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  • Cyprus sets new record in tourist arrivals

    July 18, 2018 5:46 AM

    NICOSIA, Cyprus (AFP) – More than 1.6 million tourists visited Cyprus in the six months to June, the largest number ever for the first half of the year, the island's statistics office said Tuesday. Tourist arrivals in January-June rose 12.4 per cent to 1.64 million from 1.46 million in the same period last year, according to the Cyprus Statistical Service

  • Jamaica gets a little more innovative

    July 18, 2018 5:46 AM

    Moves up 3 spaces on Global Innovative Index Jamaica improved three places in the Global Innovative Index (GII) 2018: Energizing the Worldwith Innovation to be ranked 81st out of 126 countries. In the 2017 edition of the GII report, titled 'Innovation Feeding the World', the country placed 84th out 127 countries. Jamaica has slowly progressed up the index

  • Virtual currencies not a threat, says stability board

    July 18, 2018 5:00 AM

    An international forum on financial regulation say virtual currencies such as bitcoin do not currently pose a threat to global stability but require "vigilant monitoring" as the market is changing rapidly. The Financial Stability Board, FSB, added Monday that the highly volatile currencies raise concerns about consumer and investor protection and that data on banks'

  • Lab-grown meat could be in restaurants in three years

    July 18, 2018 5:00 AM

    A Dutch company that presented the world's first lab-grown beef burger five years ago said on Tuesday that it has received funding to pursue its plans to make and sell artificially grown meat to restaurants from 2021. Mosa Meat said that it raised €7.5 million (US$8.8 million), mainly from M Ventures and Bell Food Group. M Ventures is an investment

  • Canadian planned to split lottery winnings — until she won

    July 15, 2018 6:01 AM 1

    MONTREAL, Canada (AFP) — The delight that normally comes when two family members win a big lottery prize instead sparked a bitter feud in rural Canada when an aunt said she would be suing her nephew for the entire sum. “See you in court,” Barbara Reddick told nephew Tyrone MacInnis, even as they were posing Thursday with an oversized cheque representing

  • US expected to become world's top oil producer next year

    July 15, 2018 6:01 AM

    NEW YORK, United States (AP) —The US has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world's biggest oil producer for the first time in more than four decades. The latest forecast from the US Energy Information Administration predicts that US output will grow next year to 11.8 million barrels a day. “If the forecast holds

  • Sagicor Bank launches SWYPE for mobile payments

    July 15, 2018 4:33 AM 1

    Sagicor Bank Jamaica Limited has fielded a mobile point-of-sale device which can be used by merchants and small business persons on the go, potentially widening the market for cashless transactions. SWYPE, the new mobile device, is cheaper and likely to reach a wider market, said Sagicor Bank CEO Chorvelle Johnson on Thursday. Cashless trade is on the increase

  • Small metal fabricator has big ambitions but limited options

    July 13, 2018 4:23 AM 4

    At twenty-four, Michael Zheng has taken over as head of metal fabricator Dawn Industry Limited from father Keping Zheng, with big dreams of operating a 50,000-square-foot factory as a special economic zone facility. However, as things stand, father and son are some distance away from that goal. But Michael believes that, as a pioneer industry with significant

  • Canada coffee chain Tim Hortons to open 1,500 stores in China

    July 12, 2018 5:32 AM 4

    Montreal , Canada (AFP) — Canadian coffee shop chain Tim Hortons announced Wednesday it will open more than 1,500 branches in China over the next decade. “China's population and vibrant economy represent an excellent growth opportunity for Tim Hortons in the coming years,” said Alex Macedo, president of the company known for its coffee and donuts

  • India muscles past France in World Bank ranking

    July 11, 2018 5:43 AM 5

    PARIS, France (AFP) — India has become the world's sixth-biggest economy, pushing France into seventh place, according to updated World Bank figures for 2017. India's gross domestic product (GDP) amounted to US$2.597 trillion at the end of last year, against US$2.582 trillion for France. India's economy rebounded strongly from July 2017, after several