A Federal Reserve official said on Tuesday that while the U.S. economy is clearly rebounding, it is too soon to begin to withdraw the Federal Reserve's massive support. "I see nothing that conflicts with the widely held opinion that we are in recovery," Kansas City Fed President Thomas Hoenig said at an economic conference. "I
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Asian shares pushed up for a second day on Wednesday, with Taiwan's benchmark index nearing a 16-month high, as growing confidence in a strengthening global recovery boosted resource and financial companies. European shares, however, were set for a sluggish start, with futures on the Euro Stoxx 50 index little changed in early trade. Gold trimmed
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Deflation in Cyprus deepened in September, as the consumer price index fell by 1.23% compared with the same month of 2008, having fallen by 0.99% in August and 0.80% in July. Compared with the previous month, however, prices leapt by 1% as the summer sales came to an end. The Statistical Service said that the
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Unemployment rose in Cyprus by 70.7% over the year earlier in September, the highest increase recorded so far this year. According to the Statistical Service, the number of people registered at the District Labour Offices on the last day of September 2009, reached 17,618, compared with 10,319 in September 2008. The increase came mainly from
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Oil prices rose more than $1 to above $71 per barrel on Tuesday, helped by a fall in the U.S. dollar after a report Gulf Arab states were in talks to replace the greenback with a basket of currencies in oil trading. The report was swiftly denied by senior officials from leading oil producers Saudi
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European shares were sharply higher by midday on Tuesday with the heavyweight banking sector boosted by an upgrade from BofA Merrill Lynch. At 1057 GMT the FTSEurofirst 300 was up 1.4 percent at 984.69 points. The European benchmark index is up more than 52 percent from its lifetime low on March 9, as investors have
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The European Commission is expected to detail punitive measures against bailed-out Lloyds and Royal Bank of Scotland this month, as the banks press for a quick resolution, sources familiar with the matter said. The Commission and the British Treasury — acting on behalf of banks it owns large stakes in — have been negotiating for
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Britain's top share index was up 1.6 percent at midday on Tuesday, driven by gains from miners and energy stocks buoyed by firmer commodity prices, and with banks on the rise helped by a broker strategy upgrade. At 1118 GMT, the FTSE 100 was up 79.58 points at 5,103.91, after closing 0.7 percent higher on
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Minister of Health Christos Patsalides, speaking at the Annual General Assembly of the Regional Committee of the World Health Organisation (WHO), expressed certainty that the relations of Cyprus with the countries of the Eastern Mediterranean, would be enhanced even more in the near future. Patsalides is participating in the Assembly in Morocco as an observer
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Russian Foreign Minister Sergei Lavrov has ruled out any notion of recognising a state in Cyprus' northern Turkish occupied areas, in exchange of the recognition by Turkey of Abkhazia, which has seceded from Georgia. “Russia does not bargain the recognition of ‘Northern Cyprus’ from Moscow, in exchange of the recognition of Abkhazia from Ankara,” Lavrov
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