The U.S. dollar rallied to a five-and-a-half month high against the euro on Monday, boosted by another drop in crude oil prices and speculation that the slowdown blighting the U.S. economy was spreading worldwide. The euro, which last week suffered its biggest weekly fall since its 1999 inception, briefly fell below the $1.49 level on
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The Nikkei average fell 1 percent on Tuesday as Nippon Steel and other stocks seen linked to growth in emerging economies tumbled on concern about slowing growth in China. Metal shares such as Sumitomo Metal Mining Co also took a beating after copper and zinc prices slid as investors pull money out of the asset
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Gold tumbled to its weakest in almost eight months in volatile trade on Tuesday, losing its safe haven appeal as investors shifted some of their money back into the U.S. dollar and oil further retreated from record highs. Platinum and silver also dropped to their lowest level since December to track gold, while thinly-traded palladium
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India's state-owned phone company's plans to raise $10 billion in the biggest local IPO must overcome waning foreign investor interest in a country whose share markets have dropped by a quarter this year. There has been no timeline for Bharat Sanchar Nigam's BSNL.L IPO, but the company expects the issue in six months. Bankers said
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Sumeet Desai The world may have changed on August 9 last year as the credit crunch first bit, and even some policymakers are beginning to question whether the way they work out what's happening in the economy is flawed. The market upheavals which started a year ago have now spread to the wider economy. They
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LONDON (Reuters) – The cost of taking out the most popular type of fixed-rate mortgage fell last month for the first time since February, Bank of England data showed on Monday. The drop is welcome news for homeowners who had seen the cost of mortgage finance rocket to an eight-year high, but analysts cautioned that
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Registrations of motor vehicles in Cyprus rebounded in July, rising by 18.2% over the same month of 2007 to 7,077. This brought total registrations of motor vehicles to 42,303 in January – July 2008, 5.0% higher than the 40,285 recorded in January – July 2007. Private saloon car registrations rose by 2.5% to 30,304 from
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The consumer price inflation in Cyprus rose again in July, recording 5.6% over July 2007, compared with 5.5% in June and only 2.4% in July 2007. Rates above 7% were recorded in the prices of transport (8.6%); restaurants (8.5%); housing, water, electricity and gas (7.7%); and food and non-alcoholic beverages (7.4%). Compared with the previous
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On the basis of preliminary estimates for foreign trade in Cyprus in June 2008, total imports/ arrivals reached EUR 582.5 mln, of which EUR 367.7 mln comprised arrivals from other member states of the EU and EUR 214.8 mln imports from third countries. Total exports/dispatches reached EUR 105.3 mln, of which EUR 72.7 mln were
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European shares rose by midday on Monday after hitting 6-week highs as a firmer dollar boosted automotive stocks and fighting between Russia and Georgia pushed up oil prices, and with them, oil shares. By 1039 GMT, the pan-European FTSEurofirst 300 index was up 0.8 percent at 1,208.42 points, having hit its intra-day high of 1,210.79
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