European shares drifted lower in early trade on Thursday, weighed by poor results from Swiss engineering group ABB, though Credit Suisse jumped after the size of its first-quarter profit surprised investors. At 0837 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 793.68 points after falling as low as 787.56
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* Stock index futures pointed to a higher open for Wall Street on Thursday, after iPhones maker Apple beat forecasts with its quarterly profit overnight. * At 0923 GMT, futures for the Dow Jones, S&P 500 and Nasdaq were up between 0.7 and 1.3 percent. * The FTSEurofirst 300 index of top European shares was
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Euro zone businesses stepped up job cuts this month even though they are cautiously optimistic about next year, a survey showed on Thursday, and mixed news on major banks suggested recession is far from over. Credit Suisse beat forecasts with its quarterly profit, offering markets some relief after news of heavy losses suffered by top
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Marfin Popular Bank Public Co Ltd announces that an Extraordinary General Meeting will be held at Hilton Cyprus Hotel, Nicosia on 19 May 2009, immediately after the conclusion of the Annual General Meeting to approve amendment to the terms of the share options scheme. Within the framework of the implementation of the Share Options Scheme,
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On Thursday 23 April, Swedish Minister of Foreign Affairs Carl Bildt will travel to Cyprus to discuss the Cyprus issue and other matters with Cyprus Minister of Foreign Affairs Markos Kyprianou, a press release issued by the Swedish Foreign Ministry said. As noted, Bildt will also be received by Cyprus President Demetris Christofias, “Chief Negotiator
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Global real estate trends have finally reached Cyprus, with residential house prices falling in the first quarter. For the period January to March 2009, the BuySell Home Price Index recorded a cumulative decrease of 1.7% compared to December 2008. Compared with the same period of 2008, prices fell by 2.2%. This is the first fall
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Inflation of construction materials prices was moderate in March, as the price index of construction materials rose by only 0.6% over the previous month to reach 117.23 (base year 2005=100.00). For the period January – March 2009, the index recorded an increase of 0.66% over the corresponding period of the previous year. As of March
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The Cyprus Inland Revenue Department (IRD) reported that total revenue during the period January – March 2009 declined by 10.2% to EUR 400.2 mln compared to EUR 445.8 mln a year ago in the same period. The decline in revenue is mainly attributed to the 83.4% decline in revenue from Capital Gains Tax which tumbled
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Apple Inc's quarterly profit soared past Wall Street expectations on strong sales of iPhones and iPods, underscoring the popularity of the company's relatively expensive products even in the midst of a weak economy. Known for giving conservative outlooks, Apple projected profit and revenue for the current quarter below average Wall Street estimates, but that did
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By Michelle Nichols Nobel Peace Prize winner Muhammad Yunus, known as the "banker to the poor" for making small loans in replica watches impoverished countries, is now doing business in the center of capitalism — New York City. In the past year the first U.S. branch of his Grameen Bank has lent $1.5 million, ranging
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