Microsoft said it will buy Nokia's phone business and license its patents for 5.44 bln euros ($7.2 bln), making its boldest foray yet into mobile devices and bringing executive Stephen Elop back into the fold. Nokia chief Elop, a former Microsoft executive, will return as Microsoft's board ponders a successor to current CEO Steve Ballmer,
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Upbeat factory data from around the globe powered Asian markets on Tuesday, while gold and the yen lost some of their safe-haven appeal as the U.S. delayed a possible strike on Syria. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.7%, building on Monday's 1.2% rise and on track for a fourth day of
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Forex Time Ltd (FXTM) has launched a new Mandarin Chinese language website to support traders with content in the world’s most spoken language. With more than 1 billion people across the world speaking Mandarin Chinese, it is also the top language worldwide for business other than English. Forex is a truly international market and the
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Cyprus is successfully carrying out the reforms necessary under its 10 bln euro bailout programme and will get the next tranche of financial help as planned, a draft report by the European Commission showed on Monday. Inspectors from the Troika of international lenders — Commission, European Central Bank and IMF — visited the island in
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The outlook for South Africa's banking system remains negative, Moody's Investors Service said in a new report but that the banks' resilient core earnings-generating capacity and ample capital buffers partly offset the negative drivers. The rating agency said the outlook reflects the sluggish operating environment which will weaken asset quality and increase provisioning needs; the
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Tickets are now on presale for the Carmina Burana performances by the award-winning Italian dance group Spellbound Contempory Ballet during the Kypria International Festival. The three performances will take place at the Rialto Theatre in Limassol on Thursday, September 19 and at THOC theatre in Nicosia – on Friday, September 20 and Saturday, September 21.
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Chancellor Angela Merkel and her Social Democrat challenger in this month's German election clashed over the euro, tax policy and U.S. spying in a television debate on Sunday that produced no clear winner. The only TV duel of the campaign, watched by an estimated 15 mln viewers, was one of SPD candidate Peer Steinbrueck's last
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Asian shares climbed to a two-week high on Monday, and the Australian dollar and copper gained, as China said its manufacturing expanded in August at the fastest pace in more than a year. A delay in potential U.S. military action against Syria, as U.S. President Barack Obama sought Congressional support, also helped boost short-term risk
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Greece dismissed a proposal by euro zone officials to hand over the management of its real estate assets to a holding company based overseas, saying the country would stay in charge of its privatisation programme. The euro zone's bailout fund, the European Stability Mechanism (ESM), proposed that some Greek real estate assets be transferred to
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The United States made clear on Friday that it would punish Syrian President Bashar al-Assad for the "brutal and flagrant" chemical weapons attack that it says killed more than 1,400 people in Damascus last week. "We cannot accept a world where women and children and innocent civilians are gassed on a terrible scale," President Barack
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