By Souhail Karam Saudi Arabia's newly declared $75 a barrel target price for oil aims to ensure crude export revenues can fund ambitious development plans in the kingdom. Saudi King Abdullah on
The Bank of England slashed interest rates by a full percentage point on Thursday to shore up Britain's crumbling economy and head off the threat of deflation. The cut took rates to
Supermarkets have seen the highest turnover this year in terms of payments by credit or debit cards, according to data from JCC, the plastic card joint venture run by the commercial banks.
Inflation in Cyprus fell rapidly in November mainly as a result of falling international oil and food prices. The consumer price index in November 2008 decreased by 1.0% compared with the previous
Central banks in Europe were poised to cut interest rates on Thursday to try to contain a global economic slump that appears to be spreading faster than policymakers had anticipated. Asia-Pacific nations
Asian shares fell on Thursday as more bad news piled up for the global economy, while the dollar and yen steadied as central banks in the UK and Europe were set to
Cyprus attracted 1,.6 bln euros in direct foreign investment in 2007, compared to 1,46 bln in 2006 and 940 mln the year before that. Direct investments from EU member states reached 969.4
Offshore haven Liechtenstein has agreed a landmark deal with the U.S. to drop bank secrecy in cases of tax evasion and could make similar concessions in the European Union, a diplomat from
Paul Taylor The global financial crisis has been a stark reality check for the European Union, exposing divergences over economic policy and highlighting the European Commission's growing difficulty in enforcing common rules.
President Nicolas Sarkozy will announce assistance worth billions of euros for the auto and housing sectors on Thursday in a stimulus package intended to help France's economy through the global downturn. Sarkozy
