Cyprus Bailout Plan

Heavily indebted euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work as a result of plans for Cyprus to sell gold to meet its financing needs.

Cyprus's plan to impose capital controls threatens to test the ties that bind Europe's monetary union and could see euros on the Mediterranean island valued differently to those in the rest of the bloc.

The rupee fell on Tuesday, tracking a weaker euro as global markets remain gripped by anxiety about the negative fallout of the Cyprus bailout plan, while volumes were low in the holiday-shortened trading week.

Japan's Nikkei share average rose 1.7 per cent on Monday, recovering most of its decline late last week, as Cyprus and the European Union agreed to a plan to deal with the island's financial crisis.

Politicians in Cyprus were racing Saturday to complete an alternative plan raising funds necessary for the country to qualify for an international bailout, with a potential bankruptcy just three days away.

The rebuff left Cyprus looking increasingly isolated, with the deadline looming to find billions of euros demanded by the EU in return for a 10 billion euro bailout.

Global stock markets fell on Tuesday, extending the previous day's decline as investors continued to fret about a bail-out plan for Cyprus and the possible effect on the euro zone should it collapse.

The cash cargo flight was a "contingency" plan in case banks in Cyprus stopped giving out money as the island deals with the fallout from a controversial eurozone bailout deal, a spokesman said.

Asian shares steadied as investors awaited a parliamentary vote in Cyprus on a bailout plan crucial to avert bankruptcy, but potential political instability in India emerged as a fresh worry.

US stocks fell on Monday after a plan to tax bank accounts in Cyprus to help pay for the country's bailout stoked worries that it could threaten the stability of financial institutions in the euro zone.

Stocks were little changed on Wall Street after recouping losses from an early sell-off caused by concern that a bailout plan for the Mediterranean island nation Cyprus would re-ignite the European debt crisis.

US stocks dropped on Monday at the open as a divisive bailout plan for Cyprus knocked confidence in banks and provided investors a reason to lock in profits from the recent rally.

The rupee posted its worst daily fall against the dollar in more than two weeks on Monday, tracking a fall in global currencies after a bailout plan for Cyprus that involved taxing bank deposits sent shockwaves across financial markets.

Asian stock and bond markets fell and safe-haven assets such as the yen rose on Monday after a radical bailout plan for Cyprus unnerved investors by re-igniting concerns about the euro zone's weak banks and its fickle policies.

The BSE Sensex fell for a second consecutive session on Monday as interest rate-sensitive stocks were hit a day before the RBI reviews monetary policy, while broader sentiment was hurt after a radical bailout plan for Cyprus spooked global markets.

Heavily indebted euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work as a result of plans for Cyprus to sell gold to meet its financing needs.

Cyprus's plan to impose capital controls threatens to test the ties that bind Europe's monetary union and could see euros on the Mediterranean island valued differently to those in the rest of the bloc.

The rupee fell on Tuesday, tracking a weaker euro as global markets remain gripped by anxiety about the negative fallout of the Cyprus bailout plan, while volumes were low in the holiday-shortened trading week.

Japan's Nikkei share average rose 1.7 per cent on Monday, recovering most of its decline late last week, as Cyprus and the European Union agreed to a plan to deal with the island's financial crisis.

Politicians in Cyprus were racing Saturday to complete an alternative plan raising funds necessary for the country to qualify for an international bailout, with a potential bankruptcy just three days away.

The rebuff left Cyprus looking increasingly isolated, with the deadline looming to find billions of euros demanded by the EU in return for a 10 billion euro bailout.

Global stock markets fell on Tuesday, extending the previous day's decline as investors continued to fret about a bail-out plan for Cyprus and the possible effect on the euro zone should it collapse.

The cash cargo flight was a "contingency" plan in case banks in Cyprus stopped giving out money as the island deals with the fallout from a controversial eurozone bailout deal, a spokesman said.

Asian shares steadied as investors awaited a parliamentary vote in Cyprus on a bailout plan crucial to avert bankruptcy, but potential political instability in India emerged as a fresh worry.

US stocks fell on Monday after a plan to tax bank accounts in Cyprus to help pay for the country's bailout stoked worries that it could threaten the stability of financial institutions in the euro zone.

Stocks were little changed on Wall Street after recouping losses from an early sell-off caused by concern that a bailout plan for the Mediterranean island nation Cyprus would re-ignite the European debt crisis.

US stocks dropped on Monday at the open as a divisive bailout plan for Cyprus knocked confidence in banks and provided investors a reason to lock in profits from the recent rally.

The rupee posted its worst daily fall against the dollar in more than two weeks on Monday, tracking a fall in global currencies after a bailout plan for Cyprus that involved taxing bank deposits sent shockwaves across financial markets.

Asian stock and bond markets fell and safe-haven assets such as the yen rose on Monday after a radical bailout plan for Cyprus unnerved investors by re-igniting concerns about the euro zone's weak banks and its fickle policies.

The BSE Sensex fell for a second consecutive session on Monday as interest rate-sensitive stocks were hit a day before the RBI reviews monetary policy, while broader sentiment was hurt after a radical bailout plan for Cyprus spooked global markets.