Resource stocks lifted Asian shares off three-month lows on Tuesday after strong U.S. manufacturing data raised hopes the global economic recovery was on a firmer footing. But the Australian dollar sank, pulling down the euro, after the country's central bank left interest rates unchanged in a move that stunned markets and underscored investor nervousness about
More
The direction of credit conditions in the Argentine banking system is stable, Moody's Investors Service concluded in its yearly report on the industry. The stable outlook incorporates the rating agency's expectations that banks' financial fundamentals will remain largely adequate, despite the many challenges of the domestic operating environment. The system's resilience and its ability so
More
Asian shares rebounded on Tuesday, led by resources stocks, after strong U.S. manufacturing data raised hopes the global economic recovery was on a firmer footing as governments move to withdraw stimulus spending. Japan's Nikkei stock average rose 1.88 percent while resources firms such as Australian miners were among the best performers in the region, bouyed
More
White House adviser Paul Volcker will urge Congress to curb the risks taken by large banks to help prevent them from being treated as "too big to fail," according to testimony obtained by Reuters. Detailing a recent proposal known as "the Volcker rule," the former Federal Reserve Chairman will tell lawmakers that commercial banks' proprietary
More
Water cuts are lifted in Cyprus as of February 2, Agriculture, Natural Resources and Environment Minister Michalis Polinikis announced here today. Speaking at a press conference, following a meeting with his aides, he said that it has also been decided to supply farmers with water for irrigation purposes, so that they do not lose more
More
On the basis of the results of the Passengers’ Survey, the number of residents of Cyprus returning from a trip abroad rose by 2.1% to 89,287 compared with 87,441 in the corresponding month of 2008. In December 2009 there was an increase of 1.1% in the trips of residents to Greece (from 33,092 in December
More
The number of building permits authorised by the municipal authorities and the district administration offices during November 2009 fell by 8.6% over the same month of 2008 to 771, according to the Statistical Service. The total value of these permits fell by 28% to EUR 216.5 mln and the total area fell by 29.6% to
More
Greece will see more tourists this year but revenues from this major sector of its ailing economy will continue to fall, a tourism research body said on Monday. About one in five Greeks works in tourism which accounts for about 20 percent of Greece's 250-billion-euro ($351 billion) economy, making it critical for Greece's efforts to
More
The United Nations recognise the Republic of Cyprus, UN Secretary General's Special Adviser on Cyprus Alexander Downer stressed here today. He also pointed out that the venue of a meeting, earlier today between UN Secretary General Ban Ki – moon and Turkish Cypriot leader Mehmet Ali Talat, has no political significance. Speaking after Ban Ki-moon's
More
President Barack Obama on Monday projected the U.S. budget deficit would soar to a fresh record in 2010, challenging his push for fiscal responsibility while driving to defeat double-digit unemployment. Dubbed an old-style liberal tax-and-spender by his Republican opponents, Obama is under pressure to convince investors and big creditors like China that he has a
More