There is a palpable sense of hope at the annual Davos World Economic Forum that the euro zone is edging away from the brink of catastrophe but business leaders say Europe's woes are still holding back a global recovery. A growth strategy is the missing ingredient in the policy cocktail that euro zone leaders are
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European shares and the single currency held firm on Wednesday as investor focus switched to the broader economic outlook and some strong results from leading U.S. companies, and away from worries about the stalemate in Greek debt talks. Fresh details on the economic picture are due from Germany, which will release a key business sentiment
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Turkish Prime Minister Tayyip Erdogan attacked the French parliament on Tuesday for passing a "discriminatory and racist" bill which makes it illegal to deny the killing of 1.5 mln Armenians by Ottoman Turks nearly a century ago was genocide. With passions running high in Turkey on Monday's Senate vote, one newspaper denounced the French president as
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Passenger ship operators should tighten up safety procedures and crew training standards to prevent a repeat of the Costa Concordia shipwreck, potentially the costliest marine insurance loss on record, shipping insurers said on Tuesday, "In the past, we have raised and discussed a number of issues that will definitely come out of this investigation, like
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Abu Dhabi has approved a raft of projects including the delayed branches of the Louvre and Guggenheim museums after a review of development plans, signaling the oil-exporting Gulf emirate's support to state-linked enterprises. "Budgets and opening dates were approved for the museum projects in the cultural district on Saadiyat Island," the website of Abu Dhabi's
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Oil prices fell on Tuesday in choppy trading on revived concerns about the euro zone region's debt problems and their potential to slow the global economy, even as tensions between Iran and the West helped limit losses. Europe's policymakers are struggling to come up with a plan to prevent a Greek default, which would harm
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Greece's private creditors pleaded on Tuesday with European officials who rejected their bond swap offer to hammer together a deal before Athens tumbles into a chaotic default. Athens' hopes for a swift deal with lenders were evaporating after euro zone ministers on Monday rejected creditors' demand for a 4% coupon, or interest rate, on new,
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Hungarian Prime Minister Viktor Orban pledged to address swiftly EU concerns over changes to Hungarian law, European Commission President Jose Manuel Barroso said on Tuesday following talks. Earlier this month, the Commission launched infringement procedures against Hungary relating to new laws, chiefly the independence of the country's central bank, its data protection authority and measures
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The number of building permits continued to decline in November, falling by 18% compared with the year earlier to 601. The total value of these permits reached EUR 145.1 mln and the total area 153.8 thousand square metres. These building permits provide for the construction of 572 dwellings, a drop of 40.8% compared with November
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**Arrivals up 10.1% in 2011 ** The tourism sector had its best year in over a decade in 2011 , with arrivals rising by 10.1% compared with the previous year, up from an increase of 3.2% in 2010. The last time tourism arrivals rose in double digits was in 2000. Driving the increase was arrivals
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