Oil rose more than $2 to over $109 a barrel on Wednesday as concerns about U.S. fuel supply outweighed anxiety about the U.S. government's $700 billion plan to rescue the finance industry. U.S. crude traded up $2.42 to $109.03 a barrel by 1122 GMT, while London Brent crude gained $2.42 to trade at $105.50 a
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Britain's biggest spread-betting firm IG Group said on Wednesday it had agreed to buy 87.5 percent of Japanese online foreign exchange trading firm FXOnline Japan KK for 112.2 million pounds ($207.7 million). Shares in IG rose more than 6 percent as analysts welcomed what they said was a good strategic fit that was reasonably priced
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The Lefkosia Tourism Development and Promotion Company will organise a series of events under the slogan “come to meet Nicosia” this Saturday, September 27, to mark International Tourism Day. Speaking during a press conference here Wednesday, the President of the Company and of the Nicosia Chamber of Commerce and Industry, Christodoulos Angastiniotis said that the
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The Cyprus Police believe they have captured the largest hard drug trafficking gang, according to Chief of Police Iacovos Papacostas. Four persons, aged 30 to 64, were arrested in the early hours of Wednesday, and the Police confiscated 370 grams of heroin, in the Protaras – Ayia Napa area, on the east. The 30-year-old is
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The U.S. Federal Reserve said on Wednesday that it had set up $30 bln worth of new currency swaps with central banks in Australia and Scandinavia, marking its latest bid to ease global credit market strains. The action comes on top of $247 bln that has already been committed to currency swaps with other major
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Mobile phone users can expect the cost of sending text messages from abroad in the EU to be much cheaper next summer. The European Commission today proposed to reduce the price of roaming text messages by 60% as of 1 July 2009. EU citizens travelling in other EU countries should pay no more than €0.11
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European shares rose early on Wednesday, helped by EDF's agreed bid for British Energy and news that Warren Buffett's Berkshire Hathaway Inc will invest $5 bln in U.S. Goldman Sachs. By 0846 GMT, the FTSEurofirst 300 index of top European shares was up 0.4% at 1,113.30 points after rising as high as 1,116.45. The benchmark
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Warren Buffett's $5 bln investment in Goldman Sachs brought good news to global markets worried that architects of a $700 bln bailout plan would not be able to convince U.S. lawmakers to move swiftly. Sumitomo Mitsui Financial Group also plans to invest in Goldman, Japanese media reported on Wednesday, in what would be the country's
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Britain's leading share index ticked down early on Wednesday as weakness in oil producers and banks eclipsed gains in British Energy after France's EDF launched a bid for the group. British Energy surged 5.8% to top the FTSE 100 gainers after France's EDF launched a 12.5 bln pound ($23.14 bln) agreed takeover bid on the
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The Cypriot economy might be affected to a certain extent from the world financial crisis, Finance Minister Charilaos Stavrakis has said, adding that at this stage there is no cause for concern. Speaking to the press after a lecture at Cyprus International Institute of Management on ''The international financial crisis and its possible effects on
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