Vodafone, the world's largest telecom operator by revenue, launched the sale of its 3.2% stake in China Mobile on Tuesday, sources with direct knowledge of the process told Reuters. The entire stake is worth $6.7 bln, based on China Mobile's last traded price, though it was unclear how much of the stake was on sale
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Greece's bank privatisation advisers will submit by the end of this month a keenly awaited report on how the debt-laden country should restructure its ailing banking system, the finance minister said on Tuesday. Greece hired HSBC <HSBA.L>, Deutsche Bank <DBKGn.DE> and Lazard <LAZ.N> on Aug. 26, as part of efforts to shore up its lenders
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Google Inc will launch its service to bring the Web to TV screens in the United States this autumn and worldwide next year, its chief executive said, as it extends its reach from the desktop to the living room. CEO Eric Schmidt said the service, which will allow full Internet browsing via the television, would
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The European Union accused the Turkish government on Tuesday of stifling public debate on planned constitutional reforms that have provoked strong domestic opposition. The executive European Commission reiterated its support for Ankara's attempt to reorganise the judiciary, which the Turkish government says is vital for its bid to join the 27-country EU. But the Commission
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President Dmitry Medvedev hired one of Russia's most prominent investment bankers as an adviser on social issues such as pensions, state benefits and wages on Tuesday, local news agencies reported. Medvedev signed a decree appointing Yevgeny Yuriev, the 39-year-old founder of Aton investment bank, as one of his 10 advisers, the Kremlin said. Interfax news
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European Union finance ministers agreed on Tuesday to a sweeping overhaul of how the bloc's financial industry is policed, but remained locked in dispute over the taxation of banking and trading. Three years after the start of a financial and economic crisis, some have grown frustrated by Europe's slow pace of reform in its financial
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Building permits issued rose by 2.3% over the year earlier in January – June 2010 to 4,619, according to the Statistical Service. However, the total value of these permits decreased by 4.2% and the total area decreased by 0.4%. Moreover, the number of dwelling units authorised dropped by 7.4%. In June alone the number of
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Credit card spending by locals kept up their pace in August according to data from the credit card company JCC. Local plastic card use by Cyprus residents increased by 4% over the year earlier to EUR 160,131,118 (EUR 160 mln), having risen by 5% in July. In the period January-August, credit card spending by locals
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Year on year inflation climbed in August, with prices rising by 3.2% over the year earlier compared with 2.6% in July. Compared with the previous month, prices increased by 0.82%. The Statistical Service said that this was mainly owing to increases in the prices of certain fresh vegetables, fresh fruit, bread and electricity. Decreases were
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The number of unemployed persons registered at the District Labour Offices on the last day of August 2010 reached 22.365 persons according to the Statistical Service. According to the seasonally adjusted data, the number of registered unemployed for August 2010 recorded an increase of 2.4% compared with the previous month and reached 23,725 persons. In
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