Japan's Nikkei stock average slipped 0.9 percent on Tuesday as worries over General Motors spurred investors to lock in profits on auto shares, while banks rose after better-than-expected results from U.S. peers. Retailer Aeon Co Ltd, which is set to report full-year results after the close, fell 4.8 percent after its unit Talbots Inc posted
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The yen pared earlier losses and gained broadly on Tuesday, as investor appetite for risk was put on hold following a slide in stock prices. But analysts said the yen's respite could be cut short if share markets were to be cheered by U.S. corporate results due later in the day. Stock market swings have
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Iranian presidential candidate Mirhossein Mousavi has ruled out suspending uranium enrichment but would work to verify Iran was not diverting its nuclear programme for weapons, the Financial Times reported on Tuesday. Prime minister during Iran's 1980-88 war with Iraq, Mousavi, 67, is seriously considered by many moderates and even some conservatives as their main presidential
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President Barack Obama is expected to tap Fannie Mae Chief Executive Herb Allison to head the U.S. government's $700 billion financial rescue program, The Wall Street Journal reported, citing people familiar with the matter. Obama could announce his intention to nominate Allison as assistant secretary for the office of financial stability as early as this
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A senior Greek official and two accomplices were found guilty on Monday of eliciting bribes, the first verdicts handed down in connection with several major scandals shaking the government. A court sentenced the former director of Greece's competition watchdog, Panayotis Adamopoulos, a customs official and a merchant to 5-1/2 years jail, suspended, and fined each
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“The forthcoming visit of the Greek Prime Minister in Nicosia will reaffirm Greece’s support and active assistance in restoring justice in Cyprus, which will continue unabated”, Greece’s Foreign Ministry spokesman George Koumoutsakos has stressed. In his speech entitled “Greek foreign policy, challenges and opportunities in an era of uncertainty and expectation” delivered on Monday at
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Cyprus Airways announced that in summer they would fly to Dubai more frequently, namely three times a week. Cyprus Airways will connect Larnaca Airport with Dubai with direct flights every Tuesday, Thursday and Saturday. The company also announced that for this air route it offers special low-priced fares starting from 260 euros including all taxes
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Cyprus will inject an additional liquidity of 1 billion euro in the banking system in a bid to stimulate the decline of interest rates and to refinance expiring public dept, Finance Minister Charilaos Stavrakis announced on Monday. Speaking after a meeting with Minister of Commerce, Industry and Tourism Antonis Paschalides and representatives of the island's
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The world will finally get a peek into the finances of troubled U.S. banks this week as earnings season gets under way, but recent accounting changes mean investors might not know what to make of them. High-profile names like Goldman Sachs, Citigroup and JP Morgan will report their first-quarter results following the Easter holiday. Yet
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Oil fell to around $51 a barrel on Monday after the International Energy Agency cut its forecast for oil demand, overshadowing data showing Chinese crude imports rose to their second highest ever. The IEA said on Friday that world oil demand will fall by 2.4 million barrels per day (bpd) this year and said developed
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