Two senior members of the communist party Akel and a businessman were arrested Wednesday for their involvement in a multi-million property scam where the Cyta staff pension fund was used to buy a plot of land near Larnaca from the original Turkish Cypriot owner and resell it at a higher price to the telco for
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The Cyprus government and Houston-based Noble Energy will jointly release the preliminary results of the appraisal drilling for hydrocarbon reserves in block 12 of the Cyprus Exclusive Economic Zone (EZZ), amid press reports over the weekend that the results will be lower than the initial reserve estimates announced last year. The Houston-based exploration and production
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New Yorkers eating out more, Zagat survey finds Michelin handed out a record number of its coveted stars to restaurants in New York City, where reviewers said diverse cuisine, excellent food and service cemented the city's reputation as a premier culinary destination. In the ninth edition of its New York restaurant guide, Michelin awarded 67
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The National Council convenes Wednesday morning under President Nicos Anastasiades to evaluate the results of his contacts recently, in New York and Washington. The session of the National Council, the top advisory body to the President on the handling of the question of Cyprus, is expected to start at 10 am Cyprus time (GMT 0700),
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The highest yearly increase in unemployment in the EU was recorded in Cyprus, according to Eurostat, the statistical office of the European Union. Compared with August 2012, in August 2013 the highest increases were registered in Cyprus (12.3% to 16.9%) and Greece (24.6% to 27.9% between June 2012 and June 2013). The largest decreases were
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Three of the top 20 investors in Microsoft Corp are lobbying the board to press for Bill Gates to step down as chairman of the software company he co-founded 38 years ago, according to people familiar with matter. While Microsoft Chief Executive Steve Ballmer has been under pressure for years to improve the company's performance
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European Central Bank policymakers meeting on Wednesday are likely to hold off policy action for now but keep open the options of an interest rate cut or a bumper cash injection should the euro zone outlook sour. The 23-member Governing Council meets in Paris against a backdrop of inflation slowing to a 3-1/2-year low, a
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Senior party figures in Silvio Berlusconi's fractious centre-right movement urged Italian lawmakers on Tuesday to defy the billionaire media tycoon and back Prime Minister Enrico Letta in a confidence motion expected on Wednesday. Berlusconi's People of Freedom (PDL) party has come close to breaking apart after he pulled his ministers out of the ruling coalition
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British Prime Minister David Cameron on Wednesday will cast a national election in 2015 as a choice between his "pro-business" ruling Conservative party and what he calls its anti-business socialist rivals. In a speech to his party's annual conference in the northern English city of Manchester, Cameron will place Britain's economic recovery at the heart
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– Obama and Senate reject plan, call for full funding – Dispute raises concerns over looming debt limit deadline – Financial markets mostly relaxed so far President Barack Obama and congressional Republicans came no closer to ending a standoff on Tuesday that has forced the first government shutdown in 17 years and thrown hundreds of
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