US Ambassador to Cyprus Ronald Schlicker has said that his country’s message to both Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat is that it supports the efforts that they have ownership of, under UN auspices, to reach an agreement on the reunification of the island in a way that’s acceptable to
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Euro zone inflation jumped to another record high of 4.1% year-on-year in July as forecast, data showed on Thursday, but a bleak economic outlook may discourage a further interest rate increase this year. Price growth in the 15-nation euro area accelerated from July's 4.0%, moving further above the European Central Bank's target of just below
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Deutsche Bank AG announced fresh writedowns on Thursday, taking its bill from the global financial crisis beyond $11 bln. Germany's flagship financier had originally been seen as one of the few to emerge unscathed from the crisis, but as the problems on global markets continue Deutsche Bank is being sucked ever deeper into trouble. The
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Global stocks ticked higher on Thursday following an earlier concerted central bank move to boost liquidity, but a mixed set of corporate results in Europe and a rebound in crude oil prices kept a lid on gains. The dollar retreated from a recent one-month high hit against the euro and yen with the focus on
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Moody's Investors Service has changed its outlook to ‘positive’ from ‘stable’ on Azerbaijan's Ba1 issuer ratings for foreign- and local-currency government debt, taking into account the low government debt and the country's excellent medium- to long-term fiscal and external prospects. Large projected surpluses on the consolidated budget position and the balance of payments will reflect
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Nokia Growth Partners, a global private equity and venture capital management firm, announced an additional commitment of USD 150 mln from Nokia, increasing funds under management for direct investments to USD 250 mln. Nokia began sponsoring funds and promoting venture investments in 1998 as a catalyst for innovation in the mobile industry. Nokia commitments to
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Intel Corp, the world's biggest microchip producer, expects no slowdown in global demand for personal computers despite economic problems in the United States and in other countries, Intel Chairman Craig Barrett said on Wednesday. He also told reporters in Lisbon, where he was to sign a draft deal with the Portuguese government to make 500,000
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A former Credit Suisse broker charged with fraud in an auction rate securities scam may have fled to his native Bulgaria, the Wall Street Journal reported on Thursday, citing people familiar with the case. The move comes as prosecutors prepare to bring criminal charges in a probe into activities of two former Credit Suisse brokers
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Royal Dutch Shell Plc reported a 5% rise in second-quarter current cost of supply (CCS) net income to $7.9 bln, and said it beat analysts' forecasts, on the back of high oil prices. The world's second-largest non-government controlled oil company by market value added on Thursday it was raising its investment budget for 2008 to
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LONDON, July 31 (Reuters) – HBOS Plc, Britain's biggest home lender, reported a 51 percent drop in first-half profits on Thursday as it took a 1.1 billion-pound ($2.2 billion) hit on debt securities impacted by the credit crunch. But HBOS's shares jumped 7.9 percent to 293 pence, the top performing UK stock, as dealers said
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