Total scientific research and experimental development (R & D) expenditure in Cyprus reached just 0.43% of GDP in 2008 according to the results of the ad hoc survey carried out by the Statistical Service. The amount spent is estimated at EUR 73.4 mln, a rises of 4.7% on the EUR 70.1 mln or 0.44% of

British Airways apologised to passengers after an emergency message warning they were about to crash into the sea was played by mistake. About 275 passengers were on the London Heathrow to Hong Kong flight on Tuesday evening when the automated message went out. The plane was flying over the North Sea at the time. Cabin

Britain's economy grew faster than originally estimated in the second quarter of this year, hitting its fastest rate of growth in more than nine years, official data showed on Friday. The Office for National Statistics said the economy grew by 1.2 percent in the three months to June, up from its preliminary estimate of 1.1

Minister of Finance Charilaos Stavrakis said on Thursday that the registration of new companies in Cyprus increased by 30% compared to last year, adding that the registrations were a fundamental indication of the competitiveness of the Cypriot economy and the general effort of Cyprus to attract foreign investment. Speaking on the sidelines of a round

A whole host of events both in Cyprus and abroad is being organized by the Republic of Cyprus to celebrate fifty years since it was established. An official announcement states that major events will take place in Nicosia, Athens, London, Brussels, Paris, Washington and Moscow. On October 1, the Republic’s national day, music, dance, song,

All 17 mosques, with the exception of Omerieh mosque in Nicosia, while are located in the southern government controlled part of Cyprus, will be restored by the end of 2011, according to the Department of Antiquities. The Republic of Cyprus has spent over three million euro between 1975 (a year after the Turkish invasion of

Shanghai and Hong Kong stocks weakened on Friday, with the Hang Seng Index holding near a one-month low as shares in China Life Insurance extended their slide after a disappointing earnings outlook prompted a selloff. The Hang Seng Index ended morning trading down 0.1% at 20,590.42. It was headed for third straight weekly loss, taking

Australia's conservative opposition has agreed to allow Treasury officials to analyse its election promises, removing a major obstacle to talks with five independent and Green MPs on forming a new minority government, Prime Minister Julia Gillard said on Friday. Labor's Gillard had already agreed to release her government's costings and said she had "productive" talks

Japan's core consumer prices fell for the 17th straight month in July on an annual basis in a sign that deflation remains deeply entrenched, boding ill for a fragile economy faced with a surging yen. Japanese policymakers are struggling to put a cap on the yen, which hit a 15-year high against the dollar this

European shares edged lower in early trade on Friday and were on track for a third straight week of losses as investors remained concerned about the pace of economic recovery after recent grim macroeconomic data. The market awaited the second estimate of U.S. GDP for the second quarter and a speech by U.S. Federal Reserve