Global oil demand will hit a record high this year, the International Energy Agency (IEA) said on Tuesday, revising up consumption estimates as the world economy recovers from recession. The Paris-based adviser to industrialized economies raised its forecast for world oil demand growth this year to 1.67 million barrels per day (bpd), up 100,000 bpd.
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Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.1 to 0.3 percent, pointing to a weaker start on Wall Street on Tuesday. Strong earnings from Intel Corp (INTC.O), whose chips are found in more than three-quarters of the world's PCs, should provide further proof on Tuesday of a
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The world's top cellphone maker Nokia unveiled three new, cheaper messaging phone models on Tuesday, challenging the dominance of RIM's Blackberry in the mobile e-mail market. The new C3 model — with a full keyboard and priced at just 90 euros ($122) excluding taxes and subsidies — is likely to be one of the key
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Apple Inc has accepted distribution of Opera Software's Internet browser for its iPhone after a long review, opening a new and potentially lucrative market it has so far closely guarded. There are numerous versions of Apple's own browser on App Store, but Norway-based Opera is the first rival to get access to iPhone. Shares in
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Top cellphone makers are set to report accelerating market growth and booming demand for new smartphones when they unveil March quarter earnings starting this week. Cellphone vendors experienced a grim 2009 as recession capped consumer spending on new phones but the smartphone market continued to grow through the downturn, helped by attractive new designs and
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European shares fell on Tuesday, ahead of key U.S. earnings news, with banking stocks under pressure and commodities lower as crude and gold prices slipped. Luxury good retailers, however, gained. By 0822 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.2 percent at 1,099.69 points. The index is up around 70 percent
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Tourism arrivals to the east Mediterranean island Cyprus rose by 5.6 percent from January to March year on year, the statistics department said on Tuesday. Visitors to Cyprus totalled 205,006 in the first three months of 2010 compared to 194,127 in the first quarter of 2009, data showed. Last month alone there was a 14.8
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Greece on Tuesday easily sold a total of 1.56 billion euros ($2.12 billion) of 26- and 52-week T-bills, passing its first borrowing test since details of the European/IMF safety net were announced at the weekend. KORNELIUS PURPS, FIXED INCOME STRATEGIST AT UNICREDIT "Demand was sensationally high. Compared with the yields that one might have inferred
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The euro zone's standby aid package for Greece offers only a short-term solution to Athens's debt crisis and leaves many questions about the future of the single currency group and the European Union unanswered. Financial markets welcomed the deal reached on Sunday by the finance ministers of the group of 16 countries that use the
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Asian shares fell on Tuesday ahead of key earnings in the United States while the euro consolidated ahead of a Treasury bill sale by Greece later in the day. The Nikkei fell as much as 1.09 percent, moving further away from 18-month highs hit last week, as the yen strengthened and investors took profits in
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