U.S. consumer prices rose at a slightly faster-than-expected 0.7 percent pace in June, but the bulk of the increase was due to soaring gasoline prices and the core measure of inflation remained relatively tame, government data on Wednesday showed. The Labor Department said the rise in the Consumer Price Index was the largest since July
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The decline in the value of trade in the world's major industrialised economies began to slow in the first four months of 2009, though volumes continued to fall at double digit rates in the first quarter, the OECD said on Wednesday. "Since July 2008, G7 total merchandise trade values continued to decline, but at a
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By Erik Kirschbaum As Germany heads to an election with its banks unwilling to risk big loans, companies and politicians are fumbling towards a new political order. Revolving around the rules governing a 115-billion euro ($160 billion) government fund to help troubled firms, it goes like this. Chancellor Angela Merkel's government insists the rules are
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O2, the British mobile phone unit of Spain's Telefonica, launched Britain's first cash-card service from a mobile operator on Wednesday to give itself a foothold in the promising mobile-money market. The Visa pre-pay cards issued in partnership with NatWest bank can be loaded online or in stores and used in outlets that accept Visa debit
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Cyprus commemorated today all those killed defending the Republic, during the 1974 military coup, on July 15, against the democratically elected President of Cyprus. The coup, engineered by the Greek military junta, then ruling Greece, was followed by the Turkish invasion five days later, which resulted in the occupation of Cyprus' northern third. The Cypriot
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President Demetris Christofias believes that a political settlement in Cyprus is possible by December, if Turkey and the Turkish Cypriot leadership change course. President Christofias' comments came in the wake of positions expressed by Turkish President Abdullah Gul and Turkish Cypriot leader Mehmet Ali Talat in Ankara, that the current UN-led negotiations could conclude by
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The Board of Directors of Bank of Cyprus Public Company Ltd will convene on Monday 31 August 2009 to examine the Bank of Cyprus Group financial results for the six months ended 30 June 2009 (1st Half 2009). On the same day, after the market close, the financial results will be announced to the Stock
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Oil rose above $60 a barrel on Wednesday, supported by data showing a fall in gasoline stocks and after strong company earnings lifted expectations for economic recovery. U.S. crude for August delivery rose 99 cents to $60.51 a barrel by 0920 GMT and Brent rose $1.22 to $62.08. The contract settled at $59.52 a barrel
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The Cyprus tourism sector suffered another steep decline in June, with arrivals at only 260,931, a drop of 15.1% compared with the 307,237 recorded in June 2008. The main reason was a weak UK market hobbled by rising unemployment, a weak sterling and unattractive prices in Cyprus. Arrivals from the UK, which is the largest
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Global stocks rose to their highest level in nearly two weeks on Wednesday as blockbuster results from major firms such as tech bellwether Intel Corp underpinned appetite for riskier assets. Goldman Sachs and Intel posted solid results while Johnson & Johnson beat analysts' forecasts with a 5 percent fall in second-quarter earnings, getting the U.S.
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