World stocks climbed on Wednesday in response to a relatively optimistic outlook from the U.S. Federal Reserve combined with a pledge to keep interest rates low. Worries about Greece's debt crisis also eased after rating agency Standard & Poor's removed the threat of an immediate downgrade. MSCI's all-country world stock index was up 0.6 percent
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Oil extended gains to above $82 a barrel on Wednesday, rising to within $2 of this year's high as Saudi Arabia's Oil Minister described prices as "beautiful" and OPEC decided to leave output targets unchanged. Members of the Organization of the Petroleum Exporting Countries, which pumps roughly one in every three barrels of oil, agreed
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The world’s top ranked player has finally met his match. After being challenged seven times since their big clash at the Australian Open final in 2006, No. 1 and three-time former champion Roger Federer went down 5-7, 7-5, 7-6(4) to 33rd ranked Marcos Baghdatis in a thrilling third-round encounter on Tuesday night at Indian Wells
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U.S. housing starts fell last month as winter storms in some parts of the country disrupted home construction, and another drop in building permits pointed to underlying weakness in the near-term. The data on Tuesday was an indication home building would clip economic growth in the first quarter, analysts said. It came as officials from
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On the basis of the results of the Passenger Survey, revenue from tourism reached EUR 33.9 mln in February 2010 compared to EUR 36.3 mln in the corresponding month of the previous year, recording a decrease of 6.4%. For the period January – February 2010 revenue from tourism is estimated to EUR 63.6 mln compared
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On the basis of preliminary estimates for foreign trade in January 2010 total imports/ arrivals reached EUR 441.6 mln, of which EUR 275.2 mln were arrivals from other member states of the EU and EUR 166.4 mln imports from third countries. Total exports/dispatches amounted to EUR 74.0 mln of which EUR 48.4 mln were dispatches
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The Cyprus economy shrank by 1.7% in 2009, according to the latest full figures on the national accounts, despite government efforts to prop up the economy. The main reason for the fall was household consumption, which fell by 3.1% in 2009, having bounded ahead by 8.5% in 2008. Household consumption is by far the largest
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European shares bounced back on Tuesday after slipping in the previous session, with banks advancing ahead of the outcome of the U.S. Federal Reserve's policy meeting later in the session. At 0910 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.7 percent at 1,058.85 points after falling 0.7 percent in the previous
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World stocks climbed on Tuesday while the dollar was corralled as investors bet the U.S. central bank will repeat its vow of keeping interest rates low for an extended period after its monthly meeting. The Federal Reserve is expected to leave benchmark rates near zero given lingering labour market weakness and nagging doubts about the
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There are signs of increasing demand for oil, Saudi Oil Minister Ali al-Naimi said on Tuesday, which could mean OPEC does not have to take any action on supply this year. "We have been sailing very well and we will continue to sail very well," Naimi, minister for the world's top oil producer, told reporters
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