Barclays takes another $1.6 bn hit for mis-selling

Barclays set aside another 1 billion pounds ($1.6 billion) to compensate customers for mis-selling products, dropping another British banking bombshell as the industry struggles with the scale of redress for past misdemeanors.

CYPRUS: Eight bids for short term gas supply

The Natural Gas Public Company (DEFA) announced Monday that 8 Interested Parties submitted Monday their binding proposals, for the Expression of Interest procedure which was initiated on 27th September 2012 for the

Cyprus: building permit values up in Nov

The number of building permits authorised by municipal authorities and district administration offices fell by 7.8% over the year earlier in November 2012 to 554. The total area authorised fell by 6.5%

Cyprus: industrial output down 11.3% y/y in Nov

The industrial production in November 2012 reached 79.7 (base 2005=100), recording a decrease of 11.3% compared with November 2011 according to the Statistical Service. The manufacturing subindex fell in the same period

Electric cars head toward another dead end

– Nissan shifts focus from EVs to hybrids  – Toyota considers hydrogen fuel cells  – EV demand falls far short of expectations  – Are electric cars running out of juice again? Recent moves

Spanish worries tarnish growth outlook

European shares edged up but the euro fell and German bonds trimmed their losses on Monday as a resurgence of worries about Europe undermined positive sentiment stemming from stronger U.S. and Chinese