China has witnessed a sharp increase in labour arbitration cases in its southern export hub of Guangdong as exports shrink and jobs disappear, state media said on Thursday. More than 60,000 applications for arbitration had been made in provincial capital Guangzhou this year, around the same number for the previous two years combined, the China
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Asian shares gained on Thursday as aggressive rate cuts and government actions to revive economic growth improved confidence, but plenty of other worrisome signals remained, supporting government bonds. Oil extended the prior day's rally on signs Saudi Arabia had slashed supplies to customers, while the U.S. dollar, which had recently attracted strong demand due to
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The House of Representatives approved bailout legislation on Wednesday that would force U.S. automakers to restructure or fail, sending the measure to the Senate where prospects for passage appeared grim. "Gonna be tough, but haven't lost all hope," one Democratic aide said of chances in the Senate, which could vote as early as Thursday on
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Gross Domestic Product in Cyprus grew by 3.5% in the third quarter of 2008, by comparison to the corresponding period of last year, according to estimates by CyStat, the Cyprus Statistical Service. According to a press release issued here today by CyStat, the deceleration of the GDP growth rate is mainly attributed to a slowdown
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Cyprus ranks 22nd in Mathematics and 33rd in Science among school pupils from 60 countries around the world. According to a 2007 research carried out by TIMSS (Trends in International Mathematics and Science Study), Cyprus has the same performances in Mathematics like Malaysia, Norway, Bulgaria, Israel, the Ukraine and Romania. The school pupils of Cyprus
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China's exports and imports shrank unexpectedly in November as the world's fourth-largest economy slowed in a startlingly abrupt way in response to the global credit crunch. The drop in exports from year-ago levels was the largest since April 1999, while the decline in imports was the steepest since monthly records kept by bankers began in
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Trading volumes at major European stock exchanges have surged in volatile markets this year, but this is unlikely to rescue their own shares from huge falls as investors stay nervous about bigger challenges the bourses face. The shares could face more grief as growing competition, the disappearance of a merger premium and technical glitches hit
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Hopes that governments worldwide will help out ailing industries and implement stimulus measures to fight against a deepening economic crisis lifted global stocks on Wednesday while oil gained $2 a barrel. European shares were up 0.2 percent in choppy trade but Japan's Nikkei average rose 3.2 percent to a one-month closing high. This and gains
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Global miner Rio Tinto, saddled with nearly $40 billion in net debt, said it would cut 13 percent of its workforce, slash capital spending and sell more assets as it battles a collapse in commodity prices. Rio, which mines a range of metals and minerals from aluminum and copper to gold and diamonds, has been
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The U.S. economy needs a $900 billion government boost focused on Main Street over the next two years to pull it out of a deep recession, a new report from labor and public interest groups said on Tuesday. "We need a substantial, strategic and sustained plan to get this economy going," said Robert Borosage, co-director
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