Euro zone member Cyprus strongly hinted on Monday it may have to apply for an international bailout before the end of this month, both for its banks and its general coffers. "The issue is urgent. We know the recapitalisation of the (island's) banks must be completed by June 30, and there are a few days
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Volkswagen plans to nearly double its production in China in the next few years, according to a management board member who was recently appointed to head the group's operations in the country. "By 2018 we will raise our production capacity in the country to 4 million vehicles," Jochem Heizmann told German weekly magazine
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**Casinos lose appeal for Greek Cypriots ** Plastic card spending by Turkish Cypriots south of the Green Line fell for the 11th straight month in May, according to data from the dominant card provider JCC Payment Systems analysed by Sapienta Economics Ltd. Spending fell to EUR 1.4 mln from EUR 1.6 mln in May 2011,
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Consumer price inflation inched down to 2.95% in May, from 3.08% in April, largely owing to lower imported goods prices. The price of imported goods (excluding petroleum) was 0.2% lower in May than in the same month of 2011, whereas the price of locally produced products, rose by 8.1% compared with the year earlier. This
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When fitness instructor Shirley Archer plays Annie Lennox's song "17 Again" for her indoor cycling class, she urges students to connect with the vitality of their inner 17-year-old legs. When she teaches yoga she rolls out the harp solos. Experts say exercising to the proper music can boost your mood, kick your workout up a
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Traveling and looking for Internet access? A new smartphone app allows users to share mobile Web access for free with other people nearby who have the same app. Called Open Garden, the app forms a mesh network that enables each person connected to it to relay it to other users. "Every smartphone is a computer
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European equities leapt on Monday morning, adding to last week's recovery rally after a bailout for Spain's ailing banks prompted investors to scoop up battered financial shares, with Banco Santander surging 5.7 percent. At 0807 GMT, the FTSEurofirst 300 index of top European shares was up 1.8 percent at 1,000.08 points, while the euro zone's
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French President Francois Hollande is on track to win a solid parliamentary majority after a first-round election, bolstering his position as he tries to persuade Germany to promote growth more in tackling the euro zone crisis. Sunday's vote left Hollande's Socialist Party bloc likely to secure the 289 seats needed for an outright majority in
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Shares, commodities and the battered euro jumped on Monday after euro zone finance ministers agreed to lend Spain up to $125 billion to shore up its struggling banks, relieving markets that had feared a fiscal collapse in the country. The relief may be short-lived though, as investors look forward to a Greek national election on
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The Greek far-right politician who slapped a woman in the face and threw water in the face of another during a live TV election debate threatened to sue his victims on Saturday, after accusing them of provoking the attack. Ilias Kasidiaris, spokesman for the Golden Dawn party, has been in hiding since Thursday when he
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