Asian stocks fell on Friday, led by a 4 percent drop in Japan's Nikkei, as the global economic slowdown slashed earnings prospects for an array of companies, forcing investors to look to safer government bonds. The grip of the financial crisis has reached far beyond the banking sector, with electronics maker Sony Corp and U.S.
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Incoming EU president the Czech Republic said on Thursday that French plans to beef up the group of countries sharing the euro would divide the union rather than strengthen it. And a senior Czech minister, reacting to speculation in the Czech media triggered by reports of the French plan, said there was no question of
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European stocks rose briefly in late afternoon trade on Thursday, as gains in oil shares and a rally on Wall Street helped to overshadow investors' nagging concerns about a looming recession. At 1506 GMT the pan-European FTSEurofirst 300 index had slipped again, down 0.2 percent at 872.16 in volatile trade. The index had risen to
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Cyprus shares plunged on Thursday, joining the global stock market demise, with the CSE Main/Parallel index closing at 1437.71 points, a loss of 6.14% on the day on total volume of EUR 11 mln. The Thursday plunge took the index to levels not seen since October 2005. Since the start of the year, the CSE
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Taking into account the fact that the Athens Stock Exchange has changed the starting time of its sessions to 10.15 am as well as the operation of the CSE-ASE Common Platform, the CSE Council decided to change its staring time too. As a result, from Friday, October 31, 2008 the trading session will commence at
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Piraeus Bank and Proton Bank said their boards had agreed to cancel a share swap agreement, after Proton said it would take part in a government bank rescue plan. "Piraeus Bank's board announces it has accepted Proton Bank's request … and signed an agreement to cancel the buyout agreement," Piraeus Bank said in a stock
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A five-member delegation under Education and Culture Minister Andreas Demetriou represented Cyprus at the official inauguration of the Large Hadron Collider (LHC) at CERN on 21 October. European Science and Research Commissioner Janez Potocnik was among the dignitaries present in Geneva, Switzerland, for the official inauguration of the Large Hadron Collider (LHC) at CERN on
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By Tim Gaynor (Reuters) If you believe the media hype, there are millions of homes for sale in America and not a buyer in sight. But one person's dead market is another's buying opportunity. In the Phoenix suburbs, a five-bedroom home with a large yard and swimming pool attracted a handful of prospective buyers on
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By Sarah Morris and Sonya Dowsett (Reuters) Israel Barragan and his wife Isabel Navarro are hoping for a good Christmas at their home and kitchenware store Piu e Piu in Madrid, but say even buoyant sales are unlikely to save the three-year-old business. They rely on a 60,000 euro ($79,470) credit line, renewable at the
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The UK Financial Services Authority said on Thursday it planned to make investors disclose holdings of more than 3 percent in companies through contracts for difference (CFD). The FSA said the final draft of the rules on CFD — under which one party agrees to pay another the difference between the current and future price
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