By Rajkumar Ray and Manoj Kumar India's president said on Thursday that the new government would revive economic growth and help millions of poor with higher spending and expansion of social programmes, despite fears of a growing fiscal gap. Outlining the new Congress-led government's policies after a resounding election win in May, Pratibha Patil said
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By Andrew Stern Laird had hoped to retire comfortably some day from the machinist's job he has held for 30 years, but his western Illinois manufacturing plant is closing and he now fears for his family's economic future. "Everything's up in the air. You've got a paycheck coming in every week, then you don't. It's
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The European Central Bank kept interest rates on hold on Thursday, resisting pressure for more cuts to spur an economy that is showing some signs of emerging from recession. The Bank of England also left its rates unchanged. The U.S. Federal Reserve, which like the Banks of Japan and England has cut rates below the
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The European Union urged Latvia on Thursday to cut public spending further, offering little hope the Baltic country would quickly receive funds to ease a crisis threatening to force a currency devaluation. The lat <EURLVL=> currency recovered some ground after taking a battering in the past week and nerves are still strained over the prospect
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Cypriot and Syrian experts will meet soon to discuss practical measures to prevent illegal immigration to Cyprus. Many illegal immigrants are filtered via Syria to Cyprus’ Turkish occupied areas and subsequently to southern government-controlled areas of the Republic, Foreign Minister Markos Kyprianou has said. Kyprianou said that the issue of the illegal sea routes between
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The Bank of England left interest rates unchanged at a record low of 0.5 percent for the third month running on Thursday, and said it would continue its 125 billion pound asset-buying programme to tackle the recession. "The Committee expects that the announced programme will take another two months to complete," the Bank said in
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The European Central Bank is set to keep interest rates on hold on Thursday, resisting pressure for more cuts to spur an economy that has shown some signs of emerging from recession. The U.S. Federal Reserve, which like the Banks of Japan and England has cut rates below the ECB's one percent, is already looking
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European equities climbed on Thursday ahead of rate decisions from the Bank of England and the European Central bank, with banks and drugmakers gaining ground and oil shares rising on the back of higher crude prices. At 0822 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 872.74 points after
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Britain's top share index rose 0.5 percent in morning trade on Thursday, helped by oil, banking and insurance shares, and as investors eyed the outcome of the Bank of England's monetary policy review later in the session. At 0819 GMT the benchmark FTSE 100 index was up 20.79 points at 4,404.21. The UK bluechip index
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British house prices unexpectedly rose at their fastest monthly rate in 6-1/2 years in May, the Halifax house price survey showed on Thursday, but the mortgage lender cautioned that market conditions remained difficult. The survey showed that house prices rose 2.6 percent in May, the biggest increase October 2002, but were still 13.6 percent down
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