Britain's top share index gained 3.7 percent early on Friday after two days of sharp losses as investors looked to pick up cheap, heavily sold stocks, with banks and commodities leading the recovery. By 0754 GMT the FTSE 100 was up 143.0 points at 4,004.4, after closing 5.4 percent lower on Thursday. The index has
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The Inland Revenue Department announced that total revenue during the period January – September 2008 advanced by 4.1% yoy to EUR 1.5 bln. The marginal improvement is primarily attributed to higher revenue from Special Contribution for Defence, up by 22.6% yoy to EUR 292 mln, most of which is from a 10% tax imposed on
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Financial institutions ran to their lender of last resort for record amounts of cash in the latest week, under extreme pressure from the worst global financial crisis in a generation, Federal Reserve data showed on Thursday. Banks and dealers' overall direct borrowings from the Fed averaged a record $437.53 bln per day in the week
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The United States is already in what could be its longest recession in decades due to the global financial crisis, and with unemployment set to soar, the Federal Reserve will cut interest rates again, a Reuters poll showed. Economists were far more downbeat than five weeks ago, before the collapse of investment bank Lehman Brothers
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Policymakers around the world scrambled for ways to bolster their economies and banks with South Korean and Australian leaders holding emergency meetings in the face of mounting signs of a severe global downturn. Authorities in Seoul met to discuss emergency steps to shore up the country's banks and Australia's Prime Minister held a summit with
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Asian shares gained tentatively on Friday, recovering some of the steep losses in the prior session, after encouraging earnings signals from technology firms such as IBM eased some of the concerns over a global recession. A strong day in Wall Street on Thursday, with the Dow Jones industrial average up more than 4 percent, helped
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The European Union and Canada would stand to gain about $27 billion a year by liberalizing bilateral trade further, according to a joint study issued on Thursday on the eve of their annual summit. The study will help guide talks on Friday between Canadian Prime Minister Stephen Harper, French President Nicolas Sarkozy, who holds the
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Democrat Barack Obama holds a 5-point lead over Republican John McCain, with little immediate indication their final public debate did much to sway the U.S. presidential race, a Reuters/C-SPAN/ZOGBY poll showed on Friday. Obama's edge over McCain held steady at 49 percent to 44 percent among likely U.S. voters in the four-day tracking poll, unchanged
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Cyprus has during the last years reached unprecedented levels of financial prosperity, Cyprus Commerce, Industry and Tourism Minister Antonis Paschalides said here today, adding that Cyprus can be proud of being famous as a reliable international business and maritime centre in the eastern part of the EU, serving as a hub for financial and other
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Dollar and the euro London interbank offered rate, or Libor, that banks charge each other for three-month loans fell for a fourth day to 4.50% for dollars and 5.08% for euros after the European Central Bank, Bank of England and Swiss National Bank injected additional funds into the money markets. On Wednesday, 3-month dollar Libor
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