Cypriot rightwing leader Nicos Anastasiades and communist-backed Stavros Malas are to contest a runoff poll in their economic crisis-hit EU state, final results of a presidential election on Sunday showed.

Rightwing leader Nicos Anastasiades and communist-backed Stavros Malas are to contest a runoff poll in economic crisis-hit Cyprus, final results of a presidential election on Sunday showed.

Rightwing leader Nicos Anastasiades won Sunday's presidential election with 51 percent of the vote, taking the helm in efforts to secure a bailout for recession-hit EU member Cyprus, exit polls said.

Cypriots voted on Sunday for a new president to rescue the recession-hit EU member state from bankruptcy, in an election seen as one of the most crucial since independence.

Cypriot voters were going to the polls on Sunday to choose a new president after a heated election campaign focused on rescuing the recession-hit EU member state from bankruptcy.

Cypriot voters go to the polls Sunday to choose a new president after a heated election campaign focused on the path to rescue the recession-hit EU member state from bankruptcy.

G20 finance ministers on Saturday moved to calm fears of looming "economic warfare" on the currency markets, pledging they would not target specific forex rates or devalue currencies to make them more competitive.

G20 finance ministers on Saturday moved to calm fears of looming "economic warfare" on the currency markets, pledging they would not target specific forex rates or devalue currencies to make them more competitive.

G20 finance ministers sought on Saturday to convince markets at a meeting in Moscow they would not slide into "economic warfare" with competitive devaluations of currencies to boost activity.

Experts from the European Union, European Central Bank and International Monetary Fund are studying the consequences if Cyprus does not receive a bailout, a German newspaper reported on Saturday.

An economic adviser to Japanese Prime Minister Shinzo Abe on Friday defended a policy of monetary "independence" as Tokyo fends off charges that it is manipulating the yen.

An economic adviser to Japanese Prime Minister Shinzo Abe on Friday defended a policy of monetary "independence" as Tokyo fends off charges that it is manipulating the yen.

Europe's main stock markets retreated on Friday while the dollar and euro rose against the yen as Group of 20 finance ministers met amid growing talk of "currency wars".

London shares closed flat on Friday as investors kept to the sidelines amid worries about global "currency wars" ahead of a meeting of G20 finance ministers in Moscow, dealers said.

Finance ministers from G20 states gathered Friday in Moscow for their first meeting in the Russian capital aimed at reassuring markets that the world's economic powers would not slug it out in "currency wars" to boost national growth.

Europe's main stock markets advanced on Friday while the dollar and euro rose against the yen as Group of 20 finance ministers met amid growing talk of "currency wars".

Europe's main stock markets paused on Friday as investors awaited the start of a Group of 20 meeting that is expected to focus on growing talk of "currency wars", analysts said.

Asian stocks were mixed while the euro eased on Friday as data showed the eurozone slipped deeper into recession at the end of last year, while markets await the start of a Group of 20 meeting in Russia.

The head of the Bank of Japan on Thursday hit back at claims it is manipulating the yen, saying the BoJ's monetary easing was solely aimed at stoking economic growth at home.

The recession in the 17-nation eurozone deepened sharply in the fourth quarter of 2012 as the debt crisis continued to sap growth and confidence, with the outlook remaining uncertain and weak, analysts said Thursday.