British interest rates are bearing down on the economy but that is justifiable given the inflation outlook, Bank of England policymaker Timothy Besley said in an interview published on Thursday. "(Rates) are mildly restrictive, yes. But, given the prospects for inflation, a mildly restrictive rate is justifiable," Besley told the Daily Telegraph newspaper. Besley, who
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European stocks inched higher in early trade on Thursday, with energy shares gaining ground after Royal Dutch Shell posted a rise in quarterly results, while investors digested a raft of corporate results. On the downside, Unilever shares fell 5.8 percent after the company's quarterly sales figures failed to impress the market. At 0707 GMT, the
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Cypriot Anorthosis Famagusta FC took a giant stride towards the UEFA Champions League third qualifying round with a 3-0 victory over SK Rapid Wien, in a match held in Larnaca’s Antonis Papadopoulos Stadium yesterday. Ioannis Skopelitis opened the score for Anorthosis in the 35th minute, and Lukasz Sosin scored twice at the second half, at
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Most Asian stock markets rose on Thursday after a move by central banks to boost liquidity in stormy financial markets balanced out a $4 rebound in oil prices and the constant fear of slowing growth and rising inflation. The U.S., European, and Swiss central banks extended emergency lending facilities on Wednesday for investment banks and
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British house prices fell 1.7 percent on the month in July and at the fastest annual rate since at least 1991, the Nationwide building society said on Thursday, in a further sign the housing market is cooling fast. Nationwide said the average house price fell for a ninth straight month in July to 169,316 pounds
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According to the Cyprus Central Bank’s (CB) Economic Bulletin for June 2008, GDP growth is expected between 3.6% and 3.7% in 2008 and 2009 respectively from 3.9% and 3.8% previously. According to CB’s estimates, inflation is expected at 4.2% in 2008 driven by the surge in the prices of oil, food and services. For 2009
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Aspis Holdings Public Co Ltd (ASP) announced its plans to proceed with the reoorganisation of the Group to meet the requirements of Solvency II. At a first step, the Group will proceed with the reoorganisation of Commercial Value (CV), by increasing its share capital to more than EUR90 million within the next two-month period. According
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LONDON, July 31 (Reuters) – British consumer confidence hit a record low this month as people became increasingly despondent about their own personal finances, a survey showed on Thursday. The GfK NOP index fell five points to -39 in July, the lowest since the survey began in 1974, highlighting the uphill struggle facing Prime Minister
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The European Union's enlargement chief urged Turkey on Wednesday to make up for wasted time by pressing ahead with reforms now that the country's highest court has decided not to ban the ruling party. Olli Rehn told Reuters the court ruling, rejecting a state prosecutor's demand to shut down the AKP party for alleged Islamic
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Britain's top share index ended sharply higher on Wednesday as central banks moved to boost financial markets' liquidity, as commodity stocks tracked rising metal and crude prices and insurers posted strong profits. Sentiment was also underpinned by a report showing U.S. private employers unexpectedly added jobs in July. The commodity-heavy FTSE 100 closed 101.5 points
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