Creating a single telecoms market in Europe and cutting the cost of doing business over the Internet could boost the region's economy by 4 percent by 2020, the European Commission will tell EU leaders this week. The push from the European Union's executive, when EU leaders meet on Oct. 24-25, comes as Neelie Kroes, the
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The Cypriot economy will return to growth on a sound and sustainable basis when the two fundamental problems of the economy, the imbalances of public finances and the untargeted and irrational credit expansion are rectified, Minister of Finance Harris Georgiades has said. Speaking during an event hosted by the office of the European Parliament in
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Facebook Inc removed a video of a woman being beheaded from its website on Tuesday and said it would use a broader set of criteria to determine when gory videos are permitted on the site. The move came a day after a public outcry over news reports that Facebook, the world's No. 1 social network
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Inflation in Australia quickened in the September quarter, the latest in the Asia Pacific region to show a pick-up in price pressures that could limit the scope for policymakers to inject more stimulus if needed. Australia's quarterly headline inflation sped up to 1.2 percent in the third quarter from 0.4 percent in the second, data
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Economist and member of the National Economy Council Marios Zachariades proposes the protection of borrowers against unilateral loan interest rates hikes as opposed to putting a cap on loan interest rates. In statements to CNA, on Tuesday, Zachariades, who clarifies that the positions he expresses are personal, notes that what he refers to is balancing
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The European Central Bank will outline on Wednesday how it plans to scrutinise top euro zone lenders before becoming their supervisor in a new role that puts its credibility on the line. The ECB wants to unearth potential risks hidden in banks' balance sheets before banking supervision is centralised under its roof from November 2014
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Greek lawmakers voted to cut off state funding to the far-right Golden Dawn party early on Wednesday, the latest effort by the government to clamp down on a party it has branded a "neo-Nazi criminal gang". Golden Dawn had steadily risen on the back of an anti-austerity and anti-immigrant agenda to become Greece's third-most popular
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John Hourican, the head of Royal Bank of Scotland’s investment banking arm, was picked as the new CEO for the Bank of Cyprus, ending weeks of uncertainty at the island’s biggest lender. The bank’s new board had finalised a short-list of four candidates for the top job, including Mike Aynsley, former CEO of the Irish
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Apple will give away operating and work software free to Mac computer users, challenging Microsoft's near-stranglehold on personal computing as the latter starts to make inroads into the mobile market. Apple revealed the surprise offer, available to all users of MacBooks and Mac computers, on Tuesday at the same time as it unveiled a slimmer,
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The dollar slid to a two-year low against the euro and global equity markets rose for a fifth straight session on Tuesday after weak U.S. jobs data reinforced expectations the Federal Reserve will keep its easy-money policy intact into 2014. The S&P 500 index, a benchmark for U.S. stocks, set an intraday record high, while
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