. BY GEORGE MALEKOS Cloud computing is one of the hottest topics in the IT industry today and it offers new business opportunities and a technological revolution. According to the Topology Research Institute, the cloud computing service market will be worth 23.4 bln dollars in 2010 and 67 bln by 2013. Cyprus should find ways
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Stocks rose and the euro steadied on Wednesday as investors remained on guard ahead of the release of manufacturing surveys from the Europe's biggest economies after China's powerful factories showed a slight expansion. The Chinese manufacturing sector grew modestly in January, with an official PMI reading inching up to 50.5 from 50.3 in December, beating
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The Employers and Industrialists Federation, OEV, and the two main trade unions, SEK and PEO, reached an agreement brokered by Labour Minister Sotiroula Charalambous late Tuesday and avoided nationwide strikes, following the employers’ decision to impose a freeze on wages and the Cost of Living Allowance (COLA) for two years. According to the agreement, only
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Greek banking stocks jumped 11.4% and outperformed European peers on Tuesday after European Union officials said Athens could strike a debt swap deal with its private creditors within days. The index is up 72% in January, ending a six-month losing streak that had helped it fall 79% in 2011, to add to a 53% fall
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Debt-laden and recession-hit Greece must accelerate structural reforms and slow down on deficit reduction, the head of the IMF's inspection team for Greece was quoted as saying on Wednesday. Austerity policies imposed on Greece in 2010 in exchange for a 110-billion euro EU/IMF bailout have prompted social unrest, plunging Greece into a deeper-than-expected recession. A
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The name of a local student –Andriana – will be given to a satellite to be sent to space in the coming years as part of the EU’s satellite navigation system, Galileo. Schoolgirl Andriana Yiallourou , 10, won a national drawing competition with her drawing entitled “Exploring Space”. A total of 800 students, aged 9-11
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Unused funds from the current EU financial framework will be used to address youth unemployment and to promote competitiveness of Small and Medium Enterprises (SMEs), Head of the Representation of the European Commission in Cyprus Androulla Kaminara has said. Speaking during the presentation here of the annual Report of the European Court of Auditors (ECA)
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Unemployment rate in Cyprus reached 9.3% in December 2011, marking the second highest increase in a year across the EU. According to figures released by the statistical office of the European Union (Eurostat), the highest yearly increases were registered in Greece (13.9% to 19.2% between October 2010 and October 2011), Cyprus (6.1% to 9.3%) and
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Italian authorities have ended the search for bodies in the submerged sections of the capsized Costa Concordia, more than two weeks after the giant cruise liner capsized off the Tuscan coast, officials said on Tuesday. The civil protection authority said conditions on the wreck had made it impossible for divers to continue working safely in
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European Union lawmakers are seeking to further ratchet down the fees mobile operators charge users when they travel abroad, according to a draft plan seen by Reuters, taking aim at a lucrative source of industry profit. The EU Parliament is pushing for much steeper reductions in so-called roaming fees than those proposed last year by
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