Oil headed lower for a ninth straight session on Monday to trade below $70 a barrel, pressured by concerns over weak fuel demand and brimming inventories. The market pared losses after Abu Dhabi bailed out Dubai with $10 billion in surprise aid for Dubai World, which boosted stock markets as risk appetite improved and eased

President Barack Obama may have some tough words for executives of Goldman Sachs, Citigroup and other financial firms when he meets with them on Monday. Obama, who has complained about "fat cat bankers" taking big bonuses, will use the meeting to press the firms to expand their lending to small businesses and to stop trying

The overall public sector balance registered a deficit of 454.6 million euro in the first nine months of 2009 or -2.7% of GDP. According to a press release, issued here today by Cyprus Statistical Service (CyStat), during the first nine months of 2009, total public sector expenditure increased by 9.4%, to 5,515 million euro, as

Cyprus ranks first worldwide as regards the installation of solar systems for hot water and it is the sixth best performer among the 27 EU countries as regards installed capacity of photovoltaic systems per capita, with its total installed capacity reaching 3MW, Minister of Commerce, Industry and Tourism Antonis Paschalides has said. Addressing the 2nd

Operations at the new Larnaka International Airport, which opened barely a month ago, are running smoothly, Minister of Communications and Works Nicos Nicolaides has said. The Minister, who inspected on Monday the airport, had a meeting with the administrator of the new airport terminal, officials from the Department of Civil Aviation and other interested state

Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing $17 billion of stock immediately, as the bank looks to end the executive pay restrictions that came with the funds. The government plans to start selling the roughly $30 billion of Citigroup shares it owns, and is ending its