Moody's Investors Service placed Cyprus's Aa3 government bond ratings on review for a possible downgrade, the rating agency said on Thursday. Citing a recent deterioration in fiscal metrics, competitiveness issues and the Cypriot banking sector's exposure to macroeconomic stress in Greece, Moody's said the rating could be adjusted downwards by more than one notch.
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Hong Kong shares ended higher on Thursday, extending their gain for the week to more than 5% as broad buying of large caps, in particular technology and laggard financial issues, by funds helped lifted the market. Hong Kong's benchmark Hang Seng Index closed up 0.47% at 24,238.98, with turnover at the highest since November 30,
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China will cast a sceptical eye over a U.S. offer to free up trade in high-tech goods and will refuse to be drawn into a bargain to speed up appreciation of its yuan currency, Chinese government advisers and economists said on Thursday. U.S. Treasury Secretary Timothy Geithner said on Wednesday that Washington was "willing to
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Tesco, the world's No. 3 retailer, posted a smaller-than-expected rise in Christmas sales, joining the ranks of British retailers to blame severe winter weather for hitting purchases of non-food goods. The increase was better than the declines reported by a string of other British retailers on Thursday, including electricals specialist Dixons, general merchandise group Home
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Lebanese President Michel Suleiman asked Prime Minister Saad Hariri on Thursday to remain as head of a caretaker administration after the collapse of his 'national unity' government, the national news agency said. The announcement came a day after Hezbollah ministers and their cabinet allies resigned from Hariri's government over disagreements about a U.N.-backed tribunal investigating
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Home Retail, Britain's No. 1 household goods retailer, said sales had fallen less than analysts expected at both its Argos and Homebase units in the run-up to Christmas, and forecast yearly profit in line with its own previous forecast. The company said on Thursday it expected full-year pretax profit to be around the mid-point of
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Dixons Retail, Europe's No. 2 electricals retailer, forecast full-year profit around the bottom end of market expectations after Christmas sales in the UK were hit by December's adverse weather. The company, which runs the Currys and PC World chains in Britain, UniEuro in Italy, Elkjop in Nordic countries and Kotsovolos in Greece, said on Thursday
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Israel's Delek Group has proposed to Cyprus the creation of a liquefied natural gas (LNG) facility on the island to process reserves Israel has discovered offshore and Cyprus hopes to find nearby, according to a newsflash issued by the Middle East Economic Survey. Delek has written to the Cypriot government proposing cooperation to set up
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Airbus basked in the world's biggest commercial plane order on Wednesday, with shares in parent EADS lifted by news of its $15.6 bln 180-aircraft deal with Indian airline IndiGo. The agreed purchase underlines India's development as a major aviation market and provides a welcome boost to EADS Chief Executive Louis Gallois, who has been pushing
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Britain's bank bonuses row flared into life on Wednesday as a report the boss of bailed-out British bank Lloyds will take a 2 mln pound bonus clashed with a new government pledge to curb payouts. The Conservative-Liberal Democrat coalition government is struggling to clamp down on banker pay and quell public anger over perceived excesses
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