The British Court of Appeal ruled Tuesday that a decision by a Cypriot court, in connection with claims relating to Greek Cypriot owned property in the Turkish occupied north, must be executed. The British Court judgment was issued in the case of Apostolides vs. Orams, in which Greek Cypriot Meletis Apostolides took David and Linda
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The costs of construction in Cyprus fell for the first time in ten years in 2009, according to the Statistical Service. For the period January – December 2009, the index fell by 3.54% over the corresponding period of the previous year. The Statistical Service said that the last time prices of construction materials had recorded
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Figures for December confirm that 2009 was a terrible year for car sales, as total registrations of new and second hand vehicles dropped by 25.7% to 50,291 from 67,722 in 2008. Of these, 23,333 were new vehicles and 26,958 were used vehicles, said the Statistical Service. In 2008 registrations had risen by 5.2%, whereas in
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U.S. stock index futures fell on Friday as President Barack Obama's proposed sweeping restrictions on banks and the delayed confirmation of Fed Chairman Ben Bernanke put investors on the defensive after a 10-month rally. On Thursday, Obama threatened to rein in Wall Street banks with proposals to limit financial risk taking. The U.S. Senate will
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General Electric Co's quarterly earnings topped Wall Street expectations on Friday, as it kept costs in line despite sluggish demand for jet engines, railroad locomotives and other heavy equipment. The results showed the largest U.S. conglomerate's efforts to stabilize itself after two brutal years seemed to be paying off, investors said. Its shares rose about
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McDonald's Corp (MCD.N) reported higher quarterly profit on Friday as strength in international markets offset its weakening U.S. business, which is grappling with high unemployment and rampant discounting. The world's biggest hamburger chain said fourth-quarter profit was $1.22 billion, or $1.11 a share, up from $985.3 million, or 87 cents a share, a year earlier.
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World stocks added to the previous week's fall on Monday, weighed down by Wall Street losses, uncertainty over U.S. bank plans and concern that Greece's debt crisis could spread. The dollar, which tends to rise in such circumstances, was generally weaker, with signs that U.S. Federal Reserve Chairman Ben Bernanke was moving closer to being
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British car production rose 58.5 percent on the year in December, the biggest rise since May 1976, the Society of Motor Manufacturers and Traders said on Friday. Commercial vehicle production, a smaller sector, rose in December for the first time in 17 months, the SMMT added. Full year car production was significantly lower than 2008
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U.S. President Barack Obama's plan to limit financial risk-taking could force banks, such as Goldman Sachs or JPMorgan, to shed parts of their private equity operations. Among the proposals, which require congressional approval, is that banks or financial institutions that own banks would not be able to own, invest in or sponsor private equity funds
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Stock markets from Australia to Germany fell on Friday with many financial shares as well as the dollar, pressured by U.S. President Barack Obama proposed sweeping restrictions on banks. Emerging market stocks were set for their biggest weekly fall since early November with losses of more than 4 percent so far this week as Obama's
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