Inspectors from the IMF, EU and the European Central Bank are likely to recommend releasing a vital tranche of aid to Greece but Athens must first do more to convince them it can implement reforms, a senior official from the "troika" said on Wednesday. Without the aid, Athens could run out of cash as early
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Asian shares rose on Thursday, as optimism over Europe's efforts to aid the euro zone's financial sector and U.S. data suggesting the economy could avoid recession spurred short-covering and value-hunting. An easing of risk aversion, after an intensive sell-off earlier this week on fears that Europe's debt problems could trigger a new global financial crisis,
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The euro held steady against the dollar on Thursday as uncertainty gripped markets before an ECB meeting that could see rates cut or the rebirth of long-term lending to banks, while Europe's efforts to resolve its debt crisis and solid U.S. data provided tentative support for riskier assets. The euro, last at $1.3331, maintained most
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Brent crude held above $102 a barrel after surging in the previous session as pessimism about weaker demand was outweighed by a surprise drawdown of U.S. inventories and concerns that Libya's largest oilfield could be damaged. Hopes of an early return of Libyan supplies to global markets after months of war were dashed after Italian
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The ranks of the unemployed continued to rise on both an absolute and seasonally adjusted basis according to the latest figures on registered unemployment. According to the Statistical Service, the number of unemployed registered at the District Labour Offices on the last day of September 2011 reached 26,483 persons, a rise of 5,812 or 28.1%
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Liverpool's new owners spent 7.5 million pounds ($11.6 million) for each Premier League point they picked up between last October's purchase of the club and the end of last season, a leading British soccer survey said on Wednesday. The fourfourtwo.com annual football rich list said the Fenway Sports Group owned by John Henry had paid
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Revellers at Germany's Oktoberfest, the world's largest folk festival, consumed a record 7.5 million litres (1.65 million Imp gallons) of beer during the 17-day party which ended on Monday in blazing sunshine. Despite gloom in Germany about the spiralling debt crisis, the festival drew some 6.9 million visitors, many clad in traditional Bavarian lederhosen
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Cyprus will become the richest country in Europe after the drilling and financial exploitation of natural gas, Professor of Chemical and Biomolecular Engineering at Cullen College of Engineering of Houston University Michael J. Economides has said. In statements to CNA, on the sidelines of the “Maritime Cyprus 2011” Conference, held here, Economides said that there
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– Scope for rivals to grab market share ahead of Christmas – Samsung up 2.2 pct, LG rises 2.8 pct, HTC edges up 1.8 pct – Shares in Apple's suppliers fall – Low price could also help Apple expand into developing markets Asian smartphone makers have a chance to exploit a rare letdown from pacesetter
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India unwraps what has been dubbed the world's cheapest tablet computer on Wednesday, to be sold to students at the subsidised price of $35 to expand digital access in the Asian giant that lags peers such as China and Brazil in connectivity. The government says the device, called Aakash, which means sky, will initially be
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