The outlook for Europe next year is a bleak, delegates heard at the Economist Conference in Nicosia on Monday, a range of risks could undermine the downbeat forecast and the risk of a eurozone exit is not yet completely off the table. Describing the eurozone as the “sick man of the global economy”, Laza Kekic,
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Hilary Mantel is favoured to become the first woman to win the coveted Man Booker Prize for fiction twice, with her historical novel "Bring Up the Bodies" ahead of Will Self's "Umbrella" in the bookmakers' rankings. The annual award, one of the world's most prominent literary prizes, will be handed out at a glitzy dinner
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The European Union will win the Nobel Peace Prize on Friday for its historic role in uniting the continent in an award that plays down the euro zone's debt crisis, Norway's NRK public radio said. The prize, worth $1.2 million, will be presented in Oslo on Dec. 10. The decision by the five-member panel, led
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Germany held firm on Friday in insisting it was too soon to say Greece deserved more time to meet its budget-cutting goals even as the head of the IMF laid out the case for leniency. Greece, Spain and the euro zone's slow progress toward debt reform was centre stage at International Monetary Fund meetings despite
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The three main Trade Unions are meeting on Friday with President of the Republic Demetris Christofias in the context of a dialogue with social partners on the government’s counterproposals to the Troika (EC, ECB, IMF). The island’s three main trade unions, SEK, PEO and DEOK, have all indicated their readiness to be constructive. Political party
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Greece, Spain and the euro zone's slow progress toward debt reform took centre stage at IMF meetings on Friday despite Europe's best effort to remove itself from the spotlight. The International Monetary Fund recommended that some of Europe's debt-burdened countries take a bit more time to reduce budget deficits, arguing that moving too fast is
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Asian stocks and the euro steadied on Friday, but were on course for a losing week as worries about weak corporate earnings and slowing global economic growth limit the appeal of riskier assets. A rally that had pushed global equities up around 15 percent from the lows of early June stalled this week. Investors were
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The "Shamoon" virus that attacked Saudi Arabia's state oil company, ARAMCO, was probably the most destructive attack the business s e ctor has seen to date, U.S. Defense Secretary Leon Panetta said on Thursday. Addressing business leaders in New York, Panetta described the virus as sophisticated and noted that a similar attack days later struck
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Worshippers at the Ar-Rahmat mosque in the Indonesian town of Kuta have prayed every night for the past 10 years for the victims of bombs that blew up in their tourist town on Bali island in 2002. "We will pray for the rest of our lives," said Usman, a Kuta resident, wearing a white gown
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Europe launches Friday Galileo`s third and fourth satellites, thus offering more benefits to Europe and its citizens. A European Space Agency official told CNA that Galileo will bring many benefits for Europe’s economy and for the daily life of its citizens. He added that the launch of two more satellites is an important step towards
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