World stocks sank towards 14-year lows in a broad-based sell off on Monday, dragged lower by economic gloom in Europe and Asia, where Japan recorded its largest current account deficit on record. The dollar was higher against other major currencies. MSCI's all-country world stock index was down 1 percent, bringing year-to-date losses to around 24
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The European Union is set to back an International Monetary Fund call for $500 billion to fight the global financial crisis, a document showed on Monday as Japan posted its first current account deficit in 13 years. A key U.S. policymaker said a coordinated global effort was needed to stimulate demand and drag the world
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American International Group Inc had warned of turmoil around the globe if the government allowed the insurer to fail when it appealed to U.S. regulators for its latest rescue, Bloomberg said citing an AIG presentation dated February 26. AIG needed immediate help from the Federal Reserve and Treasury to prevent a "catastrophic" collapse that would
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We are ready to work hard to find a settlement of the Cyprus question the soonest possible, Cyprus President Demetris Christofias said here on Sunday, adding that this settlement must be based on the fundamental principles of the international and European law, through mutual understanding. He added that despite the fact that the settlement will
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Cyprus beat Portugal with 3-2 in a tie for the first round of the Davis Cup's Europe/Africa Zone Group II The victory secured Cyprus' stay in the Group. In the second round, Cyprus will face next July Ireland which defeated Algeria. The tie took in place in Cyprus' National Tennis Centre in Nicosia. On Friday,
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Microsoft Corp is developing a feature in its new operating system that allows users to turn off Internet Explorer and other key Microsoft programs. The new feature is a major step for the world's largest software company, which has been accused by competitors and regulators of forcing consumers to run its own software, squeezing rivals'
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Bank of Cyprus announced that On 7 March 2009, Andreas Artemis, Vice Chairman of the Bank of Cyprus Board of Directors and Senior Independent Director completed nine years of service as a member of the Board of Directors. Consequently, as of that date, he is no longer considered as an independent Director according to the
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China Mobile, the world's largest mobile carrier, is in talks with Taiwan's three major mobile phone network operators to cooperate on roaming services, chairman Wang Jianzhou said on Monday. Wang said talks had been held with Chunghwa Telecom, Taiwan mobile and Far EasTone Telecommunications about potential cooperative arrangements. "I think we will work closer with
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Extremist groups in Southeast Asia are increasingly using the internet and social networking to radicalize the youth of the region, said a new security report released Friday. Internet usage in Southeast Asia has exploded since 2000 and extremist groups have developed a sophisticated online presence, including professional media units. "For extremist groups in our region,
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Britain's economic downturn will be deeper than previously thought this year and the recovery will be muted, the British Chambers of Commerce said on Monday. According to the lobby group's latest forecasts, the economy will contract by 2.8 percent this year, markedly worse than its January prediction for a decline of 2.2 percent, and driven
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