Global remittances, a key source of revenue for many developing countries, may fall 5 percent in 2009 after years of stromg growth, a World Bank official said on Thursday. Millions of people in poorer countries depend on money sent home by migrant workers, and risk further impoverishment should the economic crisis result in further job
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The earnings season that begins in earnest next week is not expected to bring much joy to investors but it could go some way towards helping them decide whether markets and economies have turned a corner. Investors took their feet off the pedals a bit this week and were heading for the first losing week
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Royal Bank of Scotland said on Thursday it had seen an early average take-up of 51 to 64 percent on its $23 billion three-part bond buyback and exchange offer. The bank said the early take-up offer to exchange 5.75 billion pounds' ($8.5 billion) worth of Tier 1 and Upper Tier 2 bonds into senior unsecured
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A combination of cultural habits and hot summers mean that few Cypriots would consider walking to work. However, more Cypriots walk than one might think, according to the Passenger Mobility survey on short distances (less than 100 km). According to the survey, 78.5% of the households have members who walk. However, the Statistical Service adds
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The industrial output prices index reached 119.2 in February 2009 (base 2005=100), recording a decrease of 0.1% compared to January 2009. For the period January-February 2009, the index showed an increase of 3.5% compared to the corresponding period of the previous year. For manufacturing, the index for February 2009 reached 117.9, the same level as
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The value of both imports and exports in Cyprus dived in February compared with the same period of the previous year, according to preliminary figures for the month. On the basis of preliminary estimates, total imports/ arrivals amounted to EUR 413.8 mln, a fall of 19.8% compared with February 2008, no doubt partly as a
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Oil rose towards $51 on Thursday as rallies on stock markets revived thoughts of economic recovery and subsequent increased demand for commodities. Asian stocks pushed back towards a six-month high on Thursday following gains on U.S. markets, while European equities edged higher ahead of the Bank of England's rate decision later on Thursday. U.S. light
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Industrial output slumped across Europe in February, with German production set to fall further as one of the country's banks came close to nationalisation on Thursday. The grim European data followed Japan's record $154 billion plan to stimulate its economy which boosted Asian shares to a three-month closing high. But investors' caution ahead of a
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Britain's top share index was up 0.2 percent by mid-morning on Thursday ahead of the Bank of England's rate decision, as gains in banks and commodity stocks offset weakness in defensive issues. By 1010 GMT, the FTSE 100 was up 7.85 points, or 0.2 percent, at 3,933.37 in a choppy session, after closing down 0.1
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Britain's goods trade gap with countries outside the EU narrowed much more than expected in February as exports leapt and imports dived, in a sign that the weaker pound may be starting to have an impact. Official data on Thursday from the Office for National Statistics also showed the first annual fall in PPI input
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