European financial groups ING and Zurich Financial Services reported quarterly profits that met or exceeded expectations on Wednesday, helped by strong insurance businesses and limited investment writedowns. But smaller insurers in Europe, more vulnerable to credit market turmoil and weakening economic conditions, reported sluggish profits. ING's second-quarter net profit fell 25% to 1.92 bln euros
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European equities fell in early trade on Wednesday, losing ground for the second day in a row as banking shares tracked declines suffered by their U.S. peers overnight on rekindled worries over credit losses. But the losses were limited by gains in mining stocks, recovering from recent sharp losses along with metal prices. Rio Tinto
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The number of Britons claiming jobless benefits rose in July by the largest amount since 1992 and average earnings in the three months to June rose by the weakest amount in five years, official data showed on Wednesday. The Office for National Statistics said the claimant count rose for a sixth consecutive month, by 20,100,
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Four business and legal advisory firms in Cyprus were among the 50 recipients of European CEO magazine’s first annual awards that “recognise the organisations which represent the very highest standards of service, innovation and competence in their respective field.” Organisations from across Europe and the world have been recognised, all from diverse and varied industry
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Engomi Municipality has joined the Green Dot Cyprus network, increasing the islandwide coverage to 400,000 people or 55% of all households. The greater Nicosia municipalities will start work in September to raise awareness and introduce three channels of collection – paper twice a month, PMD and recyclable metal (aluminium), as well as tetrapak once a
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The European Parliament is offering paid traineeships for five months to persons with disabilities to help facilitate the integration of disabled people in the workplace. These are open to graduates of universities or those with qualifications below university level. The purpose of the programme is to offer valuable work experience and an opportunity to familiarise
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The U.S. trade deficit with China cost 2.3 mln American jobs between 2001 and 2007, the Economic Policy Institute said in a report likely to fuel debate about free trade ahead of November elections. Even when they found new jobs, workers displaced by job loss to China saw their earnings decrease by an average of
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Outsourcing is favored as a business tool across Europe, according to a new survey by Ernst & Young of more than 600 decision makers in European companies. The survey highlights that 70% of respondents already outsource at least one function of their business, with 20% set to increase their level of outsourcing in the next
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Keep to community, environment issues When the local Green party gets involved with serious issues concerning the environment, natural resources, community and the extremes of poverty and prosperity, they seem to gain popular support. Whenever a party spokesman blabbers on about politics, they just become “one of the same”, boring people out of their wits.
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All of the premium tickets at 60 and 80 euros for the first two nights of the Madame Butterfly opera to be staged at the Paphos castle on Friday, August 29, and Saturday, August 30, have been sold out, according to the organisers Paphos Aphrodite Festival. Tickets are available for the 35- and 50-euro seats,
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