Brent crude held near $109 on Tuesday on cautious optimism that European banks may avert a financial crisis after leaders promised a plan to resolve the region's debt woes while a strike in OPEC member Kuwait threatened exports. World stocks and commodities markets rebounded on Monday, buoyed by the pledge from German and French leaders
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Workers at state-owned Greek companies including oil refiners, power utilities, ports and water operators plan to walk off the job on Oct. 18 to fight planned pay cuts that are part of a new bailout plan, labour unions said on Monday. Wage cuts were originally meant to apply only to civil servants, as part of
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Asian shares rose on Tuesday after China moved to support its stock market by buying shares of major banks, and the euro held the previous session's big gains on hopes that European leaders are finally taking action to protect the continent's lenders. European stock index futures pointed to a steady start after four straight sessions
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Four years ago, Senator Claire McCaskill was one of Barack Obama's biggest boosters in his presidential campaign. But when he recently visited her state of Missouri, she did not have time to join him. Many of McCaskill's fellow Democrats in Congress may also decide they are too busy to be with Obama, whose approval rating
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Hong Kong shares rallied on Tuesday with financials leading the charge a day after China stepped in to prop up beaten down prices on mainland markets in a move widely seen as one designed to bolster investor confidence in the banking sector. Market players remained cautious, however, with early gains on the Shanghai Composite Index
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Germany and France have begun working on a joint package to stem the euro zone debt crisis, but it will not be a "miracle cure" for the bloc's ills, Chancellor Angela Merkel's spokesman said on Monday. Merkel hosted French President Nicolas Sarkozy for talks on Sunday evening, and at a joint presser, they promised to
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The European Tourism Forum of 2012 is to take place in Cyprus during the Cyprus EU Presidency in the 2nd half of 2012, according to a Cyprus Tourism Organisation (CTO) press release issued here on Monday. This was announced during this year’s Forum which took place in Krakow, Poland, between October 5 and 6 within
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A meeting of European Union leaders due to take place on October 17 is likely to be postponed, EU sources said on Monday, with ongoing uncertainty over how Europe will shore up its banks and cope with Greece's debt mountain. The meeting, which was set to discuss the economic crisis, is now likely to happen
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Two Americans, Thomas Sargent and Christopher Sims, won the 2011 Nobel economics prize on Monday. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 42 times to 67 laureates since 1969. The youngest laureate in Economic Sciences was Kenneth J. Arrow, who was 51 when he was awarded the
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Greece's debt crisis is hitting the health of the nation hard, with the number of suicides increasing, more people turning to drugs and prostitution and rapidly rising rates of HIV infections, researchers said on Monday. Swingeing budget cuts and growing unemployment are pushing more people into severe depression and drug-dependence, and cutbacks in hospital budgets
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