A group of European regulators has written to Google Inc calling on it to halt the introduction of its new privacy policy, saying it needs to investigate whether the proposals sufficiently protect users' personal data. Google said in January it was simplifying its privacy regulations, consolidating 60 guidelines into a single policy that will function
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Irish low-cost airline Ryanair announced 26 new routes from Budapest on Friday in a move to capitalise on the grounding of Hungarian airline Malev over unpaid debts. Hungarian flag-carrier Malev ceased operating early on Friday, ending 66 years of almost continuous service, after its planes were held overseas for unpaid debts. Ryanair, which in January
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The International Monetary Fund should proceed with talks on increasing the size of its warchest at the same time as Europe discusses how to build a firewall to contain its debt crisis, a senior official from the fund said on Friday. Emerging countries understand the need to boost the IMF's resources as Europe's debt crisis
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Hungarian flag-carrier Malev ceased operating early on Friday morning after 66 years of almost continuous service, after its planes were held overseas for unpaid debts. Hungary's national airline had been placed under extraordinary protection from creditors and a receiver was appointed by the government earlier this week. Malev said its suppliers had lost confidence and
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Fitch Rating downgraded on Thursday three Cypriot banks by one notch since finding private capital to cover their capital needs until June will be difficult. Fitch downgraded the three banks to BB+ from BBB- with negative outlook. A press release issued by Fitch said it has taken rating actions on three Cyprus Banks, namely Bank
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Hackers associated with the activist group Anonymous posted a protest against Greece's EU and IMF-inspired austerity policies on the website of the country's justice ministry on Friday, a ministry spokeswoman said. The site was taken offline until it was secure, she said. Hackers involved with the loosely organised group Anonymous have been linked to attacks
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The Cyprus government is considering selling most if not all of its majority stake in troubled state-controlled Cyprus Airways to shore up the national carrier’s ailing finances. The airline has gone through several overhauls in recent years but has been hobbled by stiff competition from cheaper carriers on its most lucrative routes to Greece and
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Spain and France gained fresh relief at bond auctions on Thursday, extending a rally in euro zone government debt markets since the European Central Bank flooded banks with cheap money last month. But dismal corporate results showed Europe's "real economy" is suffering increasingly from the currency area's sovereign debt crisis after unemployment hit a new
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Ailing Japanese electronics giant Sony Corp warned it was heading for a bigger-than-expected $2.9 billion annual loss, presenting a daunting task for incoming CEO Kazuo Hirai, who vowed to move quickly to turn things around. Overtaken by more innovative rivals such as Apple Inc and Samsung Electronics over the past decade, Sony posted a $2.1
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Russia’s Deputy Minister of Energy Yury Sentyurin will be visiting Cyprus next week for the Russia-Cyprus Business and Investment Forum to take place Friday 10th in the coastal town of Limassol. Sentyurin will be moderating a panel discussion entitled “Business Opportunities”. Speaking to the press on Thursday, Fedias Pilides, President of the Cyprus Chamber of
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