The Mall of Cyprus, the biggest shopping mall of Cyprus is celebrating its first Anniversary with a big bang and host of events to mark the occasion with visionary entrepreneur Nicos Shacolas welcoming the warm welcome that the Mall has received from the Cyprus public. The numbers speak for themselves regarding the success of the
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France said on Friday it would fail to meet deficit goals agreed with the European Union, with rising debt and slowing growth leaving President Nicolas Sarkozy little room to boost the flagging economy. The government unveiled its 2009 budget plans with a deficit forecast of 2.7 percent of gross domestic product for this year and
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The London Stock Exchange said volatile markets boosted trading volumes in the first five months of its financial year, but its shares fell on continued concern over competition. In a statement on Friday, the LSE said the daily average number of trades on its flagship SETS trading platform rose to 699,000 in the five months
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Washington's failure to agree a bailout plan for the U.S. shattered banking system sent global stocks sharply lower on Friday and weakened the dollar, while the crisis put money markets under massive stress. Government bond yields fell as investors sought safe havens. "It's all about ongoing concerns about the banking crisis and where it's going
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Average house prices in England and Wales fell 1.9 percent in the month of August, leaving them 4.6 percent below their level a year ago, government figures showed on Friday. The figures from the Land Registry are based on sale completions and therefore lag surveys by mortgage lenders which are already showing double-digit annual declines.
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German airline Lufthansa met Alitalia's unions on Friday to discuss a possible stake in the struggling airline as Italy pushed to wrap up labour talks to seal an investor bailout. Rivals Lufthansa and Air France-KLM are jostling to grab a foothold in the attractive Italian market through an alliance with Alitalia after its proposed relaunch
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President of the Republic of Cyprus Demetris Christofias hosted a luncheon on Thursday in New York for the Representatives of the five permanent members of the UN Security Council, whom he briefed on the direct negotiations underway for a Cyprus settlement and the positions of the Greek Cypriot side, followed by an exchange of views.
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Three members of The Elders group, Desmond Tutu, Jimmy Carter and Lakhdar Brahimi, will visit Cyprus next month to lend their support to the leaders of the Greek Cypriot and Turkish Cypriot communities for their efforts to reunify the island, the UN announced on Friday. Elders Chairman Archbishop Tutu, former U.S. President Carter and former
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The world's top cell phone maker Nokia will unveil its long-awaited first touch screen phone at a media and analyst event in London next week, two industry sources told Reuters on Friday. Both sources said Nokia was set to unveil the phone, codenamed "Tube," on Oct 2. A Nokia spokeswoman declined to comment. Smaller handset
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Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. The rescue marks a historic step to clean up a U.S. financial system littered with toxic mortgage debt. Washington Mutual, the largest
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