Cyprus banks re-open; cash withdrawals capped at $383

Last Updated: Thursday, March 28, 2013, 09:01

Among the capital controls, cash withdrawals will be limited to 300 euros (USD 383) per person each day.

Cyprus bailout: Banks to stay shut until Thursday

Last Updated: Tuesday, March 26, 2013, 09:59

Earlier on Monday, the island country and its euro zone partners reached a deal on a 10-billion euro (USD 13 billion) bailout package for the island nation to avoid bankruptcy and to keep it within the single currency group.

Eurozone ministers reach bailout deal on Cyprus

Last Updated: Monday, March 25, 2013, 17:38

The finance ministers of the 17-nation eurozone agreed early Monday on a 10 billion euros (about $13 billion) bailout deal for Cyprus to prevent the country`s banking system from collapsing and bankruptcy.

Cyprus, euro zone partners reach 10-billion euro bailout deal

Last Updated: Monday, March 25, 2013, 09:42

Restructuring the Cypriot banks has been one of the main demands of the EU, which regards the island's banking sector as "too big" compared to its economic output.

Only hard choices left for Cyprus now, says European Union

Last Updated: Sunday, March 24, 2013, 15:21

The European Union has warned debt-stricken Cyprus on the eve of crucial negotiations on its future that it will have to make "hard choices" and asked the country to reach an agreement with its euro zone partners on a rescue package to avert a bankruptcy.

Stock markets may remain volatile in truncated week: Experts

Last Updated: Sunday, March 24, 2013, 11:16

Situation may turn volatile if Cyprus is unable to raise the 5.8 billion euros necessary for a 10 billion euro bailout package by Monday, an expert said.

Eurozone crisis has hurt global investment; India is no exception: FM

Last Updated: Saturday, March 23, 2013, 11:56

Referring to global economy, the Minister said the eurozone crisis has impacted investment around the world and India was no exception.

Cyprus Parliament passes bailout bills

Last Updated: Saturday, March 23, 2013, 10:37

The Parliament agreed to creates a so-called investment fund, aimed at helping raise 5.8 billion euros demanded by the Eurogroup as a condition for a 10 billion euro bailout.

RBI expresses concerns over Cyprus banks facing meltdown

Last Updated: Friday, March 22, 2013, 22:25

Reserve Bank Governor D Subbarao Friday expressed concerns over Cyprus banks facing meltdown, saying it has implications on the banking sector everywhere.

Euro ministers ready for new proposal to bailout Cyprus

Last Updated: Friday, March 22, 2013, 14:33

The new plan, which was offered here last night, is an alternative to the controversial bank levy proposed initially to raise up to 5.8 billion euros (USD 7.9 billion), a main condition to receive the bailout, which was overwhelmingly rejected by Cyprus' Parliament on Tuesday.