Armenian President Serzh Sargsyan has expressed to President of the Republic of Cyprus Demetris Christofias his country's support to the struggle of the people of Cyprus for the restoration of the island's territorial integrity and its unity. Sargsyan has also expressed hope that negotiations, which begin in early September between the Greek Cypriot and the
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U.S. retail sales edged down 0.1 percent in July on a big drop at auto dealers, the government said on Wednesday in a report suggesting consumers were straining to keep spending up amid rising prices. A separate report showed a bigger-than-expected jump in import prices, underlining the pressure costlier oil was putting on the economy.
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The Ba3 issuer rating of the Metropolitan Municipality of Istanbul is based on the city's continuing sound fiscal management, reflected in strong gross operating margins over time and good financial flexibility, Moody's Investors Service said in its annual credit report on the municipality. The rating also reflects the growing debt burden and fiscal challenges associated
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Maruti Suzuki India announced that it has registered net sales of USD 1,114.5 mln in the first quarter of 2008-09, a growth of 20.9% compared to the same period last year. Net profit during the first quarter of 2008-09 was USD 110 mln as USD 117.5 mln during the same period of the last fiscal
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Passenger traffic at Larnaca airport has reached a new high for the year but not an all-time record, as a total 529 flights over the next three days will carry 76,000 travelers to and from Cyprus. In all, 35,000 passengers were expected to travel on Wednesday, 16,000 on Thursday and 25,000 on Friday, the most
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Hellenic Bank, Cyprus’ third largest lender with a presence in Greece announced the purchase of a building in Moscow, which will be used to house the Head office and the bank’s first branch in Russia. The purchase was realized with the acquisition from a subsidiary of Hellenic Bank in Cyprus, of the entire capital of
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British inflation should fall below the central bank's 2% target in two years if interest rates stay at 5%, the Bank of England said on Wednesday, prompting markets to price in a rate cut by year-end. The BoE's quarterly Inflation Report showed the CPI rate spiking close to 5% before falling back dramatically as the
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Sony Corp plans to sell ultra-thin television based on organic light-emitting diode technology as early as in 2009 in Europe, the world's largest flat TV market, the Nikkei business daily said on Wednesday. OLED TVs, which are thinner and more energy efficient, offer brighter colors than liquid crystal display (LCD) and plasma sets, are expected
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Yahoo Inc is in the process of approving the appointments of former Viacom Inc CEO Frank Biondi and former Nextel Partners CEO John Chapple to its board and is expected to name the appointees by Friday, a person familiar with the matter said on Tuesday. The appointments are not yet final but likely, the source
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Best Buy Co Inc will be the first national retailer to sell Apple Inc's iPhone in the United States in a partnership that could help drive sales of a device expected to be one of the hottest gadgets this holiday season. Best Buy, the leading U.S. electronics chain, will announce on Wednesday that it will
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