BUSINESS

Cyprus can amend the terms of a bailout deal that has sparked huge public anger and led to heavy cash withdrawals, German and European bank officials have said.

The Cypriot central bank has announced that the country's banks will stay closed until later this week as fears mount of a bank run.

The head of the UK's financial compensation scheme says savings are "well protected" and it is "inconceivable" the Cypriot bank account tax could happen in the UK.

The world's largest concentrated solar power plant opens in Abu Dhabi at a cost of an estimated $600m.

There is "no room" for negotiation over the proposed EU-wide bankers bonus cap, one of its supporters has said.

European-owned planemaker Airbus has won a record order for 234 planes worth 18.4bn euros (£15.7bn, $24bn) from Indonesia's Lion Air.

President Putin has criticised the terms of the EU and IMF bailout of Cyprus, as Russian banks and individuals with money invested in the country would be subject to the savings levy.

Our daily morning business round-up looks at the main stories in Europe and Asia.

Asda chief executive Andy Clarke says the horsemeat scandal was about criminality - not cheap food.

Representatives from African countries are to visit Delhi for the India Africa partnership forum.

The last new bank to open was in 2007, but a change of rules by India's central bank could ease start-ups.

The UK tax authority's new target for answering calls from taxpayers is "unambitious and woefully inadequate", according to a committee of MPs.

India's film industry has turned its attention to the country's inflation rate, which has been around 7%

The Cypriot bailout throws away all the rules painfully negotiated since 2007-08 on how to bring order to banking systems in a crisis, Robert Peston says.

Cyprus' parliament is due to hold an emergency session to discuss a big bailout, which has angered the public.

New home prices rise in 66 of China's 70 major cities in February, underlining the challenge its new leaders face in controlling the sector.

Should the UK plough on with spending cuts?

There are more than a billion cars in the world today - and by the middle of the century there could be up to four times as many.

Thousands of British expats in Cyprus could lose up to 10% of their savings, following a bail-out agreement with EU finance ministers and the IMF.

Cyprus's leader says he is battling EU leaders' demand that all bank customers must pay a one-off levy in return for a 10bn-euro bailout.