President Francois Hollande puts his fiscal credibility on the line on Friday when he delivers France's toughest budget in 30 years in the face of a stagnant economy, record unemployment and plunging poll ratings. The Socialist leader's first annual budget, to be presented to the cabinet mid-morning, must make 30 billion euros ($39 billion) in
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Billionaire financier George Soros has committed $1.5 million to "Super PACs" backing President Barack Obama and Democrats running for Congress in the Nov. 6 election, officials with those groups said on Thursday. Soros – a prominent donor to liberal political causes – has pledged $1 million to Priorities USA Action, which is running ads to
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A plan to build the world's tallest Ferris wheel on New York's Staten Island, offering sweeping views of the Manhattan skyline, could hold the answer to a long-elusive goal: putting the most-overlooked of the city's five boroughs on the tourist map. The giant Ferris wheel, at 625 feet (190.5 metres), will be about half the
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Tourism is the hope and the "heavy artillery" of the Cypriot economy, the President of the Cyprus Tourism Organisation (CTO) Alekos Orountiotis has said. Orountiotis was speaking during a meeting with the press held here on Thursday on the occasion of World Tourism Day celebrated on September 27, under the title “Tourism and Sustainable Energy:
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The flow of deposits in the domestic banking system recorded in August a slight increase, according to data released by the Central Bank of Cyprus. The Bank announced on Thursday that deposits in domestic financial institutions recorded an increase of 0.5% in August on an annual basis or 837.9 million euro, reaching 70.66 billion euro
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Greek Defence Minister Panos Panagiotopoulos expressed, during the informal meeting of EU Defence Ministers held here, his country’s concern over a new massive influx of illegal immigrants from Arab and North Africa countries into Europe, in conjunction with developments in Syria. In a statement he made after the meeting, Panagiotopoulos said that “we asked for
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The smartphone with the super features shows up for the first time in Cyprus exclusively at MTN Stores just a few days after its global launch. The new iPhone 5 is here, at MTN Stores all over Cyprus: waiting for all the tech fans to take a look on it, test it, explore its new
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Russian billionaire Alexander Lebedev was charged on Wednesday with hooliganism and battery over a televised punch-up and faces up to five years in jail in what he says is revenge for criticizing President Vladimir Putin. The 52-year-old backer of British newspapers The Independent and London's Evening Standard, whose net worth was put at $1.1
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EU telecoms regulators will spell out on Thursday how they want to accelerate the use of "cloud" computing by public bodies and companies, in the hope of boosting the bloc's GDP by nearly 1 trillion euros through the next eight years. Concerns about privacy and data loss have hampered the take-up in Europe of cloud
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The European Union is stepping up a campaign to ease airline ownership restrictions around the world in a move to boost growth opportunities for its struggling carriers. Airlines in Europe suffered more than in other major regions following the global financial crisis and EU carriers are expected to lose $1.1 billion this year. Most countries
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