British house prices rose for the fourth month running and at their fastest monthly rate in 2-1/2 years in August, the Nationwide Building Society said on Thursday, in a further sign the housing market is picking up. The mortgage lender said house prices rose 1.6 percent this month after a 1.4 percent rise in July.
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G20 countries should ensure they have plans to withdraw the huge stimuli put into their economies but are clear the fiscal and monetary boosts remain in place for now, a UK government source told Reuters on Wednesday. "It is vital that countries have an exit strategy but we are very clear that interventions need to
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Nokia Oyj will try again to tackle Apple Inc's iPhone in the top-end of the handset market with a bet on Linux software, several industry sources told Reuters. Top handset maker Nokia will show its first high-end phone running on Maemo, a version of Linux, next week at the annual Nokia World event in Stuttgart,
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European shares fell by midday on Wednesday, snapping a four-session winning streak and shrugging off better-than-expected German economic data, with oil and gas stocks leading the losers. By 1030 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.4 percent at 974.65 points, having been up at 982.07 points earlier. The index is
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Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Gulf Bank in Kuwait to D+ from C-. Consequently, the long-term global local currency (GLC) and long-term foreign currency deposit ratings were also downgraded to A3/Prime-2 from A1/Prime-1, respectively. All ratings remain on review for further possible downgrade as the bank still faces
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A 10.9% fall in tourist arrivals has taken its toll on consumption of locally produced beer in Cyprus, with local consumption in January-July 2009 down 11.9% over the same period of the previous year according to Financial Mirror calculations, at 21.2 mln litres. Exports of beer, which include supplies to aeroplanes and ships, fared even
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From 1st September 2009, incandescent light bulbs will gradually be removed from the European market. ANEC, the European Consumer Voice in Standardisation and BEUC, the European Consumers’ Organisation, welcome the phasing-out of incandescent light bulbs. Not only will consumers benefit financially from the measure, but most importantly, they will be able to contribute to improved
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Apoel announced that more than 21,000 tickets have been sold for Wednesday night’s return leg Champion’s League match in Nicosia with FC Copenhagen. Some 300 fans from the Danish club are also expected to turn out. This is a record sell out for the 22,000-capacity GSP stadium for such an international event, exceeding rival Omonia’s
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Oil edged above $72 a barrel on Wednesday on bullish economic data and firm equities, but prices remain more than $2 below the 10-month high hit in the previous session as a surprise jump in U.S. crude stocks hit sentiment. U.S. crude for October was up 36 cents to $72.41 a barrel by 0847 GMT,
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Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Burgan Bank (Kuwait) to D+ from C-. Consequently, the long-term global local currency (GLC) and long-term foreign currency deposit ratings were also downgraded to A2 from A1, respectively. All ratings carry a negative outlook. Moody's rating action reflects weakening credit conditions in Kuwait
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