banks braced for new mis-selling scandal

The Financial Services Authority will announce today Friday it has found evidence banks mis-sold interest rate swaps to protect companies against a rise in borrowing costs, a source familiar with the situation said.

A finding by the FSA of mis-selling …

28th June 2012

EU wants Cyprus to exit the crisis, Central Bank Governor says

Cyprus’ Central Bank Governor Panicos Demetriades on Friday said that the EU wants Cyprus to exit the economic crisis and therefore the discussions that will take place in the next days, must result to the best possible solutions.

Cyprus has …

Cyprus to organize 160 cultural events during its EU Presidency

  A total of 160 cultural events will take place during the six month Cyprus presidency of the European Council, beginning on July 1, 2012. The events will focus on the cultural heritage of Cyprus, its modern cultural production as well …

British Cypriot manager of New Salamis Cyprus resigns

Photo above: From L/R Nikos Andreou and Stephen Constantine

British Cypriot Steve Constantine resigns as manager of New Salamis for personal reasons. Steve has been very successful at New Salamis getting them promoted to the first Division and establishing again …

Cyprus: Unemployment rises to 11.1% in the 1st quarter of 2012

Unemployment rate escalated to 11.1% in the 1st quarter of 2012, recording an increase compared to the previous quarter of 2011.

 According to the results of the Labour Force Survey, which is carried out in accordance with a European Union …

Ayia Napa murder victims’ boss is held

A 47-year-old Famagusta businessman, who employed four of the five men murdered on the weekend in a bloody shooting in Ayia Napa, was yesterday arrested on suspicion of assault.
According to the police, Phanos Kalopsidiotis was detained by the authorities …

EU summit tries to resolve the euro zone’s debt crisis.

European finance officials were working on urgent measures to ease financial market pressure on Spain and Italy, which are too big to bail out, as EU leaders began a summit on Thursday deeply divided over how to resolve the …

It’s 30 years today since George Michael first entered the charts

 Today 29 June 2012, is thirty years to the day that ‘Wham Rap’, George Michael’s first single, written with Andrew Ridgeley entered the British charts. To celebrate and commemorate those thirty chart topping years, George will be releasing his most

UK drafts in fraud squad as Libor fine hits Barclays

Britain said on Thursday it had brought in the fraud squad to investigate possible crimes and would tighten laws over attempts to manipulate lending rates, a scandal which has engulfed Barclays and is expected to spread to other banks.

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