Persistent worries over the world economy, fuelled by tepid U.S. data and a relatively lacklustre start to the earnings season, kept a lid on equity gains on Friday, boosting safe-haven trades like the dollar and yen. Growing jitters over the struggling Greek economy are weighing on the euro zone, with the single currency down almost
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Global oil demand this year will reach the highest level since 2007, with rising consumption led by faster growth in emerging economies in Asia, the International Energy Agency said on Friday. The Paris-based adviser to 28 industrialised economies revised upwards by 10,000 barrels per day (bpd) its expectations for higher global oil demand this year.
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U.S. stock index futures pointed to a mixed open on Wall Street on Friday, with futures for the S&P 500 up 0.02 percent, Dow Jones futures down 0.22 percent and Nasdaq 100 futures down 0.17 percent at 4.40 a.m. EST. After the bell on Thursday, Intel Corp (INTC.O), a Dow component and the world's largest
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Minister of Finance Charilaos Stavrakis said on Thursday that, despite the global financial crisis, Cyprus still has an advantage over Europe concerning the potential growth rate of its economy. He added that the challenge now was to solve the structural and fiscal problems of the Cypriot economy, in order to maintain this ''potential advantage.'' Speaking
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Cypriot track and field athletes, Kyriakos Ioannou and Eleni Artimata, are the top Cypriot sports personalities on the island and APOEL football club was named team of the year for 2009, according to a poll conducted by the Union of Sports Writers. The awards were presented at a special ceremony on Thursday evening by President
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The EU-harmonised consumer price inflation rate reached just 0.2% in 2009, compared with 4.3% in 2008, according to figures from the Statistical Service. This overall result was a mixture declining and rising prices in various categories. The main decline in prices came from housing, water, electricity and gas, which fell by 7.6% and transport prices,
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Arrivals of tourists in Cyprus dropped by 10.9% in 2009, marking their worst performance since 2002, when the September 11th attacks led to a sharp drop in global tourism. Total arrivals reached 2,141,193 compared with 2,403,750 in 2008. In December alone, arrivals fell by 8.2% to 66,201, compared with 72,127 in December 2008. The UK
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Most Asian stocks gave up early gains on Friday as weak U.S. retail sales and a rise in jobless claims made investors wary about the strength of its economic recovery, offsetting better-than-expected earnings from technology bellwether Intel. The weak U.S. economic data boosted Treasuries and provided a lead for government bonds in Japan and South
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The National Council, top advisory body to the President on the handling of the Cyprus problem, convenes on Friday morning under President of the Republic Demetris Christofias, to review the latest developments in the Cyprus problem. The meeting takes place in the light of the conclusion of the first round of UN-led intensive talks between
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Investors moved past concerns about weakening demand from China on Thursday, generally upping their exposure to risk in bets on a global upturn that lifted stocks and the Australian dollar. Corporate earnings remained clearly in focus, however, with Intel results due later in the day and JPMorgan on Friday. Wall Street looked set to open
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