The Lord Mayor of the City of London the Rt. Honourable Alderman Ian Luder is planning to visit Cyprus from 26 to 28 January 2009, with an aim to enhance business links and collaboration between Cyprus and Britain in the field of financial services. The Lord Mayor's programme, organised by the British High Commission, will
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Cyprus cut its economic growth forecast to 2.1% in 2009 from an earlier projection of 3%, and expects a small fiscal deficit this year, on the back of a sharp reduction in home consumption and expectations that the European Commission will proceed with a major downward revision of its growth forecast for the euro-zone. Finance
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Equity markets traded slightly lower and the dollar edged up against a basket of major currencies on Friday as investors awaited key U.S. jobs data for the latest reading on the stricken U.S. economy. Analysts predict the world's largest economy probably shed more than half a million jobs last month, bringing job losses in 2008
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Activist investor Carl Icahn called for changes in federal bankruptcy laws which he argues are thwarting the private investment which is more appropriate than public funds for reviving the banking system. "Why should taxpayers foot the bill when there are trillions of dollars in private money on the sidelines in the world financial markets?" Icahn
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U.S. employers probably cut the most jobs in at least 34 years last month as the global economic crisis gathered pace and moves by policy makers took time to filter through to struggling companies. The U.S. government jobs reports due later on Friday will provide the latest grim assessment of a global financial crisis that
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Vast, empty spaces in the middle of the show floor. Knots of uniformed salespeople standing idly next to flickering screens. A slow-moving crowd drifting from one display to the next. Can this really be the much-touted Consumer Electronics Show in Las Vegas, the premier global technology showcase that in years past has been described as
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Sony Corp introduced on Thursday a bendable video screen, a Wi-Fi camera and eyeglasses that display movies, saying the industry must keep innovating in the midst of a severe economic slump. The Japanese firm, which pioneered the Walkman and once dominated the high-end electronics marketplace, is hoping a swathe of new products will spur spending
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Flash memory card maker SanDisk Corp on Thursday rolled out a family of what it called the world's fastest multi-level cell, solid-state hard drives. At the Consumer Electronics Show in Las Vegas, SanDisk showed off its new G3 series SSDs, designed as drop-in replacements for hard disk drives in notebook computers. They will come in
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President-elect Barack Obama's economic team is urgently overhauling the $700 billion financial rescue package to broaden its scope beyond Wall Street, The Washington Post reported on Friday. Treasury Secretary nominee Timothy Geithner and other senior economic advisers are working to expand the program's aid to municipalities, small businesses, homeowners and other consumers, the newspaper reported,
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Asian stocks edged down and the U.S. dollar drifted higher on Friday, as investors braced for the December U.S. payrolls data, expected to show sharp job losses and dash hopes for a speedy recovery this year. Major European stock markets were expected to open as much as 1 percent higher, according to financial bookmakers, after
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