Hong Kong stocks hovered briefly at a 2011 high on Friday, with institutional investors expected to keep increasing their exposure based on attractive valuations and demand for materials. The benchmark Hang Seng Index ended up 0.47% at 21,396.07, climbing 2.8% on the week and marking its third consecutive weekly gain. The China Enterprises Index closed
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Euro zone finance ministers told Portugal on Friday that it would have to implement new economic reforms that went beyond those proposed by its outgoing government if it hoped to secure aid from the EU and IMF. Portugal bowed to intense pressure from financial markets and its European partners this week and became the third
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A gunman shot and seriously wounded a provincial manager of Turkey's social security institution in southern Turkey and took several people hostage on Friday, state-run Anatolian news agency reported. It said the attacker had taken several people hostage in the social security offices in the Aegean province of Mugla. Broadcaster CNN Turk said the civil
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Red Bull's Mark Webber continued to set the pace in practice for the Malaysian Grand Prix on Friday, the Australian setting the fastest time in both sessions around a sweltering Sepang circuit. Webber endured a disappointing season-opening race in Melbourne, finishing well behind team mate Sebastian Vettel down in fifth place, but made good on
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Walt Disney Co broke ground on its long-awaited Shanghai Disneyland theme park on Friday, banking on its global brand and fairytale attractions to draw millions of visitors and boost its profits in the region. Mickey and Minnie Mouse, dressed in traditional Chinese garb, took to the stage with Cinderella and Snow White to launch a
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Chairman of the Cyprus Tourism Organisation (CTO) Alecos Orountiotis has expressed his support to cooperation and the great importance Cyprus attributes to the further strengthening of the already close and friendly relations between Cyprus and Russia. Orountiotis, who is participating in the Cypriot delegation, under Minister of Commerce, Industry and Tourism Antonis Paschalides, in the
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Gross final energy consumption from Renewable Energy Sources (RES) in Cyprus reached 4.8% in 2010, a Ministry of Commerce, Industry and Tourism official said, expressing optimism that Cyprus will meet its target set out in its national action plan for 13% share of energy from RES, in the framework of the EU 2020 targets. For
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The dollar fell to a near 15-month low to the euro on Friday amid fears of a U.S. government shutdown, while crude oil rose to a two-and-a-half year high on worries that war in Libya and unrest in the Middle East will disrupt supplies. Higher oil prices also encouraged money to flow out of the
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The Greek government will revise a proposed law on liberalising gambling after ruling party politicians complained it could turn the cash-strapped country into a vast casino, members of parliament said on Thursday. The government last month tabled a draft bill to raise about 700 mln euros from new gaming licences and royalties this year, as
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Greece's Olympic Air cannot rule out the possibility of a merger with Cyprus Airways in the future, the chairman of the Greek airline said on Thursday. The two airlines signed a code sharing deal in March, applying to domestic and international scheduled flights of both carriers. "Will it be a merger, will it be an
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