Russia has proposed a meeting with OPEC member countries in Moscow in the autumn, Russian news agencies quoted Energy Minister Sergei Shmatko as saying on Thursday. "OPEC is obviously interested in maintaining, at a minimum, the same level of contact that we had last year," Itar-Tass news agency quoted Shmatko as saying after a government
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Britain's top share index was 0.1 percent lower mid-session on Thursday as investors liking for risk was showing signs of fatigue ahead of a long holiday weekend following recent hefty gains. London markets will be closed on Monday. Banks and miners were the main drag, hit by profit taking, while drinks group Diageo dropped after
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European shares fell 0.2 percent by midday on Thursday as gains in pharmaceuticals and utilities were outweighed by weakness in the beverage sector after Diageo lowered its profit target. By 1102 GMT, the FTSEurofirst 300 of top European shares was down 0.3 percent at 971.02 points, after ending a four-day winning run on Wednesday. The
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Cyprus is facing a decline in all sources of government revenue as the economic downturn bites, hitting the island's public finances, the finance minister said on Thursday. Cyprus, which had posted surpluses for the past two years, had previously said it would try to keep its deficit below 3 percent of gross domestic product, the
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Cypriot Hellenic Bank posted a 96% drop in first-half net profit to EUR 2.06 mln compared to profits of EUR 50.89 mln a year ago in the same period but well above analyst forecasts, who in a Financial Mirror poll were expecting breakeven or profits of EUR 1 mln only. Despite the above expectation profit,
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Oil fell towards $70 on Thursday, after touching 10-month highs earlier this week, as swollen crude and distillate inventories outweighed positive economic data from the world's largest consumer, the United States. U.S. crude for October fell 73 cents to $70.70 a barrel by 1321 GMT after falling by more than $1 earlier in the day.
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Hedge fund manager John Paulson, who bet against financial companies after foreseeing the credit crisis, has been buying Citigroup Inc (C.N) shares over the past few weeks, the New York Post reported, citing sources. Paulson bought around a 2 percent stake in Citigroup, a source told the paper. An investor with a 5 percent or
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Business investment in Britain fell 10.4 percent in the second quarter of this year compared with the first, the steepest drop since 1985, preliminary official data showed on Thursday. Compared with a year ago, investment fell 18.4 percent, the biggest drop since records began in 1967, the Office for National Statistics said, taking total business
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Britain's top share index was up 0.2 percent in early trade on Thursday as investors paused after hefty gains earlier in the week, while Diageo fell after it cut its profit target. By 0817 GMT, the benchmark FTSE 100 was up 10.91 points at 4,901.49 in a choppy opening session, after closing 26.22 points lower
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Airlines carried 11.3 percent less cargo and 2.9 percent fewer people in July than in the same month a year ago, a global industry body said on Thursday. But the year-on-year declines were less than in June, and compared with the previous month both measures increased by more than 3 percent, the International Air Transport
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