The London Stock Exchange suspended trading on Monday in the latest of a series of systems problems, and several hours into its normal trading day was still battling to reconnect customers. The LSE, the the world number-three exchange by traded volume in the first half of this year, opened for trading as usual at 0700
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OPEC ministers on Monday gathered in Vienna ahead of a meeting to review output policy, but were widely expected to leave formal targets unchanged, especially as a powerful hurricane could lift oil prices. A hard core of ministers has said the market is over-supplied following months of over-production led by top exporter Saudi Arabia. They
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Cyprus continues to enjoy low unemployment, with the unemployed persons registered at the District Labour Offices on the last day of August 2008 falling by 1,082 to 10,801, compared with 11,883 in July 2008. The Statistical Service reports that the decrease was mainly recorded in the sectors of education, public administration and hotels and restaurants.
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The apparent rebound in motor vehicle registrations in July was shortlived as registrations in July fell by 6% over the year-earlier period to 4,762 in August. Registrations of motor vehicles had rebounded in July, rising by 18.2% over the same month of 2007 to 7,077. However, the annual trend is still upwards. Total registrations in
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The EU-harmonised inflation rate in Cyprus fell slightly to 5.1% over the same period of the previous year in August, from 5.3% in July, thanks to falling oil prices. This performance was similar to the consumer price inflation rate reported last week, which showed the CPI rate falling to 5.4% from 5.6% in July. However,
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The U.S. government move to take control of Fannie Mae and Freddie Mac sent global stocks jumping and bond prices falling on Monday as investors unwound trades set to protect them against impending financial meltdown. The dollar recovered after taking an initial hit in Asia. Oil rose above $108 a barrel. In Europe, the FTSEurofirst
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The number of active accounts on the Cyprus Stock Exchange is down at 5101 by June 2008 continuing a steady decline in tandem with the decline in equity prices, which are off by about 40% since the beginning of the year. The number of active accounts was 7783 in January 2008. The daily average of
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The Commission for the Protection of Competition (CPC) at its meeting held on 4 September 2008 that after fully re-examining the concentration of operations of Cyprus Cement Public Co Ltd (CCC.CY) and Vassiliko Cement Public Co Ltd (VCW.CY), it declared the approval of the aforementioned acquisition subject to certain terms and commitments undertaken by both
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CNBC has entered into an alliance with LinkedIn under which the financial news channel will air content generated by the professional networking site's 27 million members. CNBC, which is part of General Electric Co, will integrate LinkedIn's networking functionality into its website CNBC.com, enabling users to share and discuss news with their professional contacts. Community-generated
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The Association of National Advertisers sent a letter objecting to the proposed Internet search advertising partnership between Yahoo Inc and Google Inc to government regulators reviewing the deal, the group said on Sunday. The letter to Assistant Attorney General Thomas Barnett, noted that "a Google-Yahoo partnership will control 90 percent of search advertising inventory," the
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