President Demetris Christofias has expressed hope and expectation that an overall political agreement on the EU budget for the next seven years will be reached at the extraordinary meeting of the European Council on November 22-23. ‘My own personal hope and expectation is that we will decide on a budget of solidarity whose primary goals
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Britain is pushing for changes to a proposed euro zone banking union to dilute the power of the European Central Bank, EU officials said, potentially hampering efforts to build the infrastructure urgently needed to underpin the euro. Last month, the European Commission proposed making the ECB responsible for supervising lenders as a step towards a
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European shares gained and the euro trimmed some of its losses after Chinese data offered evidence for stronger than expected global growth on Monday, but uncertainty over when Spain might request a bailout weighed on investors. Data over the weekend from China, the world's second largest economy, showed inflation was subdued in September while exports
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A bicycle made almost entirely of cardboard has the potential to change transportation habits from the world's most congested cities to the poorest reaches of Africa, its Israeli inventor says. Izhar Gafni, 50, is an expert in designing automated mass-production lines. He is an amateur cycling enthusiast who for years toyed with an idea of
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Turkey ordered an Armenian plane flying to the Syrian city of Aleppo to land on Monday and authorities were searching its cargo, as Ankara steps up efforts to prevent its air space being used to supply the Syrian military. Turkey had previously been informed the plane, which was forced to land in the eastern Turkish
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Hard Rock International is proud to announce the opening of its newest Hard Rock Cafe in Nicosia, the capital city of Cyprus. Hard Rock Cafe Nicosia which is located at 21 Spyrou Kyprianou Avenue, in one of the key nightlife districts in the Cypriot capital, opened on 14th of October 2012, and is anticipated to
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Impatience at the slow pace of euro zone crisis action is bubbling over, with the European Central Bank's pledge to save the single currency yet to be backed up by action. Any hopes that a European Union leaders' summit in the coming week will break the logjam are likely to be forlorn, leaving the focus
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The ruling United Russia party won elections around the country on Sunday, early results showed, but opponents alleged widespread violations in the voting that will preserve President Vladimir Putin's dominance. The first big elections since Putin began a new six-year term in May will do little to appease opponents who say he has used election
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Billionaire Australians buying exclusive condominiums. Germans moving money from Swiss accounts. Secretive banking laws. Asia's premier wealth management centre. Low tax rates. As Singapore revels in its reputation as an open economy with the world's highest concentration of millionaires, the tiny island of 5.3 million people is also accused of being a magnet for tax
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An Austrian daredevil leapt into the stratosphere from a balloon near the edge of space 38 km above Earth on Sunday and safely landed, setting a record for the highest skydive and breaking the sound barrier in the process. Cheers broke out as Felix Baumgartner, 43, jumped from a skateboard- sized shelf outside the 3.3-by-2.4
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