British aerospace and automotive engineer GKN Plc added to gloom in the jobs market by announcing a further 1,400 layoffs on Wednesday and plans for more cuts for 2009. Pretax profit will come in at the higher end of the 150 million-170 million pound range it gave in November, it said in a trading update,
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U.S. President Barack Obama's $825 billion package to stem the U.S. recession headed toward anticipated passage on Wednesday in a sharply divided House of Representatives. Most House Republicans were expected to oppose the proposal, saying it needs more tax cuts and less spending, but Democrats were confident that they had the votes to push it
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Confidence among leaders of the world's top companies meeting in Davos has nosedived to a new low, with recession and a worsening credit crisis torpedoing faith in corporate prospects. The findings from a poll of more than 1,100 CEOs sets a grim backdrop to a four-day meeting of the world's business and political elite which
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Asian shares rose on Wednesday, helped by gains on Wall Street, but Japan lagged as exporters such as Honda Motor Co lost ground on news that U.S. consumer confidence has slumped to record lows. The dollar edged up 0.1 percent to 89.09 yen as gains in stock markets prompted investors to dump the safe-haven Japanese
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Total income from Customs and Excise department in 2008 recorded an increase of 8.59% compared to 2007. According to figures published today by the Department based on preliminary figures for December 2008, total income from Customs and VAT for the period January – December 2008 reached 2.62 billion euro, compared to 2.41 billion euro in
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The total number of motor vehicles registrations in Cyprus during 2008 increased by 5.2%, but they registered a sharp decline in December, according to the Statistical Service of Cyprus. According to a report issued by the Service entitled ''Registration of Motor Vehicles'' for the period January – December 2008, the total number of motor vehicles registered
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Industrial output in 2008 rose by 2.7% according to the latest figures from the Statistical Service. Within the general category of industry, mining and quarrying rose by 8.1% and manufacturing by 3.3%. Electicity, gas and watersupply fell by 0.1%. However, this is related to the drought which has led the authorities to make regular cuts
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Registrations of motor vehicles rose by 5.2% in 2008, according to the latest figures from the Statistical Service. This was much lower than the 33.1% increase recorded in 2007. However, that was a result of changes in taxes that encouraged a surge in sales. Monthly data show that car registrations have been a little volatile
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Cyprus will file a case with the European Court of Human Rights against Turkey to clarify the fate of some 1,500 people who went missing during the 1974 Turkish invasion, the government spokesman said on Tuesday. "It was decided to take the missing persons' issue to the Permanent Members of the Council of Europe in
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Cyprus Minister of Commerce, Industry and Tourism, Antonis Paschalides departs tomorrow for Prague, in order to participate in the Informal Meeting of, to be held on 29 – 30 January 2009. Speaking here today, after a meeting with the Lord Mayor of the City of London, Pashalides said that this would be the first meeting
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