A Cyprus company is suing the world’s third-largest biotechnology company, Genzyme Corp. of Massachusetts, over a major pharmaceuticals supply deal to the Ukraine that it claims went sour 13 years ago when Genzyme had changed the particulars of a drug, making it non-marketable. In a statement of claim filed in Nicosia District Court that is

The combined profits of all companies listed on the Cyprus Stock Exchange (CSE) fell by EUR 249 mln or 39% to EUR 388.73 mln in 2009 compared to EUR 637.74 mln in 2008, according to data compiled by the Financial Mirror. A sharp deterioration in the results of the Main Market and principally those of

U.S. employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate unchanged at 9.7 percent, according to a government report on Friday which said it was unclear how severe weather had impacted payrolls. The Labor Department said job losses for December and January had been revised to show 35,000 fewer jobs

Credit card spending by locals jumped in February according to data from the credit card company JCC. Local plastic card use by Cyprus residents rose by 12% over the year earlier to EUR 156,263,219 (EUR 156 mln), having fallen by 13% in January. The steep decline in January means that, for the first two months

Turkish Cypriots spent EUR 2.5 mln using credit and debit cards in the southern part of Cyprus during the first two months of the year, according to data from the credit card company JCC. In February alone, they spent EUR 1.2 mln. The most popular item was supermarkets (reaching EUR 557,401), followed by clothing (EUR

British factory gate inflation picked up to a 14-month high in February, but growth of manufacturers' input prices eased more than expected and for the first time since last July, official data showed on Friday. The Office for National Statistics said annual producer output price inflation accelerated to 4.1 percent last month from 3.8 percent