Until a few years ago, most Brazilians able to hoard cash would rush to buy U.S. dollars to prevent runaway inflation or another economic meltdown from wiping out their hard-earned savings. These days, with the greenback getting trounced around the globe and the Brazilian real soaring, the once almighty dollar is losing its luster in
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The Bank of England said on Thursday it would expand its quantitative easing programme by 25 billion pounds to help kick-start Britain's recession-hit economy. The increase brings the central bank's total asset-buying programme to 200 billion pounds, the equivalent of more than 14 percent of Britain's economic output. The BoE also left interest rates unchanged
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U.S. shares were expected to fall on Thursday, after ending only marginally higher in the previous session, following the Federal Reserve's statement that it was keeping rates close to zero for an "extended period." At 4:23 a.m. EST futures for the Dow Jones, S&P 500 and Nasdaq were down between 0.2 and 0.9 percent. The
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British manufacturing output rose faster than expected in September, and at its fastest monthly pace since July 2002, rebounding from August's sharp drop, official data showed on Thursday. The Office for National Statistics said factory output rose by 1.7 percent in September, almost reversing a 2.0 percent decline in August. September's outcome was much higher
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Microsoft Corp said on Wednesday it is cutting a further 800 jobs across its operations, on top of 5,000 jobs already eliminated under a plan to reduce costs that was announced in January. A spokesman for the world's largest software firm said the latest job cuts are spread across the company's global operations, but about
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The Bank of Cyprus Group’s profit before provisions for the third quarter 2009 reached 190 mn Euro recording an increase of 35% compared to the second quarter 2009. According to the Group’s financial results for the nine months, which ended 30 September 2009, profit after tax for the third quarter 2009 reached 117 mn Euro
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World stocks slid on Thursday following the Federal Reserve's decision to keep interest rates near zero for "an extended period" and ahead of policy decisions by the European Central Bank and Bank of England. The dollar climbed against major currencies, recovering from a post-Fed sell off and as the stock sell-off hit the euro. Investors
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Minister of Finance Charilaos Stavrakis said that according to the European Commission Autumn forecast, during the years 2009 and 2010, the Cypriot economy would have the highest growth rate in the Eurozone and the second highest in the EU27. He also pointed out that in 2009 and 2010 Cyprus is forecast to have the lowest
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European share prices were mostly lower on Thursday ahead of interest rate decisions by the Bank of England and the European Central Bank, with banks and commodity stocks the biggest losers. By 0917 GMT, the pan-European FTSEurofirst 300 index of top shares was down 1.2 percent at 972.82 points. The benchmark index has gained nearly
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The Board of Directors of the Bank of Cyprus Public Company (BOCY) decided to pay an interim dividend of EUR0,08 per share. The record dated is Wednesday, 25 November 2009, i.e. transactions that take place before market close of the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) on 20 November 2009 will be
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