Big oppportunities lie ahead for GCC investors as Cyprus gears up to tap significant hydrocarbon resources below the Eastern Mediterranean seabed, a consultant has said.
"An estimated 27 trillion cubic feet (tcf) of natural g
Etihad Airways, the national airline of the United Arab Emirates, has appointed Abdelrahman Abdullah Al Madhloum Al Suwaidi as its new general manager for Cyprus.
Al Suwaidi will lead the further development of Etihad Airways&rsqu
Clean-up efforts were underway after a tanker spilled more than 100 tonnes of fuel oil near a pristine coastline in northern Cyprus, threatening wildlife and tourism facilities, officials said on Wednesday.
The spill occurred earl
Euro zone banks are refusing to lend to peers in other countries in the common currency bloc, signalling a worrying fall in confidence that appears to have worsened since the Cyprus bailout earlier this year, data analysed by Reuters showed.
Even the most fierce gold bulls must be feeling sheepish after bullion tumbled its most in 30 years, raising questions about gold's value as part of an investor portfolio. Most experts failed to see the collapse coming.
Gold hit its lowest in a week on Thursday, pressured by heavy fund liquidation a day after European Commission documents showed Cyprus must sell around 400 million euros' ($523 million) worth of gold reserves under its bailout.
Co-CEO and co-founder of Saxo Bank, Lars Seier Christensen believes that the real problem is not Cyprus, it is the Euro, as he has written in his latest blog post.
After a few disturbing weeks, I would like to wrap up my comments
The president of Cyprus yesterday said the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island&
Cypriots banks reopen on Thursday with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the country from going bankrupt.