. Turkey sees no point in pursuing unpopular reforms aimed at winning membership of the European Union if the bloc has already decided Ankara will never be admitted, a Turkish diplomat said on Tuesday. The comments, among the bluntest by a Turkish official on a flagging membership bid, underline growing frustration with entry talks. Ankara
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— Decision on LNG supplier in coming weeks — U.S. energy company Noble Energy Inc. hopes to accelerate plans to drill for natural gas off Cyprus, a senior company official said on Wednesday. "Our intention is to accelerate the drilling of the well," said Terry Gerhart, vice president of international operations at Noble. "Hopes are
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British inflation is just as likely to be above or below target in two years if interest rates rise as markets expect, the Bank of England said on Wednesday, opening the door to tighter monetary policy. The report is likely to reinforce expectations the BoE will start hiking rates soon from a record low 0.5%,
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Sales of new passenger cars in the European Union fell 1.4 percent year-on-year in January, industry association ACEA said on Wednesday. European carmakers are looking to Asia and Latin America for growth to offset stagnating demand closer to home, as scrappage schemes which boosted demand for cars during the crisis run out and fears for
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Cyprus' economic growth rate will range between 1.5% and 2.0% GDP in 2011, IMF preliminary figures released today show. IMF new estimates are slightly higher than the 2010 forecasts projecting a 1.5% to 1.8% growth for 2011. The Cypriot Finance Ministry projects economic growth of 1.5% GDP for 2011, whereas European Commission forecasts project a
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The EU Economic and Financial Affairs Council (ECOFIN) approved Tuesday Cyprus’ fiscal adjustment programme. The Council said that Cyprus has taken all necessary measures within the deadlines set out by ECOFIN to achieve fiscal adjustment by 2012. The Council shares the view of the Commission that on the basis of current information, Cyprus has undertaken
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Minister of Commerce, Industry and Tourism Antonis Paschalides said on Tuesday that ''Noble Energy'' company would begin works to extract natural gas in late 2011 or early 2012 from one of Cyprus' plots. Speaking after a meeting with Noble Energy representatives and the leadership of the Cyprus Energy Regulatory Authority, Paschalides said that the intention
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The trade deficit in Cyprus reached EUR 4,891.4 mln in January-November 2010 compared with EUR 4,326.8 mln in the corresponding period of 2009 according to revised data. Total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-November 2010 amounted to EUR 5,930.4 mln compared with EUR 5,215.3 mln in
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If France's presidential election outcome depends on the popularity of the would-be first ladies, Nicolas Sarkozy and his ex-supermodel wife will be no match for his heavy-hitter rivals, the Strauss-Kahn couple, a poll shows. Carla Bruni, who married Sarkozy after his election victory of 2007 and turns 44 in December, was trounced in the popularity
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Anyone wondering how veteran President Hosni Mubarak lost touch with Egyptian reality needs look no further than this Red Sea resort, where he took refuge after his overthrow last week by a popular uprising. With its tidy rows of palm trees and wide streets, Sharm el-Sheikh looks more like a Florida suburb than the teeming,
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