Ryanair could miss its full-year profit forecast as increased competition forces it to cut fares and capacity, while austerity measures in the euro zone and a weak sterling hit demand, Europe's biggest budget airline said on Wednesday. The Irish group, which has routinely beaten profit forecasts in recent years, said it now expects its full-year
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Industrial producer prices increased in July in the EU and the Eurozone, while a drop was recorded in Cyprus, according to data released by Eurostat on Tuesday. In July 2013, compared with June 2013, industrial producer prices rose by 0.3% in the Euro area (EA17) and by 0.4% in the EU28, according to estimates from
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The Republic of Cyprus has already set in place a contingency plan, dubbed “Estia”, to respond to problems that will possibly emerge due to the crisis in Syria, Communications and Works Minister Tasos Mitsopoulos said on Tuesday. He added that Greece has already expressed readiness in aiding Cyprus to perform mass evacuation operations of third
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A former Cyprus interior minister has lost an extradition battle after a court in Nicosia said he would have to appear in Greece within ten days for questioning related to corruption charges against a once-powerful Greek politician who is now in jail. Tsohatzopoulos, a founding member of Greece's once mighty socialist PASOK party who almost
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Pending home sales felt the sting of high mortgage rates last week in the US, declining by 1.3% despite hopes of a 0.2% rise. Potential buyers are feeling intimidated by the prospect of being tied down to higher monthly payments, with many calling a halt to their buying plans. Another unexpected plunge in US data
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Japan will tell G20 nations at a summit this week that it will proceed with a planned two-stage sales tax hike, and consider compiling an extra budget for fiscal spending to ease the pain on the economy, Finance Minister Taro Aso said on Tuesday. Aso, who will accompany Prime Minister Shinzo Abe to the Group
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Microsoft said it will buy Nokia's phone business and license its patents for 5.44 bln euros ($7.2 bln), making its boldest foray yet into mobile devices and bringing executive Stephen Elop back into the fold. Nokia chief Elop, a former Microsoft executive, will return as Microsoft's board ponders a successor to current CEO Steve Ballmer,
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Upbeat factory data from around the globe powered Asian markets on Tuesday, while gold and the yen lost some of their safe-haven appeal as the U.S. delayed a possible strike on Syria. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.7%, building on Monday's 1.2% rise and on track for a fourth day of
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Forex Time Ltd (FXTM) has launched a new Mandarin Chinese language website to support traders with content in the world’s most spoken language. With more than 1 billion people across the world speaking Mandarin Chinese, it is also the top language worldwide for business other than English. Forex is a truly international market and the
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Cyprus is successfully carrying out the reforms necessary under its 10 bln euro bailout programme and will get the next tranche of financial help as planned, a draft report by the European Commission showed on Monday. Inspectors from the Troika of international lenders — Commission, European Central Bank and IMF — visited the island in
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