Poland will be the second country after Mexico to take advantage of the International Monetary Fund's flexible credit line, Finance Minister Jacek Rostowski said on Tuesday. "Poland's government will soon file to the International Monetary Fund for the flexible credit line," Rostowski told a news conference. "This will increase national bank reserves by about a
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U.S. Federal Reserve Chairman Ben Bernanke said Tuesday the latest figures on housing and consumer spending suggest a rapid contraction in the economy could be easing. "Recently we have seen tentative signs that the sharp decline in economic activity may be slowing, for example, in data on home sales, homebuilding and consumer spending, including sales
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Construction figures for the fourth quarter confirm what was already suspected, namely that there was a fall in construction output in the fourth quarter. The production index in construction for the fourth quarter of 2008 reached 143.5 (base year 2000=100.0), recording a decrease of 4.8% over the same period of 2007. Within the overall total,
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Tourism arrivals in Cyprus fell by 15.2% compared with the same period of the previous year in the first quarter, reaching 194,127 compared with 228,962 in the corresponding period of 2008. The performance was even worse in March. The Passengers Survey showed that arrivals of tourists reached 90,434 in March, a fall of 16.4% compared
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World stocks powered to fresh three-month highs on Tuesday after strong earnings from Goldman Sachs, while jitters about other corporate results kept government bonds and the low-yielding yen on a firm footing. Goldman surprised investors by posting a much higher than expected first-quarter profit and said it planned a $5 billion common share sale to
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White House economic adviser Christina Romer said on Tuesday that the United States will experience continued job losses and a falling gross domestic product for several more months. "We know the economy's still sick. We know we've got several more months of job loss, for example. We know that the numbers on GDP are almost
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Copper leapt as much as 8 percent on Monday to its highest since late October, tracking a rally in the Chinese market and as a fall in inventories improved the outlook for demand. Copper for three-months delivery <MCU3) on the London Metal Exchange hit $4,925 a tonne in early trade, its highest since Oct. 20,
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Dallas Federal Reserve President Richard Fisher said on Tuesday China would not do anything to harm U.S. interests such as dumping Treasuries, adding that solid capital returns support the dollar's attractiveness. Fisher, who was headed to Beijing, soundly rejected the view that China can decouple economically from developed countries such as the United States and
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World stocks rose toward a three-month high on Tuesday after strong earnings from Goldman Sachs, while jitters about other corporate earnings kept government bonds and the low-yielding yen on a firm footing. Goldman surprised investors by posting a much higher than expected first-quarter profit and said it planned a $5 billion common share sale to
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Goldman Sachs' first-quarter profit beat forecasts, a further sign that the worst may be over for financial firms in the eye of the storm, but Singaporedevalued its currency after a record GDP fall. Shares in Asia mostly rose on optimism about the U.S. financial sector after Goldman's earnings, with markets such as Hong Kong and
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