OPEC oil producers are likely to keep their official oil production targets unchanged when they meet on Sunday, choosing to enforce existing quotas rather than cut output further, a Reuters poll showed on Tuesday. Nine of 14 analysts polled thought the Organization of the Petroleum Exporting Countries would agree to roll forward production ceilings when
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Less than 12 percent of banks are prepared to lend more than 25 million pounds to prospective commercial property buyers in the United Kingdom, a report from Savills showed on Tuesday. Savills' study and a separate report from Fitch ratings agency, also released on Tuesday, showed that the banks are reluctant to lend in the
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European Union finance ministers on Tuesday backed a call from the International Monetary Fund to double its crisi-fighting funds to $500 billion, ahead of a meeting of G20 finance ministers this weekned, an EU diplomat said. "The terms of reference for the G20 ministerial meeting have been approved," said the diplomat after the 27-nation bloc's
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European stocks rose on Tuesday morning, gaining ground for the first time in four sessions, as a memo from Citigroup's chief helped calm fears over the health of the embattled financial sector. According to the memo from Citigroup's Chief Executive Vikram Pandit obtained by Reuters, the bank was profitable in the first two months of
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World stocks rose on Tuesday after three days of consecutive declines knocked them to 6-year lows, while government bonds slipped as fears grew governments may need to issue huge debt to fund economic stimulus packages. In Europe, a mixed corporate picture allowed investors to buy back after the benchmark equity index hit a lifetime low
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Google Inc's online video site, YouTube, said on Monday it will block all music videos to British users after it was unable to reach a rights deal with the main songwriters' collection society. The world's largest video sharing site said PRS for Music, a British collection society that collects royalties on behalf of nearly 50,000
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Nokia Oyj is betting a wider and more tailored offering of media and software for its phones will prove attractive when its Ovi online store opens in May and goes head-to-head with Apple Inc's App Store. The Apple store has proved the market for software supermarkets in the mobile world, with more than 500 million
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The world economy is likely to shrink to "below zero" this year, in what many are now referring to as the "Great Recession", the head of the International Monetary Fund said on Tuesday. "The IMF expects global growth to slow below zero this year, the worst performance in most of our lifetimes," IMF Managing Director
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Revenue from indirect taxes in February 2009 recorded an increase of 7.1% compared to 4.1% decline in January 2009 according to the Department of Customs and Excise. For the period January – February 2009 indirect taxes receipts were 1.7% higher at EUR 338.1 mln. VAT receipts constitute the majority of indirect taxes receipts (71% of
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Cyprus Minister of Commerce Antonis Paschalides said that Cyprus wants to facilitate the stay of Iranians who buy a house in Cyprus provided that the value of the house exceeds a certain amount and that the funds used for the purchase of the property come from abroad. The Financial Mirror has learned that Iranians buying
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