Renewed pressure in international markets, starting from a 4.4% decline in the Shanghai Index, which was followed by early Thursday weakness in Europe forced Cypriot titles sharply lower. Asian investors marked Chinese stocks lower on fears that the Peoples Bank of China may be forced to accelerate the pace of the Chinese yuan appreciation as
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Capital Intelligence, the international rating agency, has raised the long-term foreign currency rating of the Republic of Cyprus to ‘A+’ from ‘A’ and affirmed its short-term foreign currency rating of ‘A1’. The outlook on the ratings remains ‘stable’. The ratings upgrade is driven by the strong structural improvement in the public finances over the past
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Commissioner Meglena Kuneva today set out a series of initiatives where action will be taken to strengthen the enforcement and implementation of product safety controls currently in place in the EU. Priority measures which will move forwards in the coming months include: an in-depth audit of business safety measures in the toy supply chain (completion
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Illegal drug use in the EU may have stabilised for the first time in a decade, but cocaine use continues to increase, according to the 2007 Annual Report on the State of the Drugs Problem in Europe, launched today by the European Monitoring for Centre for Drug Addiction and Drugs “This year’s report brings good
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About 75% of all new malware that appeared in the third quarter of this year were Trojans, according to data from the PandaLabs Q3 2007 report. “Trojans are still, by far, the most numerous category of new malware. This is because this type of malicious code is an ideal tool in the new malware dynamic,
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Ericsson announced its latest evolution in low-energy telecommunication solutions, a solar-driven and energy-efficient main-remote GSM base station deployed in conjunction with leading Indonesian operator PT Telekomunikasi Selular (Telkomsel). The breakthrough deployment will provide macro coverage in the untapped areas of Sumatra and address the mobile communications needs in the rural areas in Indonesia. The Main-Remote
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Gulf Cooperation Council area investment into the IT industry is poised to reach USD 5 bln in 2007 with Saudi Arabia and the UAE accounting for 47% and 30% of this total, respectively, according to the latest IDC reports. Addressing the demands of the booming SMB sector, which is driving the investment, NETGEAR, a leading
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In the course of the latest reform of the EU sugar market regime, talks are currently taking place in Hungary between sugar beet growers, the Ministry of Agriculture and the sugar industry, with the goal of returning 50% of Hungary’s sugar quota to the restructuring fund. This step, and the associated compensation payments to farmers,
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After a brief turnaround in the summer season the number of tourist arrivals in Cyprus slipped back again in October, reaching 275,103 according to the Passengers’ Survey, compared with 283,046 in October 2006. Arrivals thus fell by 2.8% compared with the same month of the previous year. The important UK market continued to underperform, with
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— Wants ASE to block new dual listings from Cyprus  The Cyprus Stock Exchange is in negotiations with the stock exchanges of Egypt, Jordan and Dubai with a view to attract new listings, while at the same time it is asking the Greek stock market authorities to reject applications from Cyprus for a dual
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