Oil rose to around $102 a barrel on Friday, underpinned by Hurricane Ike which could threaten oil refineries in the United States, the world's biggest energy consumer. U.S. crude for October delivery rose $1.27 to $102.14 a barrel by 1058 GMT, having settled $1.71 lower on Thursday, when prices dipped as low as $100.10, their
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European shares advanced on Friday as commodities stocks tracked a rise in crude and metals prices, while banks gathered strength on talks about a possible sale of U.S. investment bank Lehman Brothers. By 1135 GMT, the FTSEurofirst 300 index of top European shares was up 0.9% at 1,151.28 points, after falling 0.65% in the previous
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Japan's Matsushita said it would launch the world's smallest digital single-lens reflex (SLR) camera, targeting female users who want a high-performance machine that does not weigh too much. SLR cameras, high-end models with interchangeable lenses, are the fastest growing and most lucrative segment of the digital camera market. But some compact camera users are reluctant
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Amazon.com Inc has appointed a senior Microsoft Corp executive to head its U.S. advertising sales as the global Internet retailer ramps up its online ad business, The New York Post reported. Lisa Utzschneider, who worked at Microsoft for 10 years, will become senior vice president of national ad sales for Amazon, the Post said citing
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Minister of Foreign Affairs Marcos Kyprianou has called on Turkey to fulfill its obligations emanating from international law and the decisions of the European Court of Human Rights (ECHR) concerning the issue of missing persons in Cyprus. Kyprianou, who visited the Anthropological Laboratory of the Committee on Missing Persons (CMP) and the Judicial Genetics Laboratory
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Investor risk has receded Prime Minister Vladimir Putin brushed off concerns over steep falls in Russia's stock market and billions of dollars of withdrawn foreign investment, saying the economy was well placed to cope. Speaking to reporters at his retreat outside the Black Sea resort of Sochi, he dismissed suggestions that Russia's war with Georgia
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By Jo Winterbottom (Reuters) Italy may have earned a bad name for changing the rules to rescue its corporations, but in these straitened times Prime Minister Silvio Berlusconi's bespoke bailout of airline Alitalia puts him in illustrious company. Manoeuvres like last month's change to Italian bankruptcy law for companies providing a public service, and suspension
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LONDON, Sept 12 (Reuters) – Britain's third largest package holiday operator, XL Leisure Group, said on Friday it had gone into administration and grounded all flights, leaving thousands of holidaymakers stranded. In a statement on its website, XL said its companies, which include Kosmar Villa Holidays and The Really Great Holiday Company, had suffered from
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Lambros Christophi has resigned from his position as CEO of Aspis Holdings Pcl (ASP.CY) and from the Boards of all Group companies citing personal reasons and because as he put it, he wants to change his lifestyle. The energetic CEO of Aspis who together with Group Chairman Pavlos Psomiades transformed the Group into a major
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The Cyprus Inland Revenue Department (IRD) announced that total tax receipts during the period January – August 2008 increased by 2.0% yoy to EUR 1.3 bln. The marginal improvement is primarily attributed with higher revenues associated with Special Contribution for Defence up by 23.0% yoy to EUR 274.3mln. Revenue from Corporation Tax advanced by 8.8%
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