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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Britain's top share index extended gains by midday on Friday, climbing 1.9 percent, after index futures expired across markets while rallying oil prices lifted energy majors. By 1100 GMT the FTSE 100 was up 80.08 points at 4,360.94 points and on track to post its biggest daily percentage gain since June 1 after crossing into
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Oil rose 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 56 cents to $71.93 a barrel by 0954 GMT. London Brent crude gained 60 cents
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U.S. stock index futures pointed to a higher open on Wall Street on Friday, as stocks were poised to add to the previous session's gains. At 0900 GMT, futures for the S&P 500 were up 0.2 percent, Dow Jones futures were up 0.4 percent and Nasdaq 100 futures were up 0.4 percent. BlackBerry smartphone maker
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Equity markets and high yielding currencies gained on Friday while bonds and the dollar fell, as U.S. jobs and factory data the previous session rekindled hopes that the global economy may be recovering from recession. The sharp equity market rally which began in early March began to stall at the start of the week as
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