Stock index futures pointed to a sharply lower open on Wall Street on Tuesday following a long holiday weekend, as mounting doubts over the pace of the global economic recovery hit stocks worldwide. Futures for the S&P 500 were down 1.7 percent, Dow Jones futures down 1.4 percent and Nasdaq 100 futures down 1.3 percent
More
Apple Inc said it sold 2 million iPads since launching the touch-screen tablet in the United States nearly two months ago and taking it to nine international markets this past weekend. The company did not give a geographic breakdown of sales in its statement, but had previously said it sold 1 million iPads in the
More
Web search group Google Inc is phasing out internal use of rival Microsoft Corp's Windows operating system because of security concerns following a Chinese hacking incident, the Financial Times reported on Tuesday. Citing several Google employees, the FT said the decision to move to other operating systems including Apple Inc's Mac OS and open-source Linux
More
Travel abroad from Cyprus fell in April, probably as a result of delayed and cancelled flights as a result of ash from an Icelandic volcano. According to the Statistical Service, 91,737 residents of Cyprus returned from a trip abroad in April 2010, marking a fall of 10.7% compared with the 102,733 recorded in the corresponding
More
Manufacturing in the euro zone expanded in May, but at a far slower rate than April's 46-month high as cost pressures and tighter margins drove firms to take their feet off the production accelerator, a survey showed on Tuesday. The 16-nation bloc and its common currency have been hit by waves of investor insecurity churned
More
Industrial production in Cyprus rose for the first time in 17 months in March, according to the latest figures from the Statistical Service. The index of industrial production rose by 6.1% over the year earlier to 102.6, with manufacturing up 5.6%, mining and quarrying up 24.9% and water supply and materials recovery up 37.3% (after
More
Oil fell more than $2 to around $72 on Tuesday, erasing earlier gains, after Chinese and European data raised concerns over the pace of economic growth. China's factories scaled back production last month and slowed the pace of hiring, the purchasing managers' index (PMI) for May showed on Tuesday. Manufacturing activity in the euro zone
More
British manufacturing activity held steady in May at the previous month's 15-year high, a survey showed on Tuesday, but the recovery picture was clouded by signs of accelerating price pressures. The Markit/Chartered Institute of Purchasing and Supply manufacturing PMI was unchanged at 58.0 in May, slightly above the 57.8 consensus forecast. It has been above
More
National quantitative aims for energy performance and the new European energy strategy for 2011-2020 were the main topics on the agenda of Monday's EU Council of Energy Ministers. Cyprus was represented at the meeting by Permanent Secretary of the Ministry of Commerce, Industry and Tourism Zeta Emilianidou, who presented the positions of the Republic of
More
The cost of protecting government debt against default in France as well as other peripheral euro zone countries rose on Tuesday as investors remained anxious about sovereign ratings. Five-year credit default swaps (CDS) on French government debt rose to 74.6 basis points from 68.6 bps at the New York close on Friday, according to CDS
More