Economic Issues
Italy set for decision on new government
Mar 22, 2013 05:02 EDT
Italy's President Giorgio Napolitano said he will hand out a mandate for the formation of a new government on Friday in a bid to break a deadlock created by elections last month, but the identity of the possible prime minister is still a mystery.
Cyprus MPs study bailout 'Plan B' as meltdown looms
Mar 22, 2013 04:39 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
Cyprus launches banking overhaul as meltdown looms
Mar 21, 2013 23:17 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
IMF urges Iraq to bolster non-oil sector
Mar 21, 2013 18:19 EDT
The IMF forecast Thursday that Iraq's economy would grow around nine percent this year helped by surging oil production, but said Baghdad needs to do more to support private, non-oil business.
Brazil, China to ink deal on trade in national currency
Mar 21, 2013 17:45 EDT
Brazil hopes to sign a bilateral accord with China to promote trade in their national currencies at next week's BRICS summit of the world's five emerging powers, Trade and Industry Minister Fernando Pimentel said Thursday.
Canada hopes economy picks up to balance budget by 2015
Mar 21, 2013 17:38 EDT
Canada's Tory government pegged a return to a balanced budget and its re-election hopes in 2015 on a strong rebound in the economy on Thursday, after being dealt an unexpected slump in recent months.
S&P cuts Cyprus rating as banking meltdown looms
Mar 21, 2013 17:27 EDT
Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.
Italy president to unveil decision on new government Friday
Mar 21, 2013 17:21 EDT
Italian President Giorgio Napolitano said he will announce on Friday his decision on who will be asked to form a government after inconclusive elections in the austerity-stricken country and amid rising tensions in the eurozone.
US stocks drop on Cyprus, weak earnings
Mar 21, 2013 16:54 EDT
US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.
Canada cuts growth forecast
Mar 21, 2013 16:21 EDT
Canada's finance minister unveiled a no-frills budget on Thursday that aims for a return to black in 2015 despite a lower economic growth forecast of 1.6 percent for this year.
Pro-fracking filmmaker accuses IMF of censorship
Mar 21, 2013 14:36 EDT
The maker of a documentary in support of oil and gas fracking accused the International Monetary Fund Thursday of censorship after it declined to show a key clip from his film at a conference.
Overhaul of Cyprus banks on cards as meltdown looms
Mar 21, 2013 14:24 EDT
Cyprus Thursday was examining an overhaul of its banking sector to avoid financial meltdown after the European Central Bank threatened to pull the plug on emergency funding for the island's banks.
Cyprus brinksmanship could spin out of control: analysts
Mar 21, 2013 13:41 EDT
As the EU raised the spectre of a eurozone exit for Cyprus, experts warned on Thursday of the consequences of brinksmanship from Brussels to Moscow in the race to fix new bailout terms.
FTSE 100 shares close lower
Mar 21, 2013 13:18 EDT
London shares closed lower on Thursday as traders looked past positive economic data to focus on bleak eurozone news, notably fallout from the Cyprus bailout impasse.
European stocks retreat on disappointing data, Cyprus
Mar 21, 2013 13:17 EDT
European stock markets slid Thursday as disappointing eurozone data and the Cyprus bailout impasse overshadowed strong Chinese economic performance.
Irish economy grows by 0.9% in 2012: official data
Mar 21, 2013 12:32 EDT
Ireland's bailed-out economy grew by 0.9 percent in 2012 but stagnated in the final quarter of the year, official data for the troubled eurozone nation showed on Thursday.
Spain borrowing costs dip despite Cyprus crisis
Mar 21, 2013 12:23 EDT
Spain's borrowing costs dipped in a bond auction Thursday, easing concerns that a feared banking meltdown in Cyprus could scare investors away from other troubled eurozone states.
Cyprus banks face meltdown as ECB ready to pull plug
Mar 21, 2013 10:42 EDT
The European Central Bank warned Thursday it was ready to pull the plug on emergency funding for Cyprus banks as the island's politicians scrambled to raise billions of euros to head off financial meltdown.
European stocks head lower again
Mar 21, 2013 10:34 EDT
European stock markets slid Thursday as traders looked past strong Chinese economic data to focus on bleak eurozone news, notably fallout from the Cyprus bailout impasse.
Cyprus sets up investment fund as part of bailout package
Mar 21, 2013 08:09 EDT
Cyprus politicians Thursday agreed to set up an investment fund as part of a Plan B to secure a bailout deal with eurozone lenders, while ruling out a tax on bank deposits that sank an earlier deal.
