Earnings reality sinks US investor hopes
A reality blast of disappointing earnings from a clutch of US business heavyweights wiped out midweek gains Friday as US markets suffered another poor week.
20 October 2012
Eurozone leaders see 'good progress' in Greece: statement
Eurozone leaders on Friday hailed Greece's achievements in carrying out reforms aimed at getting its economy back on track and urged Athens to keep up efforts to stay in the eurozone.
20 October 2012
Libya economy boosted by oil pending reconstruction
Libya's economy has made a swift recovery after the 2011 conflict, with oil production returning to near normal levels: but insecurity is holding up reconstruction and keeping foreign companies at bay.
Political standoff has US on path to 'fiscal cliff'
As the US candidates battle it out in the final weeks of the campaign another showdown looms, with the world's largest economy coasting towards a potentially disastrous "fiscal cliff."
19 October 2012
Kazakhstan's export to Customs Union lowered in 2012
The commodities turnover between Kazakhstan and CU-countries made $4.5 billion in January-August, which is 12 percent less than in the same period last year: Statistics Agency.
As euro-tension eases, EU summit mulls eurozone redesign
EU leaders will go into a brainstorming session Thursday in the first of three summits being held before Christmas in the hope of ending the year with a deal on a stronger economic and monetary union.
Gastronomy nourishes Spain's gourmet city
Ham with brie, wild mushroom croquettes, cured-meat ravioli: gourmet cooking has put this Basque town on the gastronomic map, drawing visitors from around the world.
World economy needs action from China, EU: Geithner
US Treasury Secretary Timothy Geithner said Saturday the global economy was on the mend, but more needed to be done to stoke domestic demand in China and fix Europe's fiscal woes.
14 October 2012
Beverage groups sue over New York 'supersize' ban
A US beverage industry group and other businesses filed a lawsuit Friday against the administration of New York Mayor Michael Bloomberg seeking to block restrictions on sales of large soda drinks.
14 October 2012
EU's Van Rompuy details eurozone budget rationale
EU President Herman Van Rompuy argued Friday that the 17-state eurozone could have a central 'Treasury' with a shared budget and raise funds on commercial bond markets.
14 October 2012
Fiscal policy should be 'growth friendly': IMF body
The world economy needs to balance austerity with growth if it is to recover fully from the global financial crisis, a key IMF committee said in Tokyo on Saturday.