Improving global manufacturing data lifted Asian shares on Tuesday near levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors pondered how much longer a heady three-month rally will last. Reports on Monday showed easing contractions in manufacturing activity in the United States, the euro zone and Britain
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Economic factors to watch as Iran votes on whether to give President Mahmoud Ahmadinejad a second term on June 12 INFLATION Peaked at nearly 30 percent in October 2008 from about 11 percent when Ahmadinejad took power in 2005. Critics blame expansionary fiscal and monetary policies, but he points to global food and energy price
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By Fredrik Dahl and Hashem Kalantari In a way, Iranian restaurateur Mohsen Misaqi notes, President Mahmoud Ahmadinejad has fulfilled the promise to put oil wealth on the table of every family that swept him to power four years ago. "There is more money," said the middle-aged businessman in downtown Tehran. "But with much less buying
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Will help improve workers’ incomes, well-being Overhauling the U.S. healthcare system to contain soaring costs and expand medical coverage to the uninsured would help boost U.S. economic output, lower budget deficits and raise workers' incomes, a White House report said on Tuesday. A report by the White House Council of Economic Advisers said healthcare spending,
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Global consumer confidence is stabilizing after falling for 18 months, providing a glimmer of hope for a shattered world economy in which three quarters of households cut spending, a survey showed on Tuesday. Some 40 percent of consumers blame the banking and finance industry for the worst economic downturn since the Great Depression, while 19
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General Motors Corp filed for bankruptcy on Monday as the Obama administration took the first steps to try to revive a failed icon of American industry by extending unprecedented federal funding and oversight. The bankruptcy filing was the third-largest in U.S. history and the largest ever in U.S. manufacturing. The decision to push GM into
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Australia's central bank kept interest rates unchanged on Tuesday after data showed improvements in the country's export and housing sectors, further fuelling hopes for a global economic recovery that have driven stock markets to seven month highs. Signs that massive stimulus efforts by policymakers around the world are starting to have some impact will be
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The number of tourists arriving at Greek airports fell 7.3 percent in the first four months of the year as the global financial crisis hit the country's key tourism sector, an industry body said on Monday. Greece's Touristic Research Institute (ITEP) said the data were better than expected, but some destinations such as the Aegean
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EU Commissioner for Health Androulla Vassiliou has urged Cypriot citizens to cast their vote in the European Parliament elections, which will take place here Saturday. “We all have to go to the polling stations and elect the candidates we believe will represent Cyprus properly at the European Parliament”, Vassiliou said, addressing Monday evening an open
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The opening ceremony of the XIII Games of Small States of Europe (GSSE) was held at the GSP Stadium in Nicosia on Monday, bringing together the Olympic spirit and the culture of Cyprus. The event gave a full picture of the diachronic course of Cypriot creation and achievement, and at the same time sent the
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