President of the Republic of Cyprus Demetris Christofias has reiterated that the recognition of the Armenian genocide by Turkey would have a liberating effect on Turkey itself and would show that the country is on a course of modernisation. He added that the Republic of Cyprus will continue to support the people of Armenia and
More
Britain's economy shrank 0.4 percent in the second quarter of this year, economic researchers said on Tuesday, after weak industrial output data forced it to rethink its view that GDP growth resumed in April. The National Institute of Economic and Social Research, which produces monthly estimates of gross domestic product growth, said revisions to official
More
Soaring U.S. unemployment and a shrinking economy drove delinquencies on credit card debt and home equity loans to all-time highs in the first quarter as a record number of cash-strapped consumers fell behind on their bills. Delinquencies on the value of all card debt soared to a record 6.60 percent from 5.52 percent in the
More
U.S. stocks slipped on Tuesday as investors were cautious ahead of earnings season, and talk of the need to plan for a possible second fiscal stimulus package underscored worries about the U.S. economic recovery. * The Dow Jones industrial average (.DJI) was off 30.08 points, or 0.36 percent, to 8,294.79. The Standard & Poor's 500
More
The euro rose broadly, world stocks turned higher, and energy and commodity prices rebounded on Tuesday after upbeat German manufacturing data helped to inject optimism about a global economic recovery. Investors sought mining stocks, helping to erase early losses in European shares. They are also awaiting second-quarter corporate results, and aluminium producer Alcoa will start
More
Eighteen new cases of H1N1 flu have been confirmed in Cyprus during the past 24 hours, increasing the total number of confirmed cases to 135, the Health Ministry announced on Tuesday. According to a press release, eleven of the new cases concern Cypriots. So far 304 persons with flu symptoms have been subjected to laboratory
More
Greece's tourism industry has shed more than 19,000 jobs after arrivals at airports dropped by nearly a tenth in the first six months of the year, a trade group said on Tuesday. The country's 13 biggest airports, which account for the bulk of tourism traffic, saw a total of 3.9 million arrivals in the period,
More
China, Russia and Brazil will use this week's G8 summit in Italy to push their view that the world needs to start seeking a new global reserve currency as an alternative to the dollar, officials said on Tuesday. As leaders of the Group of Eight rich nations and the major developing powers travelled to Italy
More
Lending activity has picked up in Britain's troubled housing market, with more financing becoming available for higher loan-to-value transactions, Treasury minister Paul Myners said on Tuesday. "There is an increase in the lending activity," Myners told parliament's Treasury Committee, citing data from the Bank of England. "There is more available finance and there's a trend
More
European initial public offerings remained sparse in the second quarter, with most companies likely to defer going public until mid-2010, an expert on new listings from PriceWaterhouseCoopers (PwC) said. "Whoever isn't forced through necessity by the funds an IPO makes available is waiting," PwC IPO expert Volker Fitzner told Reuters late on Monday. Investors would
More