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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ European shares fall; ECB keeps rates on hold ]

European shares fall; ECB keeps rates on hold

European shares fall; ECB keeps rates on hold
February 04, 2010 - Reuters

European shares fell around midday on Thursday as banks were pressured by jitters over the fiscal health of euro zone peripheral countries, while the European Central Bank (ECB) kept interest rates on hold, as expected.

The ECB left interest rates unchanged at 1.0 percent for the ninth month running. Investors' attention will turn to the a press conference by ECB president Jean-Claude Trichet at 1330 GMT, where he will explain the decision.

Earlier, the Bank of England kept rates on hold at a record low of 0.5 percent and announced no increase to its unprecedented 200 billion pound asset-buying programme.

By 1305 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.8 percent at 1,012.59 points, after clsoing 0.6 percent lower on Wednesday.

Analysts said investors will be looking for reassurance from the ECB on the debt problems in Greece, among other issues.

"The market is hoping that Trichet is able to give an adequate answer to the fact that he has one monetary policy for 16 countries with different profiles," said Geert Ruysschaert, analyst at BNP Paribas Fortis in Brussels.

Santander, the euro zone's biggest bank, lost 2.8 percent after traders pointed to concerns over the outlook for crisis-hit Spain and worries the bank is not doing enough to address its property exposure despite results beating forecasts.

Other European banks -- Barclays, HSBC, Societe Generale, BNP Paribas, Commerzbank and Millennium bcp -- lost 1.9 to 3.6 percent.

Spanish infrastructure firm Ferrovial slid 8.3 percent as debt concerns and fears over the economy's outlook hit sentiment

Across Europe, the FTSE 100, Germany's DAX, France's CAC 40 , Spain's IBEX 35 and Portugal's PSI 20 lost 0.6 to 3 percent.

On the upside, Vodafone rose 5 percent after it raised its outlook after posting third-quarter revenue ahead of forecasts.


(Source: Financial Mirror, http://www.financialmirror.com/News/Cyprus_and_World_News/19259)



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