Britain's economy shrank more than expected at the end of 2012 with a North Sea oil production slump, lower factory output and a hangover from London' Olympics pushing it perilously close to a "triple-dip" recession. The country's gross domestic product fell 0.3 percent in the fourth quarter, the Office for National Statistics said on Friday,
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The Cyprus National Hydrocarbons Company (CNHC) discussed the next steps in Cyprus` offshore block 12 development with a senior team from Noble Energy headquarters. A press release issued today by CNHC says that the two-day discussions which took place on January 22 and 23 focused on three issues. The two sides made a comprehensive update
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The euro hit an 11-month high and European shares dipped on Friday as markets braced for news on how much banks will repay of the one trillion euros in European Central Bank crisis funds that have been keeping them afloat. Data due showing whether Britain is heading for its third recession since the financial crisis
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Minister of Commerce, Industry and Tourism Neoclis Sylikiotis has described the signing, today, of the contracts with the ENI/KOGAS consortium for hydrocarbons exploration in blocks 2,3 and 9 in the EEZ of Cyprus as a truly historic moment for the country. Speaking during the signing ceremony, at the Ministry of Commerce, Sylikiotis noted that state
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Chairman of the Committee on Foreign and European Affairs of the House of Representatives, Averof Neophytou, will be holding meetings with EU officials and MPs, in Dublin and Brussels, in the framework of a House decision to address allegations regarding money laundering in Cyprus and explain the legal and institutional situation for combating such phenomena.
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The Cyprus Telecommunications Authority (Cyta), Radius Oceanic Communications Inc. and CSnet International Inc. have announced their cooperation to link the Poseidon project with the Offshore Communications Backbone, achieving the convergence of oceanography and telecommunications for the offshore hydrocarbons industry in the Eastern Mediterranean. The project was presented at a press conference on Thursday in Nicosia
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Britain may soon have to force workers to start saving for retirement to cut a soaring pensions bill set to reach 120 billion pounds in 20 years. The government wants people to pay into their own pension pots rather than rely on the state. But many employees, with limited disposable income, have been reluctant to
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Greek riot police stormed a subway train depot in Athens early on Friday to disperse striking subway staff who defied a government order to return to work for a ninth consecutive day, a police official said. Scuffles broke out when police forced their way through a metal gate shortly after 4 a.m. (0200 GMT) and
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Asian shares fell on Friday, hurt by a drop in regional technology stocks and on caution ahead of the corporate earnings season, but gains in Japan and Australia limited overall losses for equities. Upbeat manufacturing reports from the United States, Germany and China underpinned sentiment for other assets, supporting copper while curbing selling pressure in
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India's radical Hindu nationalist party governing Mumbai has handed out kitchen knives and chilli powder to women following a gang rape in the capital New Delhi that ignited a national debate on the best way to tackle sex crimes. The Shiv Sena party, an ally of the main opposition BJP, said it had handed out
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