* Euro, stocks rise, markets still pricing in default * Trichet cautious on French plan * The Greek parliament was set to approve detailed austerity and privatisation bills on Thursday to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk. The euro and global stocks rose after Wednesday's first vote to
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The sovereign debt crisis observed in the euro area is a manifestation of a deeper problem reflecting the shortcomings in the economic governance and crisis resolution framework in the euro area, ECB Governing Council member Athanassios Orphanides said Wednesday. Speaking at the annual meeting of the Cyprus Institute of Internal Auditors, the Cyprus central bank
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Cyprus ranks first among the EU and OSCE member states as regards expenditure in the education sector, President Demetris Christofias said at the graduation ceremony of the University of Cyprus, adding that state expenditure in public education reaches 7.5% of GDP. In his speech, the Rector of the University of Cyprus, Professor Constantinos Christofides, noted
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The Cyprus government has described as “at least unfortunate” a statement by the British Minister of State responsible for Europe, who compared the usurpation of Turkish occupied Greek Cypriot properties with delays in issuing title deeds to British nationals who buy property in the government controlled areas. Lidington suggested at a press conference on Tuesday
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* Paying the price for the ratings downgrades * Cyprus sold 714.57 mln euros in two-year debt on Wednesday, paying domestic lenders 293 basis points more than a sale of bonds of similar maturity 18 months ago as financing costs surge in the euro zone periphery. Wednesday's auction for up to 700 mln euros to
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Bund prices fell and short-dated Greek debt rallied on Wednesday as Athens won parliamentary approval for a crucial package of austerity measures, reducing the risk of short-term default. But persistent medium-term solvency concerns limited the relief and were expected to cap gains in coming sessions, even if parliament votes on Thursday in favour of legislation
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Hewlett-Packard Co , the world's No.1 PC maker, is investing heavily in China and plans to develop cloud-computing products here to sell globally, Chief Executive Leo Apotheker said. This week, HP opened a cloud computing centre in the port city of Tianjin, announced a server computer networking and development center in Beijing and said its
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Britain's top share index gained sharply on Wednesday as Greece lawmakers backed an austerity plan to pave the way for bailout aid, with financials and commodity stocks leading the gainers. The plan for Greece, demanded by the EU and the IMF, includes 28.35 bln euros ($40.2 bln) of fiscal measures. "General sentiment has improved for
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President Barack Obama called on Wednesday for new stimulus measures to boost the struggling economy, an effort that is likely to further complicate talks to bring the country's debt under control. Obama said Congress should approve loans to encourage construction spending and extend tax breaks that benefit middle-income families to bring down the 9.1% unemployment
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Swiss drugmaker Roche Holding argued for more time to study the effect of its Avastin medicine for breast cancer as U.S. health advisers prepared to vote on the fate of the treatment. The U.S. Food and Drug Administration was due to wrap up a rare two-day hearing on Avastin later on Wednesday after hearing tearful
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