The uprisings that swept the Middle East this year have cost the most affected countries more than $55 billion, a new report says, but the resulting high oil prices have strengthened other producing countries. A statistical analysis of International Monetary Fund (IMF) data by political risk consultancy Geopolicity showed that countries that had seen the
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The euro zone debt crisis will dominate a summit of G20 finance chiefs and central bank heads in Paris, with a downgrade of Spain's credit rating highlighting the risk of a much larger economy than Greece coming under threat. French and German officials are trying to put flesh on the bones of a crisis resolution
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Tourist arrivals from Russia to Cyprus increased by almost 50% in September, compared to the same period last year. According to data released Thursday by the Statistical Service of the Republic of Cyprus, overall tourist arrivals in September 2011 recorded an increase of 5,2%, compared to September 2010 figures. In particular, arrivals of tourists reached
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Cypriot-flagged sailboat ''Running on Waves'' begins December scheduled cruises from Larnaka port to Israel. Speaking at a press conference in the coastal town of Larnaka, spokesman of the cruises Andreas Koufteros said that the sail boat, which will have a capacity of 45 passengers, will begin December cruises from Larnaka to Israel. Next summer, the
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On Saturday, Kanika Syal will wake up before dawn to begin a fast at sunrise, and not eat or drink until she sees the moon at night — all in the hope her husband will have a long life. Karva Chauth is a centuries-old tradition observed annually in north India, where women dress up and
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Apple Inc's new iPhone went on sale in stores across the globe on Friday, with fans snapping up the final gadget unveiled during Steve Jobs' lifetime, many buying the phone as a tribute to the former Apple boss. Hundreds queued around city blocks in Sydney and Tokyo to get their hands on the iPhone 4S,
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Google Inc's results trounced Wall Street expectations with the help of strong advertising sales and deft cost controls, driving its shares roughly 6% higher. The Internet search and advertising leader, benefiting from a growing online ad market and sharper research focus, increased its profit by 26% and revenue by 37% in the third quarter. A
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Brent crude snapped six sessions of gains on Thursday, trading slightly lower after data showed further declines in oil demand from No. 2 consumer China. Crude oil imports into China, one of the largest engines of demand growth, dropped 12% in September from last year's record high and were below 5 million bpd for the
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Standard and Poor's cut Spain's credit rating on Friday, sending the euro lower and underlining the challenges facing Europe's big powers as they prepare to meet G20 counterparts over the euro-zone debt crisis. The rating agency, whose move mirrored last week's downgrade of Spain by Fitch, cited Spain's high unemployment, tightening credit and high private-sector
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China's consumer inflation dipped to 6.1% in September, retreating further from three-year highs, although stubborn food price pressures will deter the central bank from loosening its policy reins anytime soon. A slowdown in price rises would be welcomed by policymakers as confirmation that a flurry of increases in interest rates and bank reserve requirements is
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