Oil firmed towards $72 a barrel on Friday, gaining for a third day, supported by views on equity markets that the economy may be stabilising and due to geopolitical concerns over key oil producers Iran and Nigeria. U.S. crude rose 49 cents to $71.86 a barrel by 1358 GMT, having topped $72 earlier. London Brent
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European Union leaders agreed more steps on Friday to avert a repeat of the banking crisis that has sapped the world economy and the IMF said 2010 might deliver stronger growth than earlier forecast. The EU leaders backed the creation of a European system of financial supervisors, but gave them only limited powers. The agreement,
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Financial markets, already looking shaky after a two-month green shoots rally stalled this month, face further hurdles next week with the release of leading economic data and a U.S. monetary policy decision. World stocks, which are on track for the first weekly loss in five weeks, have been trading sideways after rising 40 percent since
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European Union leaders agreed on Friday to back the creation of a European system of financial supervisors to help prevent any new economic crisis, but gave them only limited powers. The leaders also outlined proposals intended to win approval for the EU's Lisbon treaty in Ireland, one of three countries yet to ratify reforms needed
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Egypt has asked the African Development Bank (AfDB) for a budgetary support loan to offset the impact of the global economic crisis, a senior bank official said on Friday. "We are in discussions over a budget support loan with the Government of Egypt to address the impact of the financial crisis and to support the
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By Natsuko Waki Financial markets, already looking shaky after a two-month green shoots rally stalled this month, face further hurdles next week with the release of leading economic data and a U.S. monetary policy decision. World stocks, which are on track for the first weekly loss in five weeks, have been trading sideways after rising
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President of the Republic of Cyprus Demetris Christofias said that the initiatives the government has been taking over the past years have significantly raised Cyprus' performance in the European Innovation Scoreboard for 2008, noting that Cyprus, along with Finland, Ireland and Bulgaria, has recorded the highest progress among the EU member states. He added that
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A group of specialists is carrying out a series of thermal and atmospheric pollution measurements at the Presidential Palace in Nicosia, to determine the potential of transforming the central administrative building of the Republic of Cyprus into a model environment-friendly state building, with zero energy liability and zero emissions. The tests are being carried out
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The EU Info Point located at the northern part of Nicosia is opening its doors to the public. The Info Point project has a budget of EUR1.3 mln, financed by the Financial Aid Programme and aims to bring the Turkish Cypriot community closer to the European Union (EU), through information on the European Union's political
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European shares were higher on Friday at midday, led by gains in banks and commodity stocks, as "triple witching" started to take place. By 1031 GMT, the pan-European FTSEurofirst 300 index of top shares was up 1.3 percent at 861.70 points. The European benchmark index is up 33 percent from the lifetime low hit on
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