The CSE Council announced the new composition of the FTSE/CySE20 Index as at November 17, 2010 for the six-month period from April 2, 2010 to September 30, 2010, with two changes. The companies excluded from the index are Ocean Tankers Holdings Public Company and SFS Group Public Company replaced by Vassiliko Cement Works Public Company
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European planemaker Airbus announced plans on Wednesday to upgrade its best-selling A320 family of passenger jets with new engines to offer airlines precious fuel savings as it fends off upstart competitors. Airbus said deliveries of the improved "A320neo" family would begin in the spring of 2016 and that it would invest just over 1 billion
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Tour operator Thomas Cook said it planned to save between 40 mln and 50 mln pounds ($78 mln) through cost savings in its British business after reporting full-year earnings at the lower end of expectations. Europe's second-biggest travel firm said it planned to cut 500 managerial and support jobs in the UK, renegotiate supplier costs
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U.S. regulators will be under pressure on Wednesday to show lawmakers they are better policing foreclosures amid widespread evidence that lenders used shoddy paperwork to evict delinquent borrowers. The Senate Banking Committee is holding a hearing on problems in the mortgage servicing industry and whether they pose a broader risk to the economy or amount
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Japan's Nikkei average edged up 0.5% on Wednesday after falling nearly 2% the previous day when a liquidity squeeze hit Chinese shares, and market players said they would continue looking to Chinese equities and U.S. economic data for direction. The Nikkei gained 8% in November, however, and analysts said recent yen weakness and expectations of
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Cyprus may pick its natural gas supplier for the next 20 years within the coming month, the head of the island's state electricity authority said on Tuesday. Now exclusively reliant on heavy fuel, authorities are conducting negotiations with short-listed companies for natural gas to come on stream by 2014. A government controlled company, Defa, is
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Illegal migration has dropped at borders all over the EU in the first nine months of the year except for Greece's frontier with Turkey, where five times as many illegal crossings were detected, the EU border agency said. Illegal border crossings decreased by 99% in Spain's Canary islands in this period and by two-thirds in
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Egypt's ruling party won 209 seats of the 508 that were up for grabs in the first round of a parliamentary election while opposition parties took just five seats, an Egyptian newspaper reported on Wednesday. State-owned al-Akhbar cited results announced by the High Election Commission, confirming that President Hosni Mubarak's National Democratic Party (NDP) was
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Gold rallied over 1% to a 2-1/2 week peak on Tuesday and euro-priced bullion set a fresh record high as concern over sovereign debt levels in the euro zone fuelled buying of the metal as a safe store of value. A weekend rescue package for Ireland failed to assuage investor jitters over the spread of
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European stocks dipped on Tuesday, struggling to halt a sharp three-week sell-off as investors continued to dump banking shares on mounting fears of a domino effect in the euro zone after Ireland's bailout. The FTSEurofirst 300 closed 0.2% lower at 1,067.22 points, posting a 1.8% loss for November, the index's heaviest monthly slump since May.
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