Asian stocks rose more than 2 percent on Monday, as investors chased bargains after details emerged about a U.S. government $700 billion bank bailout plan, increasing hopes the worst of the financial crisis may be over. However, the U.S. dollar eased and U.S. Treasury debt prices edged up, with market participants playing it safe before
More
Apple Inc said some power adapters for the latest iPhone can break and lead to the risk of electric shock and urged users to exchange them, although no injuries have been reported. The company said the ultra-compact USB adapters in question have metal prongs that can break off. They were supplied with 3G iPhones sold
More
Aspis Holdings Pcl (ASP.CY) announced that it will file an appeal against the administrative fine imposed by the Cyprus Securities and Exchange Commission (CySEC), which it said was unjustified and not warranted. Earlier, the CySEC said it decided to impose an administrative fine of EUR 100.000 on Aspis Holdings and a EUR 50.000 fine on
More
Laiki Investment EPEY Public Company Ltd (LI.CY) announced that on September 17, 2008 the CySEC approved a Document equivalent to a Prospectus for the offer and issue of up to 85,714,286 new shares of nominal value EUR0.34 to the shareholders of CLR Capital Public Limited (CLR.CY) as an exchange with the shares that they will
More
European Commission Vice-President Gunter Verheugen awarded twenty localities including the village of Agros in Cyprus with the title of “best local intangible heritage destination in Europe” on the occasion of the 7th European Tourism Forum in Bordeaux. The European Destinations of Excellence awards promote venues where commercial success goes hand in hand with social, cultural
More
Retail sales growth slowed in June, according to initial estimates from the Statistical Service. The provisional figures estimate that the turnover volume index of retail trade for June 2008 rose to 149.2, recording a rise of 4.6% compared with the same period of 2007. This is rather slower than the 11.9% and 14.1% growth rates
More
The Extraordinary General Meeting of shareholders of PrimeTel (PTL) approved unanimously a Board proposal to seek full control of Spidernet (SNET) by offering 3 new PTL shares for every 4 SNET shares and then issue 1:6 warrants in a deal valued by Financial Mirror at EUR 12 mln. The EGM, at which 91.65% of shareholder
More
Alitalia SpA was still flying on Friday but the Italian flag carrier faced liquidation in a matter of days after a rescue plan collapsed. The airline cancelled 20 flights at Rome's Fiumicino airport but blamed that on normal operational reasons rather than a lack of cash to buy fuel — something which could lead aviation
More
(Reuters) The U.N. Millennium Development Goals, approved in 2000 by U.N. member states and the world's top development organizations, are the theme of next week's General Assembly gathering of world leaders. The eight goals are meant to be achieved by 2015. Following is a description of them: SLASH POVERTY AND HUNGER * Cut in half
More
Russia is considering renewed ties with OPEC, a minister said on Friday, a move that could rattle nerves among energy consuming nations. Energy Minister Sergei Shmatko said Moscow will send a high-level delegation to the Organization of the Petroleum Exporting Countries' next meeting in Algeria on Dec. 17. "We are planning again to take part
More