Singapore Airlines will replace engines on three of its Airbus A380 planes after finding oil stains on them, almost a week after Australian rival Qantas grounded its A380 fleet due to an engine failure. Qantas's six A380s have been grounded since Thursday, when a Rolls-Royce engine partly disintegrated mid-flight, forcing the fully laden Airbus to

British Prime Minister David Cameron urged China on Wednesday to move towards greater flexibility in its exchange rate, saying it was vital for the future growth of the recovering world economy. "China is already talking about moving towards increased domestic consumption, better healthcare and welfare, more consumer goods as its middle class grows, and in

Russia and South Korea on Wednesday gave a positive assessment of the G20's actions to overcome the global financial crisis, but said more needed to be done on regulatory reform and protectionism. "The two countries agreed that the G20 should do more fiscal balancing, financial regulation reform and preventing trade protectionism," said a statement issued

The financial results for the nine months of 2010 highlight that the Bank of Cyprus is in a strong position to face the continuing challenges in its main markets having achieved selected business growth, increasing recurring profitability and strengthening further its balance sheet, in line with the 2010 business and financial targets. The Group’s net

Gold hit record highs for a fourth day in a row on Tuesday, as fresh concern over the debt burdens of several euro zone member countries prompted safe-haven buying, while palladium rallied for a fifth day. Silver touched $28.90 an ounce, the highest since March 1980, palladium saw $732.50 an ounce, its highest since April

European shares hit a two-year high on Tuesday, with several companies including Vodafone and Barclays gaining after upbeat profit statements, and with the macroeconomic backdrop boosting sentiment. At 0947 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,115.53 points, after reaching 1,116.19, the highest since September 2008. The European

The European Commission expects Turkey to contribute in a positive manner to efforts to solve the Cyprus problem, Angela Filote, spokesperson of EU Commissioner on Enlargement, has said. Filote also said that the EU does not confirm Turkish press report about an initiative by the European Commissioner on Enlargement Stephan Fule to unblock negotiating chapters

China warned on Tuesday that U.S. easy money could destablise the global economy and inflate asset bubbles, keeping up the pressure on Washington just two days before the start of a G20 leaders summit. The U.S. Federal Reserve's new $600 billion bond-buying programme has drawn global scorn because of concerns it will send a flood

The euro extended its losses on Tuesday on renewed concerns about high sovereign debt in the euro zone, providing further respite for the dollar and prompting some profit-taking in stocks. European shares were flat at the open, subdued by losses on Wall Street and Asia as investors focused on a batch of European corporate results

The president of the World Bank has made a bold call on leading global economies to consider readopting a modified gold standard to guide currency movements, but the proposal has met with a wall of scepticism. Writing in the Financial Times, Robert Zoellick said a "Bretton Woods II" system of floating currencies was needed to