Primetel Plc (PTL), the alternative telecom provider announced that it has successfully completed the issue of the 5-year bond of EUR5 mln, which bears a stable interest rate payment of 6.75% per annum. The issue was oversubscribed by applicants including institutional investors, provident and pension funds, insurance companies and individual investors. The bond is guaranteed
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The Cyprus Business climate index in July 2009 improved by 3.2 units month-on-month to 66.5 units, according to the Business and Consumer Survey conducted by the Economic Research Centre of the University of Cyprus in cooperation with the European Committee.
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Palm Inc has fired another volley at Apple Inc in their smartphone war, as the two rivals tussle over whether iTunes should be compatible with Palm's new Pre smartphone. Palm, whose executive ranks include former Apple brass, released a software update for the Pre this week that allows it to sync again with Apple's iTunes
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Options Cassoulides Plc (OPT) announced that its subsidiary I.G Cassoulides & Son Ltd reached an agreement with Messrs. Anastasios Elias and Georgios Andreou (who already hold 50% of Marelia Development Ltd) for the sale of 50% of the share capital of Marelia Development Ltd against the sum of EUR600,000. The Company will realize a profit
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Asian stocks rose for the ninth day in 10 on Monday, with investors still focused on upward momentum in corporate earnings, though some worried whether the gains were racing ahead of longer-term economic prospects. Japan's Nikkei share average posted its longest winning streak in 21 years, and South Korea's KOSPI since April 2006. Oil prices
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Billionaire Bill Gates on Friday urged India to move away from low-cost labor toward high-end research and development to keep its giant IT sector competitive. On a visit to New Delhi, the co-founder of Microsoft Corp called on the Indian government to speed up its commitment to R&D and to boost low number of home-grown
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US Stocks added losses on Friday following a mixed report on July consumer sentiment. Wall Street was already weak ahead of the data after disappointing results from bellwethers Microsoft Corp (MSFT.O) and American Express Co (AXP.N). The Dow Jones industrial average (.DJI) was down 53.89 points, or 0.59 percent, at 9,015.40. The Standard & Poor's
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Britain's economy shrank more than twice as fast as expected in the second quarter of 2009 to register its biggest annual decline on record, dashing hopes of a speedy recovery from the worst recession in nearly 30 years. GDP fell 0.8 percent in the three months to June and by 5.6 percent lower on the
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Oil fell towards $67 on Friday, after equalling this year's longest rally, due to a fall in U.S. stocks futures following disappointing corporate earnings. U.S. crude eased 4 cents to $67.12 a barrel by 1314 GMT, having scaled $67.68 earlier, the highest intra-day since July 2. Oil's rally to Thursday had already matched the seven-day
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Europeans fear more jobs will be lost in the economic crisis, with Scandinavians the most optimistic and Balts the gloomiest, a survey showed on Friday. The Eurobarometer poll, carried out in June, showed 61 percent of people in the 27-nation European Union and candidate states believed the impact of the crisis on the job market
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