Cyprus is finalizing capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders. Cypriots have taken to the streets of Nicosia in their thousands to protest against a bailout deal they […]
World News
Nigerian Naira Heads for 2-Week High on Oil Industry Supply Bets
The naira gained for a third day and headed for its strongest in more than two weeks on speculation that Nigerian oil producers will sell dollars to meet month-end expenses before a currency auction today. The currency of Africa’s second-biggest economy rose less than 0.1 percent to 158.15 per dollar […]
Last-minute Cyprus deal to close bank, force losses
Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro bailout. The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations […]
