Energy supply security, oil reserves and energy projects have been discussed at the EU Council of Ministers for Energy meeting. Cyprus was represented at the Council by Permanent Secretary of the Ministry of Commerce, Industry and Tourism Efstathios Hamboullas. During the meeting, Hamboullas welcomed the new proposed measures for compulsory storage of strategic oil reserves
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A total of 98.3% of Internal Market rules have been written into Cyprus’ national law by 10 November 2008, according to the SOLVIT and Citizens Signpost Service (CSS) annual reports, issued on Thursday by the European Commission. The three reports – Scoreboard, SOLVIT and CSS – are now being issued as a package highlighting the
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Two U.S. teams have developed new materials that may pave the way for ever smaller, faster and more powerful electronics as current semiconductor technology begins to reach the limits of miniaturization. One team has made tiny transistors — the building block of computer processors — a fraction of the size of those used on advanced
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World stocks fell to their lowest since November on Friday, eyeing six-year lows, and the euro dropped as concern about the global economy and the banking sector drove investors towards government bonds and gold. European stocks followed U.S. stocks lower after the Dow hit a six-year low on Thursday on weak U.S. employment data and
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By Jane Sutton Festivals celebrating everything from high culture to humble farm products are struggling in the United States as sponsors trim their support in tough times and revelers tighten their purse strings. The Geraldine R. Dodge Foundation's biennial poetry festival is billed as America's largest and has drawn prize-winning poets, scholars and word-lovers to
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U.S. President Barack Obama on Thursday assured Canada, his country's biggest trading partner, that he would not pursue protectionist policies, and the two neighbors agreed to cooperate on cleaner energy technology. Obama, on his first trip abroad as president, sought in talks with Prime Minister Stephen Harper to allay Canadian concerns raised by a "Buy
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Scarce jobs, falling wages, sputtering assembly lines and labour scams are some of the rising problems faced by millions of Chinese migrant workers struggling to weather the downturn in export hubs like Guangdong. Twenty million workers have lost their jobs in Guangdong alone as economic growth has slumped, but flareups of social unrest have not
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Texas billionaire Allen Stanford, accused of an $8 billion fraud that spooked investors around the world, was found in Virginia on Thursday and FBI agents served him with a complaint from U.S. regulators. FBI spokesman Richard Kolko said the Federal Bureau of Investigation had acted at the request of the U.S. Securities and Exchange Commission
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Cyprus Government Spokesman Stephanos Stephanou has said that President Demetris Christofias has not undertaken any commitment to submit an application for Cyprus’ accession to Partnership for Peace (PFP). The Cypriot official was responding to questions regarding an amendment submitted by Cypriot MEP Yiannakis Matsis on the report by Finish MEP Ari Vatanen on the role
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Japan's central bank said on Friday a deterioration in corporate profits had gathered pace, as investors fretted about the health of the rich world's big banks and the economic gloom gripping cash-strapped eastern Europe. Asian stocks fell, after the Dow Jones industrial average had closed at its the lowest level since October 2002 following a
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