A big triumph for Cyprus Shipping has been achieved today, with the official approval by the European Commission of the new, fully revised and upgraded Cyprus Shipping Taxation System, which had been submitted for official approval in January 2010. This approval constitutes perhaps the most important success for Cyprus Shipping since the formation of the
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New orders for U.S. durable goods rose for the third straight month in February as businesses rebuilt inventories by the largest margin in more than a year, pointing to continued strength in manufacturing. The Commerce Department said on Wednesday orders for long-lasting manufactured goods rose 0.5 percent last month and January's figures were revised sharply
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German business sentiment surged in March to its highest level since June 2008, and activity in the broader euro zone's manufacturing and services sectors accelerated sharply. The Munich-based Ifo think tank said on Wednesday its business climate index, based on a monthly survey of some 7,000 firms, rose to 98.1 from 95.2 in February. The
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European Union Economic Affairs Commissioner Olli Rehn said he backed a proposal to hold a euro zone meeting on Thursday to discuss Greece's debt problems before an EU summit. Asked about the possible involvement of the International Monetary Fund, he reiterated at a news conference on Wednesday that the executive European Commission preferred any solution
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U.S. stock index futures briefly trimmed losses on Wednesday after data showed new orders for long-lasting goods rose for the third straight month, but was slightly below forecasts. S&P 500 futures slipped 4.40 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration
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Hundreds of computer geeks, most of them students putting themselves through college, crammed into three floors of an office building in an industrial section of Ukraine's capital Kiev, churning out code at a frenzied pace. They were creating some of the world's most pernicious, and profitable, computer viruses. According to court documents, former employees and
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Fitch Ratings cut Portugal's sovereign credit rating by one notch to AA- on Wednesday, citing budgetary underperformance in 2009 and warning that a similar outcome this year and next could cause another downgrade. The change underlined concerns that the debt troubles that have afflicted Greece will move to other of the euro zone's weaker economies,
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European shares fell on Wednesday and the euro sank to a 10-month low against the dollar after ratings agency Fitch downgraded Portugal, fuelling more concerns about the euro zone's stability. Euro zone government bond futures recovered early losses after Fitch cut its sovereign credit rating on Portugal by one notch to AA-, citing budgetary underperformance
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European shares rose on Wednesday, hitting a 17-month high, with Deutsche Boerse up as it plans more cost savings, while upbeat German business sentiment fuelled confidence in the economic recovery. By 0933 GMT, the pan-European FTSEurofirst 300 index of top shares rose 0.3 percent to 1,075.20 points, hitting an intraday high at 1,077.61 points, the
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The euro hit 10-month lows against the U.S. dollar on Wednesday as investors doubted a solution for Greece's fiscal woes was on the cards, with the cautious mood holding Asian stocks below two-month highs. Concerns around Greece's fiscal problems returned despite Germany saying overnight for the first time it may support a euro-zone financial aid
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