By Susan Fenton British Trade and Investment Minister Mervyn Davies said on Friday he is not worried about a further slide in the pound while saying a weak currency will help drive the British economy out of recession. "When it comes to the state of the pound, obviously now we have a huge exporting opportunity,"
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By Fang Yan and Chang-Ran Kim Still new to the trade, Chinese automakers are revving their engines to take an ambitious path to the premium and lucrative end of the car market as they aim to share the spoils with dominant foreign brands. At the Shanghai auto show next week, indigenous, cut-price makers such as
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Phishing scams have grown up from the unsophisticated swindles of the past in which fake Nigerian princes e-mailed victims, who would get a big windfall if they just provide their bank account number. Even as authorities try to stamp out that con and other e-mail and online scams, scammers are getting more wily and finding
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U.S. companies are concerned that they are not getting a fair chance at contracts linked to China's 4 trillion yuan ($585 billion) stimulus package, a leading U.S. business group said on Friday. For its part, Beijing has strongly criticised the 'Buy American' provisions of the U.S. stimulus package finalised in February, saying it is opposed
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The battered global economy faces a difficult year but will begin a recovery in 2010, the European Central Bank president said on Friday, as hopes that the crisis was past its worst buoyed a broad rally in stock markets. "Confidence today relies equally upon the audacity of our immediate decisions and upon the soundness of
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Asian stocks rose on Friday and the yen slipped, after upbeat results from JPMorgan and Google kept a revival of risk taking alive, with Asian shares outside Japan on track for a sixth week of gains. A jump in Chinese industrial output in March has added to a sense previously instilled by U.S. indicators that
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Turkish Cypriots vote on Sunday in a parliamentary election likely to give a boost to hardliners and complicate the fragile peace process with Greek Cypriots in the divided Mediterranean island. The vote in the self-declared Turkish Republic of Northern Cyprus, the northern half of the island only recognised by Turkey, will take place as pressure
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The number of Americans claiming jobless aid hit a record early in April and groundbreaking for new homes slumped sharply in March, according to data on Thursday that showed the economy still being held back by the recession. However, new claims for jobless aid dropped unexpectedly last week in a potentially brighter sign for employment,
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British Conservative Party's Shadow Minister for Europe, Mark Francois MP, has expressed the view that there is a possibility of an agreement on the Cyprus issue. Francois, who paid recently a three-day working visit to Cyprus, issued a press release in which he states that the Cyprus issue “is clearly a complex issue – if
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“Cheap solar” is a myth The state-owned Electricity Authority of Cyprus is embarking on a nationwide plan to reassess all its properties in order to better utilise them and increase revenue for the power utility. This falls within a general plan to improve earnings by divesting away from the conventional oil-based power production into new
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