WASHINGTON - Apple Inc came under fire on Tuesday at a Senate hearing over an investigation that alleged the U.S. high technology icon has kept billions of dollars in profits in Irish subsidiaries and paid little or no taxes to any government.

"Apple effectively shifts billions...More

DUBLIN — Ryanair has reported record profits as Europe's largest budget airline expands across the continent.

The Dublin-based carrier said Monday its full-year net profit rose 13 percent to 569.3 million euros ($729 million), eclipsing last year's record.

Sales rose...More

SHANGHAI - Any Chinese person investing more than 250,000 euros in real estate in Greece will be given a five-year residence permit without having to fulfill any other criteria.
This is what Prime Minister Antonis Samaras has told a business conference in Shanghai.
The Greek...More

NICOSIA - The Construction sector in Cyprus is following a downward trend for the past four years, with its value shrinking by 38% to 1.9 billion euro in 2012 compared with 3.05 billion in 2008.
This is what President of the Federation of Associations of Building Contractors Cyprus Costas...More

 NICOSIA – The Central Bank of Cyprus (CBC) has announced the preliminary consolidated balance sheet of Bank of Cyprus which under a €10b bailout agreement with the ESM/IMF has absorbed the good part of Cyprus Popular Bank which will be wound down.
According to the CBC, Bank of Cyprus...More

 LONDON – North London MPs Mike Freer, Nick de Bois and Andy Love held a meeting today with Cypriot High Commissioner Alexandros Zenon at the Houses of Parliament to discuss the ongoing banking problems on the island. 
The Commercial Counselor...More

 PARIS — The recession across the economy of the 17 European Union countries that use the euro extended into its sixth quarter — longer than the calamitous slump that hit the region in the financial crisis of 2008-9.

Eurostat, the EU's statistics office, said Wednesday that...More

  NICOSIA - Cyprus remained mired in recession in the first quarter, with economic output shrinking 1.3% from the previous three months in the bailed-out island state which narrowly averted economic collapse this year.
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It shrank 4.3% on a yearly basis, preliminary data from the...More

 NICOSIA - The appointment of the Chief Executive Officer for the Bank of Cyprus will be made in the coming days, Government Spokesman Christos Stylianides said after Monday’s meeting between President Nicos Anastasiades, the Board of Directors of the BoC and the Central Bank Governor Panicos...More

 BRUSSELS - Eurozone finance ministers met at 3.30pm Cyprus time Monday to discuss, among other things approval of the first tranche of the €10b financial assistance programme to Cyprus, amounting to €3b.
The funds should be disbursed in two parts, €2b in mid May and €1b by the end of...More