The European Commission has today launched proposals for EU-wide rights to make it easier for consumers to shop on the Internet and in the main street. The new proposal will guarantee consumers, wherever they shop in the EU, clear information on price and additional charges and fees before they sign a contract. It will strengthen
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Greek Cypriots and Turkish Cypriots representatives explored today with an EU official the possibility of EU funding for a sewage treatment plant in Nicosia, that would ease the problems faced by people across the divided capital of Cyprus. Mayor of Nicosia Eleni Mavrou and Turkish Cypriot representatives met today with Jan Truszczynski, Deputy Director General
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A three member delegation of the Cyprus-Russian Association of Friendship and Cultural Relations, comprising its President Haris Thrasou, its General Secretary Andreas Thomas and the member of the Secretariat Andreas Partasides visited Moscow September 28 to October 3 to attend the celebrations for the anniversary of Cyprus Independency. The celebration was organised by the Russia-Cyprus
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By Alistair Lyon, Special Correspondent (Reuters) Like anyone invested in global financial markets, Arab sovereign funds, investment banks and rich individuals are taking a severe beating. Also getting queasy are those who have poured money into real estate ventures in boom towns like Dubai or Doha, or the frothy housing markets of Amman, Damascus and
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Iceland's fast-moving financial crisis deepened on Wednesday as the government seized control of a large bank it had planned to prop up and the central bank failed to defend the country's currency. Kaupthing, the island's top bank, was forced to take an emergency loan from Sweden and put its Swedish unit up for sale. Its
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Stock markets trimmed deep losses on Wednesday after coordinated interest rate cuts from central banks across the world and Wall Street looked set for a postive start. Cuts from the U.S. Federal Reserve, European Central Bank, Bank of England and People's Bank of China, among others, were designed to inject confidence into markets reeling from
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The U.S. Federal Reserve led a coordinated round of global official rate cuts on Wednesday, easing by a half percentage-point, as did the European Central Bank, Bank of England and Swiss, Canadian and Swedish central banks. In an attempt to stem unprecedented global market turmoil, the Fed cut its key federal funds lending rate by
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French President Nicholas Sarkozy called on Wednesday for the overhaul of both the Group of Eight industrialised nations and the United Nations, saying emerging economies needed to be given a greater voice. Speaking minutes after coordinated central bank rate cuts, Sarkozy said the financial crisis could not be resolved by any one party and added
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The U.S. Federal Reserve led a global round of emergency interest rate cuts on Wednesday in an effort to contain the worst financial crisis since the 1930s. The Fed said it was cutting its key federal funds rate by 50 basis points to 1.5 percent. China, the European Central Bank (ECB) and central banks in
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The global cell phone market should grow at much slower-than-expected rates next year as consumers put off buying new devices due to deepening economic concerns, according to forecasts from analysts. While industry executives often say cell phones are the last thing consumers will give up to save money, analysts are now citing lengthening phone replacement
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