Chinese stocks tumbled 5 percent to a three-month low on Monday, weighing on Asian stocks and sapping investor willingness to put money at risk, while the yen rose sharply after Japanese voters swept the opposition into power. The election results, while widely anticipated, sparked some short-term buying of yen on hopes that new policies will
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The Statistical Service had announced the turnover indices (according to provisional estimates) for various branches of transport by activity for January – June 2009. The main developments by activity for the period of January – June 2009 were as follows. Land transport activity decreased by 13.7% compared to the corresponding period of 2008, while air
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The Statistical Service has announced the publication of the annual report “Industrial Statistics, 2008”. The report provides detailed data on the broad industrial sector, covering manufacturing. mining and quarrying and electricity and water supply. In 2008 the real rate of growth of industry (measured in terms of the value added at constant market prices of
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Intel Corp (INTC.O) raised its outlook for third-quarter revenue on Friday, citing stronger-than-expected demand for its microprocessors and chipsets and sending its shares up more than 2 percent. Intel, a bellwether for the technology industry whose products power personal and corporate computers, said it now sees third-quarter revenue ranging from $8.8 billion to $9.2 billion.
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Wall Street opened higher on Friday after an improved revenue forecast from Intel Corp (INTC.O) and better-than expected quarterly profit from Dell Inc (DELL.O) boosted the technology sector and consumer spending rose in July. The Dow Jones industrial average (.DJI) gained 31.06 points, or 0.32 percent, to 9,611.69. The Standard & Poor's 500 Index (.SPX)
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World stocks flirted with a year high on Friday and were on track to close with a seventh consecutive week of gains, as investors showed increasing confidence in global economic recovery. Wall Street looked likely to join in with a positive opening. The dollar struggled to recover from overnight losses but ended up weaker against
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Government Spokesman Stephanos Stephanou has said that all available options will be on the table for discussion between the President and the National Council, with regard to Turkey’s assessment by the European Union in December. The National Council, the top advisory body to President Demetris Christofias on the handling of the Cyprus question, comprises representatives
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US Stock futures rose on Friday fueled by higher oil prices and a better-than expected quarterly performance by computer maker Dell Inc. Shares of Dell, the world's No. 2 personal computer maker, rose 3 percent in premarket trading, a day after posting a stronger-than-expected profit and saying it cut costs and protected prices. Crude oil
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Microsoft Corp plans to slash the price of its high-end Xbox 360 video game console by $100, or 25 percent, stepping up the price war in the video game console market. Effective Friday, Microsoft will drop the price of the Xbox 360 Elite to $299.99 in the United States, just days after Sony Corp cut
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A united Cyprus, with a unified economy and a common currency, would lead very quickly to economic growth on the island, even though there is now economic discrepancy between the Greek Cypriot and the Turkish Cypriot communities, the head of working group on economic issues and former Minister of Finance, Michael Sarris believes. He stressed
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