Mexico's America Movil is set to start selling Apple Inc's iPhone in Brazil on Friday but does not expect to have enough of the hugely popular devices to meet demand, an executive at the company's Brazilian unit said on Thursday. Claro, America Movil's Brazilian unit, received an initial lot of just 30,000 iPhones from Apple.
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Microsoft Corp Chief Executive Steve Ballmer said on Thursday he still sees a "certain buoyancy" among technology and telecommunications customers worldwide, despite recent U.S. economic woes. "Our industry is not immune to what goes on in the global economy. And yet as I travel…given the current circumstances, people still see a certain buoyancy in the
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HSBC Holdings, Europe's biggest bank, said on Friday it was cutting 1,100 jobs in its global banking and markets operation, or 4 percent of the unit's total, as it weathers the global financial crisis. "We're doing it because of market conditions and the economic environment, and our cautious outlook for 2009," Hong Kong-based spokesman Gareth
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The UK's top share index fell 1.8 percent early on Friday, led by financials, as the fate of a $700 billion U.S. rescue plan remained uncertain and after U.S. authorities closed Washington Mutual in the country's biggest bank failure. By 0726 GMT, the FTSE 100 was down 92 points at 5,105.0, after rallying 2 percent
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European stocks fell sharply in early trade on Friday, with banks hit hard by persistent uncertainty about the U.S. government's $700 billion financial sector rescue plan and the collapse of Washington Mutual. At 0715 GMT, the FTSEurofirst 300 index of top European shares was down 1.8 percent at 1,105.72 points, with banks the leading losers.
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A delegation of the International Monetary Fund (IMF) is currently in Cyprus to discuss the supervisory authorities’ system of the island has suggested that the Central Bank of Cyprus could be the independent body, which could supervise cooperative credit institutions. House of Representatives Committee's Chairwoman on Financial and Budgetary Affairs Antigoni Papadopoulou said that the
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The Cyprus Peace Platform, which is based in the Turkish-occupied areas of Cyprus, has called for a population census to take place at both communities of the island which will be monitored by international experts, prior to the referenda that will take place as agreed by the two leaders on the island. President Christofias and
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US Secretary of State Condoleezza Rice, who met with her Cypriot counterpart Marcos Kyprianou on Thursday in New York, referred to a new opportunity to solve the Cyprus problem and the new spirit developing for some time. During the meeting, Rice and Kyprianou discussed the Cyprus problem and the US official reiterated intentions to support
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The Cyprus Stock Exchange Council announced its extending the closing time of its Markets, so that from Monday 29/9/2008 they close at 17:20 instead of 17:00. The extension will be effective for the Main Market, Shipping, Parallel, Alternative and the Investment Companies Markets. The decision has been made taking into account the fact that the
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Two thirds of investors in a survey released on Thursday think the government's bailout plan is the best solution to the current economic crisis. In an overnight survey of about 3,200 investment professionals, the CFA Institute found the majority of investors felt the government's massive $700 billion bailout to save the financial system was on
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