Apple Inc unveiled a new iPhone on Monday that goes on sale in scores of countries this year, preparing its fastest-ever global roll-out to try and stay a step ahead of rivals like Google Inc in a red-hot smartphone market. CEO Steve Jobs showed off a redesigned $199 "iPhone 4" that is a quarter slimmer
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Britain's FTSE 100 share index fell on Tuesday, led down by energy shares as BP dropped again on fresh Gulf of Mexico oil slick worries and banks which were hit by euro zone debt concerns and the threat of punitive taxes. By the close the FTSE 100 was off 40.91 points, or 0.8 percent at
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Mayor of the Turkish occupied town of Famagusta, Alexis Galanos, has pointed out that Famagusta is a strong card to be played in order to reverse the negative climate around the Cyprus problem, adding that, although there was much talk about no timeframes in the peace effort for a solution, there were indeed deadlines in
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The Cyprus Chamber of Commerce and Industry and the Cyprus-Russian Business Association will organize seminars in Moscow and Rostov to promote Cyprus as an international business centre. According to a press release issued by the Chamber, the Minister of Commerce, Industry and Tourism Antonis Paschalides will lead the expedition. The seminars in Moscow and Rostov
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The EU Economic and Financial Affairs Council approved Tuesday the opinion and recommendations of the European Commission regarding Cyprus’ stability program. Cyprus was represented at the ECOFIN Council by its Minister of Finance Charilaos Stavrakis, who Monday participated in the Meeting of the Finance Ministers of the Eurozone, (EUROGROUP). The ECOFIN prepared the European Council
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U.S. stocks opened higher on Tuesday after Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession, while the euro edged up on profit-taking after the currency hit a four-year low against the dollar. But stocks turned negative, led down by technology and consumer discretionary shares
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The consumer price inflation rate eased to 1.6% in May from 2.4% in April, largely thanks to a fall in food price relative to the previous year. Compared with the previous month, the index fell by 0.08% to 112.67. The Statistical Service reported that this was mainly owing to decreases in the prices of certain
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Credit card spending by locals rose in May according to data from the credit card company JCC. Local plastic card use by Cyprus residents increased by 1% over the year earlier to EUR 144,409,913 (EUR 144 mln) in May, having fallen by 5% in April. In the period January-May, credit card spending by locals was
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Turkish Cypriots spent EUR 6.6 mln using credit and debit cards in the southern part of Cyprus during the first five months of the year, according to data from the credit card company JCC. In April alone, they spent EUR 1.5 mln. The most popular item was supermarkets (reaching EUR 1.4 mln), followed by clothing
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The global airline industry lashed out at the German government's plans to impose an air travel tax at a time when Europe's aviation industry is struggling to post a profit amid a weak economic environment. Berlin's plans and warnings of weak European growth this year overshadowed the closing day of global airlines body IATA's annual
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