Britain's finance minister George Osborne will unveil on Wednesday his plans for another round of government spending cuts as he tries to keep his deficit-reduction drive on track and free up cash for fresh investment. After weeks of tough negotiations that have strained relations among ministers trying to protect their turf, the Treasury clinched a
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Three Chinese astronauts returned to Earth on Wednesday, touching down in north China's Inner Mongolia after a successful 15-day mission in which they docked with an experimental manned space laboratory. The Shenzhou 10 spacecraft, China's fifth manned space mission since 2003, completed the final trial docking with the Tiangong (Heavenly Palace) 1, critical in Beijing's
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Asian shares turned around a four-day losing streak and rose on Wednesday after China's central bank assured it will offer funds to banks if needed, but lingering fears of a credit crunch and slower loan growth continued to drive selling of Shanghai shares. Financial stocks fell nearly 2 percent in Shanghai, in turn dragging Japan's
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The investigation committee looking into the causes of Cyprus’ economic debacle has decided that it will not probe cases being examined by the Courts. The issue arose after a lawsuit was filed by the Special Administrator of Laiki Bank against Andreas Vgenopoulos, Efthimios Bouloutas, Kyriakos Magiras and Marfin Investment Group Holdings SA and the launch
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The Veterinary Services are making efforts, using all means at their disposal, to confine the contagious Newcastle Disease Virus (NDV) so that it does not spread to other districts in the southern government-controlled areas of Cyprus, Vet Services Director Giorgos Kyriakides has said. He added that on Tuesday they also identified the disease at several
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A Financial Commissioner has been appointed and will assume his duties on July 1 to deal with complaints against financial institutions, the Board of the Financial Ombudsman announced on Tuesday. The Board said that with the appointment of Pavlos Ioannou as financial commissioner all procedures related to the Financial Ombudsman and its organizational structure will
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Cyprus does not seek to renegotiate the terms of a €10 billion bailout agreed with its international lenders but to re-adjust some aspects of the programme, President of the Republic Nicos Anastasiades has said. The President`s remarks came a few days before the EU Summit, where he said he will raise the issue of practical
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For the first time, millions of holiday-makers traveling in the EU this summer will be protected by comprehensive passenger rights – whether traveling by air or rail, and now also by ship, bus and coach. According to the European Commission research shows that two-thirds of passengers are not aware of their rights. For this reason,
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China's top state newspaper praised fugitive U.S. spy agency contractor Edward Snowden on Tuesday for "tearing off Washington's sanctimonious mask" and rejected accusations that it had facilitated his departure from Hong Kong. The strongly worded front-page commentary in the overseas edition of the People's Daily, the official newspaper of the Chinese Communist Party, comes after
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China shares slumped to their lowest since early 2009, reversing Hong Kong gains on Tuesday morning, with losses accelerating for mid-sized banks as mainland interbank rates started climbing, deepening market jitters. By midday, the weighted-average seven-day repo rate was slightly higher than it closed at on Monday after the Chinese central bank on Tuesday opted
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