Denmark is facing its "Nokia moment"; drugmaker Novo Nordisk has ballooned into a $100 billion giant, dominating its home stock market just as the Finnish firm did at the height of the 1990s tech boom. While the mobile phone maker's market value eventually slumped, there is a reason for thinking that Novo can remain a
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The euro hit a fresh 14-month high on Friday as investors returned to the region's riskier asset markets, while shares steadied ahead of a batch of major U.S. and European economic data. The euro hit a high of $1.3634 to the dollar, building on gains of over 3 percent in January, as the European Central
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Cyprus stands ready to undergo any inspection on its anti money laundering legal framework, Finance Minister Vassos Sharly told Dutch lawmakers, adding that Cyprus has nothing to hide. Sharly, accompanied by representatives of the Central Bank of Cyprus, the Finance Ministry and the head of Anti-Money Laundering Unit appeared before the Dutch Parliamentary Committee of
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Recapitalization of Cyprus banks according to baseline scenario, says government Nicosia, Jan 31 (CNA) – The recapitalization of Cyprus banks should be done according to the baseline scenario of Pimco’s due diligence and not the adverse scenario, Government Spokesman Stephanos Stephanou said here today. He further called on everybody to remain calm, ahead of Pimco’s
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Archbishop of the Church of Cyprus Chrysostomos II has stated that the monastery of Apostolos Andreas will be restored according to a study prepared by the University of Patra, and “nobody can intervene to that (study)”. Speaking here Thursday, and invited to comment on the signing of the agreement between UNDP and the Church of
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The New York Times said on Thursday that Chinese hackers had "persistently" attacked its computers over the past four months since the paper published a story on Premier Wen Jiabao, but sensitive material related to the report was not accessed. The New York Times said the attacks coincided with its report last October that Wen's
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Iran's crude oil exports in December leapt to their highest level since European Union sanctions took effect last July, analysts and shipping sources said, as strong Chinese demand and tanker fleet expansion helped the OPEC member dodge sanctions. Exports rose to around 1.4 million barrels per day (bpd) in December, according to two industry sources
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Boeing Co stood by the troubled lithium-ion battery technology that this month grounded its new, high-tech 787 Dreamliner and said on Wednesday that the grounding had no significant impact on its 2013 financial forecast. It's "business as usual," CEO Jim McNerney said as the Chicago company posted market-beating profits for the fourth quarter. Responding to
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Asian shares fell slightly on Thursday after rallies to multi-month highs, and longer for some Southeast Asian markets, while the U.S. Federal Reserve's pledge to retain its stimulus policy undermined the dollar. Sentiment in Asian markets remained underpinned, however, by positive factory output data in Japan, and strong gross domestic product reports from Taiwan and
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The Energy Service of the Ministry of Commerce, Industry and Tourism selected today, through an electronic bidding process, 23 firms to construct photovoltaic parks for electricity production with a total capacity of 50 Megawatts (MW). In statements to the press, Minister of Commerce Neoklis Sylikiotis said that following the conclusion of the four electronic sessions,
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