By Martina Fuchs Jackie Prosser is a determined mother. Working in fashion, she says she is highly exposed to the global recession, but plans to cut back on other treats to keep her seven-year old at his fee-paying school. "Pulling my boy out of the school is the last resort," said Prosser, who is head
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Barack Obama took power as the first black U.S. president on Tuesday and quickly turned the page on the Bush years, urging Americans to rally to end the worst economic crisis in generations and repair the U.S. image abroad. "Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of
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Continued signs of trouble in the financial sector and worrisome economic data sent Asian shares to their lowest in more than six weeks on Wednesday , bolstering the dollar and other assets that shine in uncertain times. Sterling continued it slide to a its lowest in more than seven years against the dollar, while the
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Vice-President of the European Investment Bank (EIB) Ploutarchos Sakellaris will pay an official visit to Cyprus January 22 and 23, 2009. During his stay in Cyprus, Sakellaris will hold separate meeting with Finance Minister and other Ministers, during which an evaluation of the progress of the projects funded by the EIB will take place, and
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The Greek Cypriot and Turkish Cypriot political parties participating in the subcommittee meeting of party leaders, meeting regularly at the Ledra Palace, have ''strongly condemned'' the attacks by ''chauvinist groups'' on Turkish Cypriots traveling in their cars in Nicosia on January 17. ''We expect that the responsible persons will be identified and brought to justice.
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European Commission President Jose Manuel Barroso has said that a solution to the Cyprus issue would constitute a “historic, important step” which would be in the interest of Cyprus, Europe and Turkey. Speaking during a press conference with Turkish Prime Minister Recep Tayyip Erdogan, Barroso on Monday, Barroso said that under this context, Turkey’s support
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Italy's Fiat took an initial 35 percent stake in Chrysler, launching a venture designed to secure both carmakers' futures, as France asked its auto industry to commit to output targets in exchange for aid. Chrysler said on Tuesday the deal, which involves no cash investment, was a key component in its survival plan, giving it
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By Ulf Laessing and Rania El Gamal Arab leaders will agree at a summit on Tuesday to launch a $2 billion reconstruction fund but differences persisted over finding a united stance on the Israeli offensive in Gaza. Israel's three-week assault that killed more than 1,300 people has underscored the divide between those allied to Egypt
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Improved German investor sentiment failed to lift equity market gloom on Tuesday as investors fretted about the financial system despite the promise of further multi-billion dollar interventions around the world. German analyst and investor sentiment about Europe's biggest economy improved by more than expected in January. The monthly poll of economic sentiment by the ZEW
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Shares in Lloyds Banking Group and Barclays fell heavily on Tuesday as concern resurfaced they may need state help to repair balance sheets hit by deepening economic gloom, dealers said. Europe's banking index fell to a 14-year low as stocks fell on fears that lenders will need more state help to raise capital as economies
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