World oil demand will recover at a faster pace than previously expected next year due to a more optimistic economic outlook, the International Energy Agency said on Friday. In a monthly report, the agency, which advises 28 industrialised economies, increased its global oil demand growth estimate for 2010 to 1.42 million barrels per day (bpd),
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Fifteen million European buildings should have eco-friendly renovations over the next decade, with builders and architects re-educated to do the job, a draft EU report says. The European Union should also make mandatory its voluntary goal of cutting energy use, creating about 2 million new jobs, says a draft of the EU's "energy efficiency action
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China's economic recovery is not yet on a solid footing so the country will carry on with its fiscal stimulus for now, Chinese Vice President Xi Jinping said on Friday. Speaking at an economic seminar during a visit to Belgium, Xi forecast that a return to growth across the world would be slow and gradual.
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British factory gate inflation unexpectedly turned positive for the first time in five months, with almost all sectors contributing to the rise, official data showed on Friday. The Office for National Statistics said non seasonally adjsuted output prices rose 0.5 percent on the month in September, taking the annual rate of inflation to 0.4 percent.
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Britain's top share index inched higher on Friday, with strength in heavyweight oils and pharmaceutical stocks just outweighing weakness in miners. At 0823 GMT, the FTSE 100 was up 2.74 points at 5,157.38 after it closed 45.74 points or 0.9 percent higher on Thursday. "It doesn't seem as if there is anyone brave enough to
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The dollar rose on Friday after Federal Reserve Chairman Ben Bernanke indicated U.S. monetary policy could be tightened as a recovery takes hold, sending crude and metal prices lower. World stocks were steady as retreating commodity prices hurt heavyweight miners, offsetting gains in Asia and emerging markets. Shares in emerging markets advanced 0.4 percent, hitting
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The Cyprus Chamber of Commerce and Industry in cooperation with the Turkish Cypriot Chamber of Commerce are implementing a UNDP-ACT funded project entitled “Economic Interdependence” that aims to promote economic interdependence between the Greek-Cypriot and the Turkish-Cypriot communities enabling the two business communities to enhance their business and economical relations. The “Economic Interdependence” project commenced
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The outlook for the European building materials industry remains negative, reflecting the ongoing economic weakness in some markets and continued depressed demand, Moody's Investors Service said in a new report of 11 companies it rates. However, there are signs that the decline in volumes is not getting any worse in mature markets and may even
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European Commission President José Manuel Barroso has appointed Leopold Maurer as his personal Representative to the Good Offices Mission of the United Nations in Cyprus to provide advice on EU-related matters “This designation follows a request by the U.N. and is a further demonstration that President Barroso and the European Commission are committed to supporting
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High joblessness spurs call for tax credits, other steps By Caren Bohan WASHINGTON, (Reuters) – As the U.S. unemployment rate climbs toward 10 percent, President Barack Obama is facing a rising clamor from within his Democratic party to take new steps to lift the economy and jump-start job growth. But soaring budget deficits are likely
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