Industrial production collapsed in January according to a newly devised index for industrial production. The industrial production index in reached 92.3 in January (2005=100), recording a fall of 9.8% compared with January 2008. Within the overall category of industrial production, the manufacturing index reached 87.6, recording a decrease of 9.9% compared with January 2008. Mining
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World oil demand will dive by a hefty 2.4 million barrels per day in 2009, the International Energy Agency said on Friday, citing the impact of prolonged economic recession on energy use. As the rate of contraction in oil consumption reached levels last seen in the early 1980s, it said outright demand for this year
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Asian shares rose on Friday, with South Korean stocks hitting a 6-month high after the country averted recession in the first quarter, as a Wall Street rally boosted risk demand around the region and dented the yen. Many financial centers in the region were closed for a long weekend, making investors nervous that gains made
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France's parliament rejected a bill on Thursday that proposed disconnecting Internet users if they download music or films illegally, with the ruling UMP party failing to turn out in force to approve the law. Backed by President Nicolas Sarkozy's government, the legislation was meant to quell the flow of free songs and films on the
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Nintendo Co Ltd said sales of its Wii game console have lost some steam in Japan, but it aims to boost demand again by launching a new version of its blockbuster "Wii Sports" software in June. Nintendo President Satoru Iwata said he had no plan to cut hardware prices. "Wii (demand) is not vigorous at
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Barclays Plc (BARC.L) has agreed to sell its iShares asset management business to private equity firm CVC Capital Partners for 3 billion pounds ($4.4 billion), but kept the right to hunt for a better deal for two months. The deal, which will be 70 percent financed by Barclays, will land a windfall of up to
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Japan's Nikkei stock average gained 0.5 percent on Friday, hitting a three-month closing high, though Mizuho Financial Group and other banks tumbled as worries about bank shareholding losses reignited. Sumitomo Mitsui Financial Group, Japan's third-largest bank, went untraded after it said it faces a net loss of $3.9 billion for the financial year just ended
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President of Cyprus Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will meet Friday in the framework of direct negotiations, which began last September, with a view to reach a settlement of the Cyprus problem. Last week’s meeting was cancelled due to Talat’s meeting with UN Secretary General Ban Ki-moon in Paris. During their
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Cyprus government pledges to maintain low corporate taxation thus supporting private initiative and the inflow of foreign investments, Cypriot Minister of Finance Charilaos Stavrakis said. Speaking during a conference titled ''Future of Cyprus as an International Business Centre'', held in Nicosia , Stavrakis said that “Cyprus has a comparative and competitive advantage as regards the
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The Annual General Meeting of Bank of Cyprus Public Company Ltd will be held at the Bank of Cyprus Group Headquarters (51 Stassinos Street, Ayia Paraskevi, Strovolos, Nicosia, Cyprus), on Wednesday, 13 May 2009 at 4.30pm, to transact the following business: To receive and consider the Directors’ report and the financial statements of the Company
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