Samsung Electronics posted a record $5.2 billion quarterly profit as it shifted over 20,000 Galaxy smartphones an hour in January-March, outselling Apple's iPhone in a duel for the lucrative high end of the mobile industry. Chairman Lee Kun-hee's South Korean group, whose $190 billion market value is 11 times that of Japanese rival Sony Corp,

Fast-food chain KFC has been ordered to pay A$8 million ($8.3 million) in damages to the family of an Australian girl who was left severely brain damaged and in a wheelchair after being poisoned by a chicken meal. In 2005, Monika Samaan, then aged seven, her parents and her brother were hospitalised with salmonella poisoning

Cyprus Government has described as “illegal” the drilling for hydrocarbons in the Turkish occupied area of Famagusta, noting that this action demonstrates Ankara’s and Turkish Cypriot leadership’s lack of will for a solution to the Cyprus problem. Government Spokesman Stephanos Stephanou said that '' Turkey and the T/C leadership are acting illegally by conducting a

A total of 69.612 patients were admitted for treatment and discharged from the general hospitals during 2009, recording an increase of 4,8% over the previous year, according to the annual report “Health and Hospital Statistics” for the year 2009 prepared and announced Thursday by the Statistical Service of Cyprus. A press release issued by the

Minister of Finance Vassos Shiarly has expressed the government's determination to reduce the fiscal deficit to 2.5% this year. In statements to the press Thursday, the Minister said that any additional financial measures needed to be taken to reduce the fiscal deficit will be taken after consultations with all social partners. Furthermore, the Minister dismissed

The European Commission has issued a reasoned opinion requesting from Cyprus, Belgium, Spain, France, Poland and Portugal to conform with the latest Directive on e-money. The Directive aims at facilitating market entry, as well as at the taking up and pursuit of the business of electronic money issuance. The six member states have to notify

Saxo Bank, the specialist in online trading and investing, today announces the opening of its new office in Cyprus which will provide Cypriot investors with access to international financial markets. Vitali Boutbaev has been appointed as Head of Saxo Bank A/S Cyprus and will be responsible for running the business and bringing new clients on

Scientists have called for a radical rethink of our relationship with the planet to head off what they warn could be economic and environmental catastrophe. In a report published on Thursday by the London-based Royal Society, an international group of 23 scientists chaired by Nobel laureate Sir John Sulston called for a rebalancing of consumption