Oil fell towards $115 a barrel on Thursday after a $3 rise the previous session following a larger-than-expected drop in U.S. crude and gasoline inventories. Concerns about the security of energy transit routes through the Caucasus have provided some support, although analysts said the mood is still predominantly bearish. U.S. data on Wednesday showed a
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Minister of Commerce, Industry and Tourism Antonis Paschalides has said that the gradual decline in oil prices internationally has resulted in a drop in the price of fuel, electricity, gas and other products in Cyprus. Speaking at Larnaca airport, Paschalides noted that oil companies have been decreasing their prices since July 14, when oil prices
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The Nasdaq turned positive on Thursday as investors snapped up beaten-down big-cap technology shares, including Research In Motion, while a rebound by financial companies after two days of losses helped the S&P 500 and the Dow to pare losses. Even so, investors were cautious after government data showed that consumer price pressures mounted in July
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Take a group of scientists and a video game designer and what do you get? Spore, a game that can help teach players some evolutionary biology. The game is latest from Will Wright, the man behind The Sims which has become the most successful video game ever and best seller for Electronic Arts Enc That
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Is the tech-savvy fashionista ready to shop by mobile phone? Polo Ralph Lauren Corp hopes so. Polo is the first luxury retailer to launch a mobile commerce site, hoping to stay ahead of a trend that is making its way from Asia to the United States, said David Lauren, senior vice president of advertising and
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After three months of decline, revenue from tourism in June 2008 rebounded by 10.7% over June the previous year to reach EUR 229.6 mln. Tourism arrivals in the same month also rebounded, rising by 8.8% over the year earlier to 307,237. Taking the whole year to date, tourism revenue is still depressed compared with 2007,
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Economic growth in Cyprus decelerated slightly in the second quarter of 2008, according to the “flash” estimate based on part-data released by the Statistical Service. Real GDP growth rose by 3.9% compared with the same period of 2007 in the second quarter, having risen by 4.1% in the first. The Statistical Service reported that the
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‘Oil’ and ‘Rice’ reflects shortages By Ben Blanchard BEIJING (Reuters) -Thought the tender song "You and Me" at the opening of the Beijing Olympics was about peace and friendship? More like rising oil and food prices, some Chinese are saying. "The Chinese name of the theme tune 'You and Me' is 'You (oil) and Mi
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Headed for teh beach on Ferragosto August 15 holiday STEPHEN BROWN ROME (Reuters) – Italians like their comforts at the beach but the days of renting a parasol and sunbed for a few weeks at a favourite seaside "stabilimento" may be over, as a looming recession forces holidaymakers to tighten their budgets. They will still
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TUI Travel, Europe's biggest travel firm, said on Thursday that demand for package holidays remains strong and it was confident of meeting its expectations for 2008 and 2009, despite slowing economies, Reuters reported. The group, created last year from the tie-up of TUI AG's travel division and Britain's First Choice, reported a 39% increase in
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