NEW YORK (Reuters) – Ground-breaking on new U.S. homes last month fell to the slowest pace since 1991 and fewer building permits were issued than any time since 1993, according to government data released Thursday that points to a deepening housing crisis and heightened risk of recession. In the labor market, the number of workers
More
The Director General of the Cyprus Stock Exchange, Nondas Metaxas has been elected as a member of the Federation of European Securities Exchanges (FESE) Board for a two year period and among others will also as Chairman of the FESE Budget and Audit Committee. Jukka Ruuska, FESE President, speaking on behalf of the FESE Board
More
The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Abdalla Salem El-Badri, arrived in Cyprus last night as a guest of the Nicosia Chamber of Commerce and Industry to give a public address tonight. Christodoulos Angastiniotis, President of the Nicosia Chamber of Commerce, said that during the dinner to be held at
More
The Employers and Industrialists Federation (OEV) is hosting its second annual conference on the economy focusing on entrepreneurship and competitiveness that will take place at the Holiday Inn in Nicosia at 3pm next Tuesday. All three presidential hopefuls – incumbent President Tassos Papadopoulos, House President Demetris Christofias and Euro MP Ioannis Kasoulides – are expected
More
— Smooth transition from pounds to euros  PricewaterhouseCoopers’ latest economic analysis shows that the Cyprus economy continued to grow at a rapid pace in the third quarter of 2007, and is expected to expand by 4.1% in 2008 as a whole after an estimated 4.2% growth in 2007. This growth is significantly above the
More
It was natural to expect that in their zeal to grab every vote, the three main presidential hopefuls would offer all sorts of packages to lure in the undecided voters. And as was to be expected, the young and the elderly are being promised heaven and earth as the candidates target the two groups likely
More
BT announced that it has completed the acquisition of 68.6% of Net2S SA’s outstanding issued share capital from four controlling founding shareholders at a price of €5.27 per share. The deal values the entire outstanding issued share capital of Net2S SA at €68.5 mln. Subject to approval from France‘s Autorite des marches financiers, BT will
More
Motorola, Inc. announced that its subsidiary, MI, Inc., has successfully completed its tender offer to acquire a controlling interest in Vertex Standard Co., Ltd. of Japan, a global provider of 2-way radio communication solutions. The tender offer period expired on January 15 with 5.4 mln shares tendered and accepted. Following the settlement of the tender
More
Sony Ericsson announced that over 100 million units were sold in 2007 sold – more than double the global market growth rate. The company said that margins remain strong as the company shifts to a broader portfolio. Unit growth was underpinned by increased sales of lower priced phones  with 145 mln music-enabled phones sold to
More
European Consumer Protection Commissioner Meglena Kuneva will present in Strasbourg today the “Europa School Diary 2008” to the European Parliament. This key tool for students will be printed in more than 2.7 mln copies, in all EU languages, and can be ordered by schools free of charge on a first come, first served basis. It
More