Global stocks headed towards a sixth consecutive session of gains on Friday, although European shares were weak, as investors took some comfort from government moves to stimulate a deteriorating world economy. The dollar was weaker. Demand for U.S. Treasuries and euro zone government bonds rose as concerns remained about the global economic decline. Oil fell
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Eurobank EFG plans to expand its network of “wholesale” banking units in Cyprus to six from the current three, offering the full range of corporate, private and investment banking as well as asset management services, said Michalis Kolakides, Deputy CEO of the Group. Kolakides was in Cyprus on the occasion of the opening of the
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Japanese industrial production dropped sharply in October, and manufacturers warned of record falls in coming months, prompting warnings that growing global gloom means Japan's recession will be even deeper and longer. The bleak news on Japanese factory output may point to a longer and deeper global recession, with the euro zone and U.S. economies also
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Indian commandos traded fire with Islamist militants as the endgame neared at a luxury hotel and a Jewish centre in Mumbai on Friday, but the gunmen were thought to be still holding a handful of foreign hostages, officials said. The head of one commando unit flushing out militants at the luxury Taj Mahal hotel said
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Asian stocks rose for a sixth consecutive day on Friday, led by commodity-related shares in Hong Kong and Australia as bargain-hunting investors hoped policy changes would eventually drive up demand for raw materials. Still, global equity markets were set for a record sixth consecutive losing month, with sentiment hurt by weakening economies in China and
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The significant deterioration observed in the conditions prevailing in the international financial environment had a negative impact on the results of the Hellenic Bank Group and as a result net after tax in the first nine months of 2008 fell 44% Year-on-Year to EUR 58.60 mln from EUR 103.91 mln in the same period in
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The consolidated net profit attributable to shareholders of the Marfin Popular Bank Group reached EUR 323.3 mln flat compared to the first nine months of 2007. The enhanced profitability of the Group in the first nine months of 2008 has resulted in a return on assets ratio (RoA) of 1.28% and a return on tangible
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Global stocks hit two-week highs on Thursday with European equities playing catch up to strong gains overseas, but more grim economic reports briefly sent government bond yields in Europe to a fresh three-year low. Trading though is seen lackluster with Wall Street staying shut for the Thanksgiving Day holiday. Renewed expectations that Washington will bail
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Euro zone economic sentiment hit 15-year lows in November and inflation expectations among companies and households fell off a cliff, boosting expectations of a bigger than half-point rate cut by the ECB next week. A monthly European Commission survey showed that growing pessimism in industry and services pulled euro zone economic sentiment down to 74.9
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Downbeat results and gloomy outlooks at leading British retailers DSG and Kingfisher underlined the severity of the economic slowdown on Thursday, as Woolworths collapsed into administration. Britain's retailers are struggling with intense competition and a downturn in consumer spending, amid sliding house prices, rising unemployment and fears the country has already entered recession. DSG International
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