Finance Ministers from Commonwealth countries will meet in the southern coastal town of Limassol, between 30 September to 2 October 2009 to share and learn from their experiences in responding to the global economic crisis. According to a press release issued by the Commonwealth Secretariat, at the Commonwealth Finance Ministers Meeting (CFMM), Ministers will review
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The web check-in service of Cyprus Airways, introduced at local airports, is being extended to European airports, a Cyprus Airways press release said here Thursday. Every Cyprus Airways passenger can choose, from the comfort of his home, instead of opting to wait in line at the airport, to check in and print the boarding pass
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Sterling's fall against major currencies is helping a much-needed rebalancing of the British economy towards exports, Bank of England Governor Mervyn King said in an interview published on Thursday. King's remarks pushed sterling to a five-month low against the euro, coming as they did after its slide last week — though he has previously made
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World stocks slipped from the previous day's 11-month high on Thursday as falling oil prices and caution ahead of the Group of 20 summit prompted investors to cut back on risky assets. Sterling fell sharply, hitting a five-month low against the euro, after Bank of England governor Mervyn King said the weaker pound is helping
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The fundamental credit outlook for the global paper and forest products industry remains negative as weak credit conditions in North America and Europe continue to outweigh slightly better industry conditions for Latin American issuers, Moody's Investors Service said in a new report. "The most important determinants of a company's profitability and creditworthiness are its supply/demand
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The U.S. Federal Reserve is studying the idea of borrowing from money market mutual funds as part of eventual steps to withdraw stimulus, the Financial Times reported on Thursday. The Fed would borrow from the funds via reverse repurchase agreements involving some of the huge portfolio of mortgage-backed securities and U.S. Treasuries that it acquired
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Britain's top share index fell 0.8 percent in early trade on Thursday, tracking losses in the U.S. and Asia overnight, as markets reacted cautiously to positive comments made by the U.S. Federal Reserve. By 0802 GMT, the FTSE 100 was down 39.43 points at 5,099.94, having closed down 0.1 percent at 5,139.37 on Wednesday. The
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World stocks slipped from the previous day's 11-month high on Thursday after oil prices fell and caution grew ahead of the Group of 20 summit meeting, prompting investors to cut back on risky assets. U.S. stocks fell on Wednesday as investors grew worried that the Federal Reserve may be closer to pulling back on extraordinarily
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Britain's economy is showing signs of recovery, but any improvement is likely to be small compared to the sharp drop in output caused by the global financial crisis, Bank of England Governor Mervyn King said in an interview published on Thursday. King's remarks on growth are broadly in line with testimony he gave to British
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The Federal Reserve on Wednesday upgraded its assessment of the U.S. economy, saying growth had returned after a deep recession, while reiterating its promise to hold interest rates very low for a long time. The Fed also said it would slow its purchases of mortgage debt to extend that program's life until the end of
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