News | Latest Breaking News Stories & Headlines

Gold prices fell 9% yesterday but have been up so far today

Gold market rises after record-breaking drop

Gold rose more than 3% today after physical buyers of bullion grabbed the chance offered by the previous session's record-breaking one-day drop, but investors expected more falls.

Business • 16 Apr 13

ECB chief Mario Draghi looking for ways to help SMEs access credit

Draghi urges quick action on bank authority

European Central Bank President Mario Draghi has said there is no such thing as currency war raging at this moment.

Business • 15 Apr 13

Cypriot President Nicos Anastasiades to write to Jose Manuel Barroso and Herman Van Rompuy

Cyprus not asking for bigger bailout

Cyprus is considering putting EU structural funds to earlier use to help its stricken economy.

Business • 12 Apr 13

Cyprus's total bullion reserves stood at 13.9 tonnes at the end of February

Cyprus to sell around €400m worth of gold

Cyprus has to sell excess gold reserves to raise around €400m to help finance its part of its bailout.

Business • 11 Apr 13

Cyprus concerns hit euro zone sentiment this month

Euro zone sentiment dips in April on Cyprus worry

Euro zone sentiment fell for a second consecutive month in April due to concerns over the Cyprus bailout.

Business • 08 Apr 13

The resignation of Michael Sarris was accepted by the government

Cypriot Finance Minister Michael Sarris resigns

Cypriot finance minister Michael Sarris has quit after concluding talks with foreign lenders on a bailout that forced the country to put unprecedented losses on bank depositors in return for aid.

News • 02 Apr 13

President Nicos Anastasiades said the growth plan would be put to the cabinet within the next 15 days

Cyprus set to lift ban on casinos

Cyprus plans to lift a ban on casinos and offer firms tax exemptions on profits reinvested on the island under a package of reforms to kickstart its economy, its president said today.

News • 01 Apr 13

Banks reopened yesterday after an almost two-week shutdown

President says Cyprus will not leave eurozone

Cypriot President Nicos Anastasiades has said Cyprus has no intention of leaving the eurozone and that the situation there was "contained".

News • 29 Mar 13

Moody's says Cyprus bailout increased the risks associated with holding Irish debt

Moody's dashes Irish upgrade hopes due to Cyprus

Credit agency Moody's has dashed Irish hopes of an investment grade rating following a landmark 10-year bond issue.

Business • 28 Mar 13

Queues formed outside a number of banks in Nicosia this morning (Pic: Will Goodbody)

Limits on transactions as Cyprus banks reopen

Cyprus has conceded that tight capital controls will remain in force longer than expected as the island's banks reopened for the first time in days.

News • 29 Mar 13

Euro zone confidence sees first fall in four months

Euro zone confidence falters in March

Confidence in the euro zone's economy worsened in March, falling after four months of gains in a row and suggesting a hard route out of recession.

Business • 27 Mar 13

Oil prices down after yesterday's strong gains

Oil prices ease after day of strong gains

The price of oil eased back to below $96 a barrel today, a day after hitting a five-week high on the back of solid US economic data.

Business • 27 Mar 13

Banks in Cyprus getting more security ahead of reopening tomorrow

Cyprus gears up for banks' reopening

Cyprus has imposed limits on money transfers and hired extra security guards to prepare for the reopening of its banks.

Business • 27 Mar 13

There have been numerous protests in Cyprus since the bailout deal was reached

Banks to open in Cyprus Thursday

Cypriots are expected to descend in their thousands on banks tomorrow, which reopen with tight controls imposed on transactions to prevent fleeing depositors from cleaning out the vaults in a catastrophic bank run.

News • 28 Mar 13

Cypriot banks will remain closed until Thursday

Cyprus completes measures to prevent run on banks

Cyprus is expected to complete capital control measures to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders.

News • 26 Mar 13

41% of those surveyed by Sentix expect at least one country to leave the euro zone within next 12 months

Investors' fears of euro zone breakup rise

The number of investors who believe a member of the euro zone will quit the single currency bloc over the next year rose to the highest level this month since last September.

Business • 25 Mar 13

Oil prices higher after bailout deal reached in Cyprus

Oil rises after Cyprus financial bailout agreed

The price of oil rose above $94 a barrel today after European nations agreed on a bailout for Cyprus that saves the country from a financial collapse that would have threatened the euro zone.

Business • 25 Mar 13

IMF's Christine Lagarde, Eurogroup president Jeroen Dijsselbloem and Commissioner Olli Rehn were involved in the negotiations

'Deal in best interest of Cyprus'

The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests and would end anxiety, but he also announced "very temporary" capital controls to stem a run on the island's banks.

News • 25 Mar 13

Cypriot President Nicos Anastasiades held crucial meetings in Brussels with the EU, ECB and IMF

Cyprus in last-minute talks to save economy

Cypriot President Nicos Anastasiades has held fraught last-minute talks with international lenders as doubts grow about whether a deal could be reached to save Cyprus from financial meltdown.

News • 24 Mar 13

Cyprus has until Monday to reach a deal with the European Union

Intense talks as Cyprus edges closer to bailout

Cyprus has reportedly agreed a deal on a controversial bank deposit levy with the European Union and the International Monetary Fund.

News • 23 Mar 13

Oil fell 1% yesterday as the Cyprus crisis put traders on edge

Oil inches higher following Cypriot jitters

The price of oil has inched up closer to $93 a barrel after a big slide the day before as the financial crisis in Cyprus kept traders on edge.

Business • 22 Mar 13

Cypriots protest in Nicosia as the government tries to confront the island's financial crisis

Cyprus passes laws aimed at securing bailout

Cyprus has adopted legislation allowing the government to split the island's failing lenders into good and bad banks.

News • 22 Mar 13

Cypriot banks will remain closed until Tuesday as a result of the crisis

Cyprus may impose capital controls on banks

The Cypriot government has submitted a bill to parliament giving the finance minister or central bank governor the right to impose capital controls on banks.

Business • 21 Mar 13

Banks in Cyprus will remain closed until next week but ATMs are still dispensing cash

ECB pushes Cyprus to reach funding deal

The European Union has given Cyprus until Monday to raise at least €5.8bn needed to secure an international bailout or face a collapse of its financial system that could push it out of the euro currency zone.

News • 21 Mar 13

A Cypriot demonstrator holds a banner during a protest against a EU bailout deal outside parliament

Cyprus draws up 'Plan B' for bailout - officials

The Cypriot government has drawn up a new plan to raise funds needed for the country to secure a crucial international bailout, three top government officials said tonight.

News • 20 Mar 13