Canada's population of senior citizens hit a record high in 2011 as the oldest of the baby boomer generation entered retirement, new census data showed on Tuesday, an omen of the soaring health and pension costs the government will face in coming years. Canadians aged 65 or older represented 14.8 percent of the population in
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Global equity markets rebounded on Tuesday on signs of fresh action to turn the tide of Europe's debilitating debt crisis, but bond prices held on to slim gains on concerns about Spain's banking system and its fast-deteriorating public finances. Wall Street opened higher and European stocks extended their gains, with Spanish stocks trimming heavy losses,
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Samsung Electronics launched its top-of-the-range Galaxy S3 smartphone in Europe on Tuesday, aiming to outsell its previous model that helped the South Korean company topple Apple as the world's largest smartphone maker. The Galaxy S3, which tracks the user's eye movements to keep the screen from dimming or turning off while in use, hits stores
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An earthquake killed at least 15 people in northern Italy on Tuesday, damaging buildings and spreading panic among thousands of residents still living in tents after a tremor in the same region destroyed their homes just over a week ago. Officials said several people were trapped under the rubble of houses and warehouses in the
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Poland and Ukraine on Tuesday reacted sharply to British press charges of racism and mob violence on their terraces and gave assurances that foreign footballers and fans alike would be safe during the Euro 2012 tournament they will co-host next month. The neighbours, who will share matches between 16 countries throughout June leading to a
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The Dutch government on Tuesday said the Syrian ambassador was no longer welcome in the Netherlands after a series of deadly attacks on civilians in Syria over the weekend. "The Netherlands has taken this decision in consultation with European Union partners," the Foreign Affairs Ministry said in a statement. The Netherlands cannot expel the Syrian
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The EU Council presidency is a fundamental feature of our Union and must be fully respected by all, President of the European Council Herman Van Rompuy said on Monday, referring to Turkey. In statements he made after a meeting he had with President Demetris Christofias in Nicosia, Van Rompuy said that during the meeting he
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. DR. JIM LEONTIADES Cyprus International Institute of Management Panicos Demetriades famously suggested some time ago that Germany should leave the Euro zone. He has since retracted this statement on assuming his position as head of the Central Bank of Cyprus. Nevertheless. However, his suggestion makes a lot of sense. He is not the only
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. There is hope for our national carrier after all. The troubled airline’s management has submitted a counter-proposal to the trade unions and the Ministry of Labour mediation service that foresees 250 redundancies and wage cuts of 5% to 19%, with lower-paid staff getting smaller reductions and the highest-paid dishing out the most. The latter
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. BY SHAVASB BOHDJALIAN Greeks have lost their stomach for austerity and the rest of the euro zone has lost its patience with Athens’ broken promises, an analyst told the Wall Street Journal last week summing up the mood in Europe but this does not mean that Greece will exit the eurozone or that the
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