The Gross Domestic Product (GDP) of Cyprus during 2007 reached EUR 15.59 bln based on current prices compared to EUR 14.43 bln in 2006 according to revised estimates by the Statistical Service of Cyprus. At constant prices (of 2000) GDP for 2007 is revised to EUR 12.59 bln from EUR 12.06 bln in 2006. The
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Japanese shoppers are snapping up imported bargains as supermarkets offer enticing discounts, inspired by the sudden rise of the yen in the past few weeks. The Japanese currency has soared to 13-year highs against the dollar and six-year peaks against the euro, sparking a flood of red ink among Japan's exporters, but domestic retailers are
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(Reuters) The United Nations hopes to include a market-based scheme aimed at using carbon credits to save rainforests as part of a broader pact to fight climate change. Called REDD, or reduced emissions from deforestation and degradation, the scheme won backing at last year's U.N.-led climate talks in Bali and trial schemes are now being
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The International Monetary Fund, the European Union and World Bank on Tuesday agreed to a $25.1 billion economic rescue package for Hungary to bolster confidence in its economy hit by the global financial crisis. The IMF said in a statement it had reached an agreement with Hungary for a $15.7 billion loan program (12.5 billion
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(Reuters) The next U.S. president, whether it is Democrat Barack Obama or Republican John McCain, will face a full plate of foreign policy challenges. Here are some of the top issues: WAR ON TERRORISM AND AL QAEDA Al Qaeda militants who have gained strength in the tribal region of Pakistan are an increasing U.S. concern.
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European stock index futures rose sharply on Wednesday, after U.S. and Asian stocks soared and investors bet on a U.S. rate cut later in the day. At 0707 GMT, futures for the DJ Euro Stoxx 50 and for France's CAC added about 5 percent, and for Germany's DAX gained 3.4 percent. Wall Street marked its
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The Bank of Japan will consider cutting interest rates for the first time in seven years this week when it assesses the impact of a global financial storm on Japan's brittle economy, a source with knowledge of the matter said on Wednesday. The BOJ, which declined to join the U.S. Federal Reserve and other central
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– Most Asian stock markets and government bonds rose on Wednesday, on hopes the Bank of Japan and the Federal Reserve will cut interest rates this week in a bid to spur economic growth, while credit markets showed further signs of recovery. Major European share markets were expected to open as much as 5 percent
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International activists including a peace laureate sailed from Cyprus on Tuesday to break Israel's naval blockade on the Gaza Strip, defying Israeli authorities who said they would block them. Twenty seven people from 13 countries sailed from Larnaca, pledging to reach the shores of the Palestinian territory by Wednesday with a tonne of medical supplies.
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World stocks rose sharply on Tuesday and Wall Street looked set for solid gains as investors indulged in a burst of bargain hunting after five straight global trading sessions of steep losses. The dollar and yen fell, also a reversal of recent trends. MSCI's all-country world stock index was up more than 2 percent, but
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