By Robert Birsel (Reuters) Prospects for political stability in Pakistan faded on Tuesday, a day after a split in the ruling coalition, with a battle looming over who will become the next president of the nuclear-armed U.S. ally. The resignation of the unpopular Pervez Musharraf as president last week raised hopes the coalition, led by
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By Matt Falloon and Christina Fincher LONDON, Aug 26 (Reuters) – British approvals for new home loans fell 65 percent on a year ago in July to hold near a record low and the British Bankers' Association said on Tuesday it was not expecting a housing market recovery soon. The survey added to evidence pointing
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Russian President Dmitry Medvedev convened security chiefs on Tuesday to consider a plea from parliament to recognise two separatist regions of Georgia as independent, a move Washington says would be unacceptable. The meeting came amid signs Moscow was preparing for a showdown with the West over its action in Georgia. Georgia and Russia fought a
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Oil rose more than $1 to reach $116 a barrel on Tuesday, bouncing off lows as concerns arose about possible disruption to U.S. offshore oil and gas output from a strengthening Hurricane Gustav. The U.S. National Hurricane Center said Gustav, a category one hurricane, had strengthened slightly in the central Caribbean as it churned toward
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Cyprus’ new permanent Representative to the UN Minas Hadzimichael conveyed to UN Secretary-General Ban Ki Moon, the commitment of President of the Republic Demetris Christofias during the direct talks that will begin on 3 September. Presenting his credentials to Ban, the new ambassador said that President Christofias looks forward to the UNSG and the international
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Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 ticked up 0.1-0.2% on Tuesday, pointing to a slight recovery on Wall Street after sharp falls on Monday. * Retailer Big Lots Inc, which specializes in sales of excess inventory, is the only S&P 500 company scheduled to report. * Also
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Oil fell by more than $1 a barrel to below $114 on Tuesday as the U.S. dollar strengthened, countering concern that Hurricane Gustav could threaten oil installations in the Gulf of Mexico. The dollar hit a six-month high against the euro on Tuesday after weak German data highlighted a flagging euro zone economy. Dollar strength
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World stocks hit their lowest level in almost two years on Tuesday as a worsening German business mood and fresh concerns about financial firms triggered a sell-off in risky assets, lifting the dollar to a 2008 high. The Munich-based Ifo economic research institute said its business climate index fell to 94.8 this month from 97.5
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Oil hovered around $115 a barrel on Tuesday as the dollar strengthened, but losses were limited as tropical storm Gustav in the Caribbean turned into a hurricane, stoking concerns over output disruptions in the Gulf of Mexico. Also supportive were tensions between the West and Russia over Georgia and expectations that oil exporter group OPEC,
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Global miner Rio Tinto posted a better-than-expected 55% jump in first-half profit, boosted by its 2007 takeover of Alcan and strong Chinese demand, and raised its dividend on Tuesday. At a time when economists have been slicing their forecasts for commodity prices, Rio Tinto, like its hostile suitor BHP Billiton Ltd/Plc, was confident in its
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