Japan's Nikkei average closed above 10,000 on Friday for the first time in a week, with exporters climbing on a slightly weaker yen, while Fast Retailing gained after forecasting a record profit for this business year. Resource-related stocks climbed after gold hit an all-time high, while Nintendo Co jumped nearly 7 percent after Citigroup Global
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Minister of Commerce, Industry and Tourism Antonis Paschalides said Thursday that he will promote an educational programme of cooperation in tourism between Cyprus, Jordan, Egypt, to be financed by the EU and the UN agency on tourism. Speaking to journalists, Paschalides referred to his participation in the XVIII Session of the UNWTO General Assembly (5-8
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Cyprus is in third place among the 27 EU member states in hosting EU citizens in search of employment, in relation to the population of the country, Minister of Labour and Social Insurance Sotiroulla Charalambous indicated today. Addressing in Limassol a congress on the free movement of workers in the EU, the Minister said that
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The European Commission has taken action against restrictions on estate agents' activities in Cyprus. According to a press release by the EC, the Commission has taken action to ensure that the internal market principles of free movement of services and freedom of establishment are respected in Cyprus. The Commission will send a formal request to
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Finance Minister Charilaos Stavrakis submitted the 2010 state budget to the President of the House of Representatives Marios Garoyian. Stavrakis said that the 2010 budget will feature a 14% cut in non-productive state expenditure, in a bid to contain Cyprus' fiscal deficit below the 3% ceiling, defined by the EU. The draft budget forecasts revenue,
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The Board of Directors of Bank of Cyprus Public Company Ltd will convene on Wednesday 4 November 2009 to examine the Bank of Cyprus Group financial results for the nine months ended 30 September 2009 as well as the possible payment of an interim dividend. On the same day, after market close, the financial results
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As the U.S. unemployment rate climbs toward 10 percent, President Barack Obama is facing a rising clamor from within his Democratic party to take new steps to lift the economy and jump-start job growth. But soaring budget deficits are likely to constrain Obama's options as he considers ideas ranging from bolstering safety-net programs and extending
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The U.S. Federal Reserve must continue to prop up the economy for an extended period but can't do so indefinitely for fear of triggering an inflationary surge, Federal Reserve Chairman Ben Bernanke warned on Thursday. The U.S. central bank has cut interest rates to near zero percent and pumped hundreds of billions of dollars into
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Asian shares hit a new 14-month high on Friday on investor optimism over the global economy, while the dollar rose on short-covering following its slide earlier in the week. European shares were set to fall back on Friday after a 1.3 percent rise in the previous session, with miners likely to give back some gains
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European shares remained higher after the European Central Bank kept its key interest rate at 1 percent, with U.S. aluminium group Alcoa's having got third-quarter earnings season off to a positive start. At 1235 GMT, the FTSEurofirst 300 index of top European shares was up 1.1 percent at 999.30 points. The ECB kept its main
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