U.S. and Europe Union leaders agreed on Thursday to meet at the weekend to prepare for a global summit to overhaul the world's financial system, while fears of global recession continued to rattle markets. Central banks renewed efforts to free up liquidity and unblock frozen lending, with further action from Switzerland, Britain and the European
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By Ellen Wulfhorst (Reuters) Busy Wall Street worker Michael Pento used to relax on weekends playing with his 4-year-old son. Now he just laughs wryly at the thought of free time. The hedge fund market strategist is one of countless people for whom the global financial crisis has brought the demise of the relaxing weekend
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By Teis Hald Jensen (Reuters) In times like these, no one is immune to depression. But surveys show the Danes are the happiest people in the world, and a core factor is a quality in global short supply — trust. From Erasmus University's World Database of Happiness to a World Values Survey from the University
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China Premier Wen Jiabao pledged to help Pakistan overcome its economic troubles, Chinese state media reported on Thursday, though details of the assistance were not disclosed. Pakistani President Asif Ali Zardari was expected to seek $500 million or more in soft loans from its neighbour as it struggles to come to grips with a financial
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The first phase of activities for the infrastructure and urban upgrading in Kampyli village in the Turkish occupied areas of Cyprus has been completed, focusing on the modernisation of the water system of the village, ensuing improved living conditions for its residents. According to a UNDP Partnership for the Future Programme, under the EU-funded Aid
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The number of infections caused by fake antiviruses continues to increase rapidly because the current economic crisis is forcing cyber-crooks to become more ingenious. The creators of these programs only have one aim: to profit financially from their creations and they are achieving this, according to Panda Security. According to recent data from PandaLabs more
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The Turkish banking system is continuing to exhibit healthy profitability and mostly solid asset quality on the back of a growing though slowing economy, Moody's Investors Service said in its new Banking System Outlook for Turkey. However, Turkey's vulnerability to global financial market shocks and weakening economic conditions could have an adverse impact on domestic
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The fundamental credit outlook for the Dutch insurance industry is negative, reflecting the absence of growth opportunities in the non-life segment, uncertainties surrounding the health segment and the negative prospects for the life insurance market, Moody's Investors Service said in a new Industry Outlook. The outlook also reflects the pressures on profitability in all the
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Pupils at the Panayia Tricherousa elementary school of Limassol will host a visit by EU Commissioner for Agriculture and Rural Development Mariann Fischer Boel and Commissioner for Health Androulla Vassiliou on Friday morning to promote the newly expanded European School Milk Programme and launch an EU-wide school milk promotion campaign and a photo competition for
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Ericsson has been selected by the Turkish Cypriot operator, Kuzey Kibris Turkcell, a subsidiary of Turkcell, as the sole supplier of a WCDMA/HSPA high-speed mobile broadband network. The move includes services for mobile internet, video calls and other advanced multimedia services, similar to the network Ericsson has already supplied to Cyta, the state-owned telecom company
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