Asian stocks pushed higher on Friday and were poised to score double-digit gains in July as investors keep pouring funds on bets the region's growth engine will lead the global economy out of recession. South Korea's benchmark KOSPI index hit a one-year high and Japan's Nikkei average rose to a 10-month peak as upbeat corporate
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British Airways has cut operating costs by around 6.6 percent since last October as it fights to slim down during the downturn, while its debt-pile also fell slightly to 2.3 billion pounds ($3.79 billion). The carrier, which has been attempting to wring pay and working cuts from its workforce and has even axed meals on
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Economists are split as to whether the Bank of England will extend its asset purchase programme in August, but it may still reach a total of 150 billion pounds, a Reuters poll showed. With British interest rates already at an all-time low of 0.5 percent, the policy debate has focused entirely on its purchases of
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U.S. stocks opened sharply higher on Thursday following a string of stronger-than-expected quarterly corporate profits, a broker upgrade for General Electric Co (GE.N) and fresh signs that the economic slump is waning. The Dow Jones industrial average (.DJI) was up 93.34 points, or 1.03 percent, at 9,164.06. The Standard & Poor's 500 Index (.SPX) was
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MasterCard Inc (MA.N), the world's second-largest credit card network, reported better-then-expected quarterly earnings Thursday as it raised fees and cut expenses, sending its shares up 6.5 percent. Expenses declined 13 percent to $722 million, excluding special items, as the company trimmed advertising and marketing spending by 36 percent and reduced personnel and administrative costs. "It
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The number of U.S. workers filing new claims for unemployment benefits rose slightly more than expected last week, but the number of workers staying on jobless roles fell to the lowest in three months, government data showed on Thursday. Initial claims for state unemployment insurance benefits rose 25,000 to a seasonally adjusted 584,000 in the
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The Central Bank of Cyprus has concluded a Memorandum of Understanding with the Guernsey Financial Services Commission (GFSC) and the Polish Financial Supervision Authority for the supervision of credit institutions. The Memorandum of Understanding has been signed on behalf of the GFSC, by its Director General, Nik van Leuven and on behalf of the Polish
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The broad transport, storage and communication sector registered in 2007 an increase of 16,9% on the gross output, at current prices and amounted to c£1.275,9 mn (€2.180,0 mn) in 2007, compared with c£1.091,6 mn (€1.865,1 mn) in 2006. According to the annual report «Transport Statistics» for the year 2008 published by the Statistical Service, the
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Cyprus President Demetris Christofias has expressed concern that there may be delays in the implementation of the agreement reached between him and Turkish Cypriot leader Mehmet Ali Talat concerning the opening of Limnitis crossing point, on the northwest of Cyprus, Christofias’s statements came after his 39th meeting with Talat, in the framework of UN-led direct
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Major European industrial groups reported lower profits on Thursday despite some stabilisation due to cost-cutting and government help, and said they did not expect a quick economic recovery. Updates from engineering, oil, chemical and car groups revealed few signs the economy was improving and executives spoke of tough conditions with little light in sight. At
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