A weaker oil price reflecting poor economic demand ahead shut off a rally in world stocks on Friday while government bond yields sank and the dollar recovered from early losses. Oil fell below $54 a barrel, on course to end the month down more than 20 percent, as OPEC ministers prepared to meet in Cairo

OPEC ministers said on Friday they were likely to defer a decision on their third output cut until next month, despite an accelerating slump in fuel demand that has slashed the price of oil by two-thirds since July. Caught off guard by a severe decline in energy consumption in the West, the Organization of the

Britain's government bought a majority stake in one of the country's biggest banks and Germany's Commerzbank accelerated its takeover of a rival as the shake-up of European banks gathered pace with help from taxpayers and shareholders. Britain's move was the latest attempt by countries around the world to shore up ailing banks amid a global

New media and old can clash and crowd each other out, but blogger extraordinaire Arianna Huffington argues in a new book that the two worlds are rapidly joining together to bring out the best in each other. Traditional journalists are blogging, while bloggers are gaining credibility and stature in traditional media, Huffington said in a

Almost 95% of enterprises in Cyprus are using a computer and 89% of them have access to the internet, according to data released by the Statistical Service of the Republic of Cyprus. The data comes from the annual survey “Information and Communication Technologies Usage and E-Commerce in Enterprises 2008”. The survey was carried out for

The percentage of Cypriot households with access to a computer keeps increasing, reaching 56,3% in 2008, compared to 53,1% in 2007, according to an annual survey conducted by the Statistical Service of the Republic of Cyprus. The survey, entitled “Information and Communication Technologies Usage in Households and by Individuals 2008”, was carried out for the