Fuel retailers in Cyprus decided on Monday to go on an indefinite strike as of Tuesday, in a reaction to a maximum price regulation announced earlier in the day. The government issued a decree on Monday setting maximum prices for 95 octane petrol, 98 octane and diesel, which will be in force for eight days.
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The European Commission denied on Monday there was any European Union plan for 20-25 billion euros aid for Greece, and Germany's finance ministry said it had made no decision on aid for Athens. They were reacting to a report in German weekly Der Spiegel on Saturday that Germany's finance ministry had sketched out a plan
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U.S. stock index futures rose on Monday as Schlumberger Ltd agreed to buy Smith International for $11.34 billion in stock and Lowe's Co. posted earnings. * Schlumberger Ltd (SLB.N) agreed to buy Smith International (SII.N) in a $11.34 billion all-stock deal that will boost the oilfield services leader's revenue to double that of its nearest
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World stocks hit 2-1/2 week highs on Monday and oil reached a six-week peak as investors became increasingly confident about the outlook for the U.S. economic recovery. The euro held above last week's 9-week low against the dollar after Der Spiegel reported on Saturday that Germany's finance ministry had prepared a bail-out plan for Greece
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The price index of construction materials reached 11796 (base year 2005=100.00) in January 2010, recording an increase of 0.73% over the previous month. Compared to January 2009, the index recorded an increase of 0.69%. For the whole of 2009, construction materials prices fell by 3.5%, having risen by 9.8% in 2008.
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Asian stocks leapt to their highest in nearly a month on Monday as risk appetite improved on talk of a quick bailout for Greece and as investors looked past the Federal Reserve's discount rate hike to signs of strength in the U.S. economy. The euro edged higher after German magazine Der Spiegel reported at the
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Wall Street could keep rallying after notching its best week this year if Federal Reserve Chairman Ben Bernanke gives a reassuring assessment of the recovery and retail earnings show improvement. Investors are eager to hear more on the thinking behind the Fed's surprise move to raise its discount rate, especially because the Fed's loose monetary
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The president of the Greek New Democracy Party, Antonis Samaras, is in Cyprus on a two-day official visit, at the invitation of the President of the Democratic Rally party (DISI), Nicos Anastasiades. Samaras, who arrived Sunday night, was met last night at Larnaca airport by Anastasiades and then he attended an official dinner hosted in
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A makeshift assistance should be enough to rescue Greece but bigger problems facing Europe would leave the future of the euro currency in question, billionaire investor George Soros said. Writing in the Financial Times, Soros said what the European Union needed was more intrusive monitoring and institutional arrangements for conditional assistance. He said a well
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Asian stocks rose on Monday as investors looked past the Federal Reserve's discount rate hike to signs of strength in the U.S. economy, while the euro firmed on talk that a quick bailout is being sketched out for debt-stricken Greece. A pause in the dollar's rally spurred gold to its highest level in a month,
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