Oil prices fell on Wednesday to their lowest level in 13 months, dragged down by expectations that economic weakness will cut further into demand for crude. U.S crude fell to $75.62 a barrel, the lowest price since September last year. By 1144 it had pared the loss and was trading $2.67 lower at $75.96. London
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Denmark is paying a political and economic price for being outside the euro zone during the global financial crisis, Prime Minister Anders Fogh Rasmussen said on Wednesday. Speaking before a European Union summit in Brussels, he reaffirmed his intention to hold a referendum during the current parliamentary term, which runs until 2011, on joining the
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A new meeting of the political party leaders in Cyprus will be held on Friday, 17 October, the Slovak Embassy announced here Wednesday. In a statement, it said the “dialogue between the political party leaders in Cyprus” will be held at 0830 at Ledra Palace in Nicosia and that a delegation from the European Parliament
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A seminar, entitled “Integrating transport in a reunified Cyprus”, opened here today and provided a forum for an exchange of views among experts from the Greek Cypriot and the Turkish Cypriot communities, the government, scientists and technocrats. The seminar, organised by the Reconstruction and Resettlement Council, under the auspices of the President of the Republic,
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Cyprus and Switzerland signed a contract to co-fund a project to renovate a building in the UN controlled buffer zone, in Arab Ahmed area, opposite Ledra Palace in Nicosia. The project is expected to contribute towards promoting bicommunal contact and revitalising the buffer zone and the surrounding area. The contract for the building, which will
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Apple Inc on Tuesday cut the price on its entry-level notebook computer to $999 and introduced a line of aluminum-clad machines starting at $1,299 in moves catering to budget-minded buyers at a time when recession fears loom over the global economy. But shares of Apple, which have risen about 20 percent since the company last
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Signs of renewed risk aversion surfaced on Wednesday with stocks pressured and gold rising as investors fret the global economy will not escape a recession even after bank bailouts, which have taken the edge off money market stress. Oil prices held near a one-year trough below $80 set on Friday, while the yen and government
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U.S. private equity giant Blackstone Group said on Wednesday that it still aims to complete a pair of property deals in Shanghai, although a company official said valuations in China need to come down and regulations should be friendlier to foreign investors. "The challenge is that pricing is inflated generally beyond expectations of international investors,
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European leaders will push on Wednesday for an overhaul of global financial structures after Asia joined western bastions of capitalism in bailing out banks to avert financial meltdown and tackle looming recession. EU leaders meet in Brussels after commiting 2.2 trillion euros ($3.02 trillion) to rescue European banks and break a logjam in money markets
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Oil prices fell around a dollar on Wednesday, dragged lower by expectations economic weakness will cut further into demand for crude. U.S crude fell more than $1 to $77.45 a barrel and was trading 61 cents lower at $78.02 by 0926 GMT. London Brent crude dropped by 59 cents to $73.94. Stock markets also fell
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