The efforts by court-appointed collectors to impound a Cyprus government limousine on Thursday has prompted a war of words a day later between the outgoing government and opposition forces on the one hand, and the Attorney General with the judges on the other. Trade Minister Neoclis Sylikiotis, who leaves office in a week’s time after
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The European Commission confirmed its economic outlook for cash-starved Cyprus, doubling its contraction estimate from its previous autumn forecast from 1.7% to 3.5% for the whole of 2013. "Risks remain important and tilted to the downside," the Commission said, prompting the Finance Ministry in Nicosia to issue a statement whereby the forecast is the same
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Bulgaria's president launched talks to create a new government on Friday after violent protests toppled the austerity-minded cabinet and put the Balkan country on course for an early election and a potential political deadlock. The resignation of Prime Minister Boiko Borisov's cabinet has failed to quell public anger over high utility bills, and more
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Morgan Stanley Real Estate Investing (MSREI) said one of its funds had bought the Metropolis shopping mall in northwest Moscow, in what it called Russia's biggest commercial real estate deal. Metropolis, which has a total size of 205,000 square meters, is one of Russia's biggest shopping centers and was acquired from Capital Partners, a
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A major winter storm headed northeast into the U.S. Great Lakes on Friday and threatened New England after blanketing states from Minnesota to Ohio with blinding snow, sleet and freezing rain. The storm dumped more than a foot of snow in Kansas on Thursday, forcing airports to cancel hundreds of flights and stranding motorists
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Fewer Greeks are walking down the aisle as their country's deep economic crisis takes a toll on their famously lavish weddings, an age-old ritual that has become an unbearable cost for those struggling to make ends meet. Religious wedding ceremonies in bell tower chapels overflowing with flowers, meter-high candles and candy wrapped in tulle, are
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What can man do to prevent Earth being hit by meteorites and asteroids? Russia has found, to its cost, that it has no answers. But U.S. and European experts may be able to help with a few ideas that at first glance seem straight out of science fiction, including smashing spacecraft into asteroids, using
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India will launch its first mission to Mars this year, President Pranab Mukherjee said on Thursday, as the emerging Asian nation looks to play catch up in the global space race alongside the United States, Russia and its giant neighbor China. "Several space missions are planned for 2013, including India's first mission to Mars
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Finnish mobile phone maker Nokia is set to launch cheaper handset models in an attempt to fend off growing competition from Chinese rivals in the low-end market, company sources said on Friday. The new models, due to be unveiled at the Mobile World Congress industry convention in Barcelona next week, show Nokia is expanding its
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German business morale surged at its fastest pace in over two years in February, pushing higher for a fourth consecutive month and pointing to a solid recovery in Europe's largest economy after a dismal end to 2012. The Munich-based Ifo think tank said on Friday its business climate index, based on a monthly survey of
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