Big depositors in Bank of Cyprus to be hit much worse than feared

Under an arrangement expected to be announced on Saturday, depositors in Bank of Cyprus will receive shares in the lender worth 37.5pc of any savings over €100,000, while the rest may never be paid back, according to Reuters, citing a source with direct knowledge of the terms.

Economy posts sluggish growth in fourth quarter

WASHINGTON (Reuters) - The economy expanded at a sluggish pace in the fourth quarter although a big gain in business investment and higher exports of services led the government to push up its previous estimate for growth.

BRICS 'Big Five' find it hard to run as a herd

DURBAN, South Africa (Reuters) - At a summit in South Africa on Wednesday, Vladimir Putin likened the BRICS nations - Brazil, Russia, India, China and South Africa - to Africa's "Big Five" game beasts of trophy hunting lore - the lion, elephant, buffalo, leopard and rhinoceros.

IMF Reaches Staff-Level Agreement with Samoa on Economic Recovery Program to be Supported under Rapid Credit Facility

A staff team from the International Monetary Fund (IMF) led by Yongzheng Yang visited Apia during March 13-22 to hold discussions on the recovery plans in the aftermath of the tropical cyclone Evan that caused many deaths and extensive damage to the country’s infrastructure and productive capacity.

U.S. backs Cyprus protection for insured depositors

WASHINGTON (Reuters) - The U.S. Treasury Department said Cyprus' last-ditch agreement withinternational lenders could help avert an economic meltdown, adding that it protects insured depositors and shutters troubled banks.