The Supreme Court of Cyprus has overturned a fine on local fuel companies for uncompetitive pricing after ruling the composition of the regulatory watchdog that had imposed the penalty was invalid. The Competition Commission of Cyprus had in September 2009 ordered four companies – Exxon Mobil Cyprus, Hellenic Petroleum subsidiary EKO, Petrolina Holdings Public and
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The hotel maid whom Dominique Strauss-Kahn is accused of sexually assaulting has added two attorneys to her legal team as she considers a possible civil action, the attorney already representing her said. Kenneth Thompson, a former assistant U.S. attorney in New York, and Norman Siegel, a former director of the New York Civil Liberties Union,
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Asian stocks were on course for their biggest gain in a month on Thursday, led by resources and consumer sectors, with recovering commodity prices and the euro's rebound toward $1.42 bringing investors back into the markets in search of bargains. The risks surrounding the euro have not eased much, with Greece fighting to avoid a
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The much-mocked hat worn by Princess Beatrice to Britain's royal wedding last month — widely described as looking like a toilet seat — sold for 81,100 pounds ($131,000) on eBay, charities which will benefit from the sale said. The money will be equally split between UNICEF and Children in Crisis, which posted the auction results
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Marfin Popular Bank, the second biggest lender in Cyprus, has issued 1 bln euros ($1.4 bln) in mortgage-backed covered bonds which have been listed and trading on the Irish Stock Exchange. The bonds carry an annual interest rate of 3-month Euribor plus 2% and mature in two years, with the possibility of an extension for
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Failure to find political consensus on austerity in Greece threatened to plunge the euro zone deeper into crisis on Wednesday, eclipsing Finnish approval of EU/IMF aid for Portugal after weeks of bitter debate. The Greek government denied newspaper reports that it was poised to call a referendum on additional austerity measures to deal with its
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Britain will review its military bases in Cyprus as it seeks to extract maximum value from a shrinking defence budget, Defence Secretary Liam Fox said in a statement to parliament on Tuesday. Britain has two extensive sovereign base areas on the Mediterranean island, occupying 98 sq miles (254 sq km) or about 3% of its
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By Shavasb Bohdjalian Cyprus has taken the lead in attracting Polish investment funds that are eager to take advantage of the recent change in Polish tax law, which allows EU Funds the same privileges as those enjoyed by Polish domestic investment funds. Under the Polish domestic rules, Polish investment funds are subject to a special
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Two German airports halted flights on Wednesday as ash from an Icelandic volcano drifted across northern Europe, but traffic across much of the region started to return to normal. The weekend eruption of the Grimsvotn volcano forced the cancellation of some 500 European flights on Tuesday, with Scotland especially hard hit. The volcano seems to
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Officers received training biased against the United States at a prestigious Pakistan army institution, according to Wikileaks, underscoring concerns that anti-Americanism in the country's powerful military is growing amid strains with Washington. A U.S. diplomatic cable said the former U.S. ambassador to Pakistan Anne Patterson found officers at the National Defense University (NDU) were "naive
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