News Corp is not interested in buying popular microblogging site Twitter and will not sell its struggling social network MySpace, said the media conglomerate's chief executive, Rupert Murdoch. Murdoch, who arrived on Wednesday at the Allen & Co investment bank's Sun Valley media and technology conference, said Twitter would be a tough investment to justify
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For years it was the talk of the wireless industry: beaming television to the world's four billion cellphones would be the icon of the digital age. Now, just three letters are hastening the demise of that vision. App. Short for "application," the programs people download from online stores to run on their portable phones have
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The Ministry of Finance forecasts that the fiscal deficit for the first five months of the year was 1.8% of GDP compared to a surplus of 0.3% of GDP in the corresponding period in 2008, exceeding the initial estimates of the Ministry. The Finance Ministry recently insisted that the GDP deficit would remain below 3%,
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The CSE Council in agreement with the CySEC decided to delist the securities of Costas Michaelides Constructions Ltd (KMC) effective July 10, 2009 since the company does not meet the main listing requirement of free float of its share capital to the public in view of the completion of the squeeze out procedure by Kostas
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— “Melkonian school should continue” — President Demetris Christofias concluded a two-day official visit to Armenia, where he said after meetings with his counterpart Serzh Sargsian that Cyprus-Armenia ties should be enhanced even further. In an interview with the Azg daily newspaper in Yerevan, Christofias said that “on a political level we have no issues.
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G8 leaders were due to agree a goal of limiting global warming to 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial levels at a summit in Italy on Wednesday. Here are some facts about the target, previously adopted by European Union nations and due to be widened to the United States, Russia, Japan and Canada. For
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UK Treasury minister Paul Myners said on Wednesday that Bank of England Governor Mervyn King had been "fully consulted" on the government's banking reforms. Myners also dismissed talk of a rift between the governor and finance minister Alistair Darling over regulation. "I don't think the Chancellor and the Governor are at odds," Myners told parliament's
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Spending through credit cards by residents of Cyprus fell 2% year-on-year to EUR 150 mln in Jubne 2009 according to figures released by JCC Payments in another sign of weak consumer spending. Spending by non-residents fell by 11% to EUR 46 mln. (Full report available in print edition of Financial Mirror and also available online
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VAT receipts, which constitute the biggest part of indirect taxes receipts at 75% of the total, recorded a 9.1% decrease in the first half of 2009 to EUR 861 mln from EUR 946.92 mln in 1H08 in a clear indication of a weakening private consumption demand, according to the Department of Customs and Excise. The
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The European Commission approved the annual report for 2008 on the implementation of the aid programme for the Turkish Cypriot community. The aid programme aims to facilitate the reunification of Cyprus by encouraging the economic development of the Turkish Cypriot community with particular emphasis on the economic integration of the island, on improving contacts between
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