Brussels - The trouble with telling a nervous customer that you have solved their problem is that you first have to admit that there is one. That is the dilemma facing the world's banks, governments and financial institutions as they desperately try to restore faith in an economic system which millions of customers now believe has failed.

"We have shown the world that the United States of America will stabilize our financial markets and maintain a leading role in the global economy," US President George W Bush proclaimed on October 3 after the US Congress passed a 700-billion-dollar bank rescue plan.

His words spectacularly failed to restore global confidence, with stock markets nosediving in the days following the vote.

Frankfurt - European shares came under pressure Thursday after worries about third-quarter corporate earnings and the economic outlook resulted in a rocky start on Wall Street and a slump in stocks across Asia.

With the economic gloom deepening and concerns setting in about another volatile day on Wall Street, Europe's blue-chip Stoxx 50 fell more than 2 per cent to 2180 points.

As the share trading day drew to an end in Europe, stocks in London were down about 2 per cent after gaining 0.90 per cent in early trading.

Strasbourg - The European Parliament on Thursday criticized the

Frankfurt - European shares struggled to hold on to gains Thursday after a slump in Wall Street and a mixed performance of bourses across Asia.

Amid renewed concerns about the outlook for the global economy and corporate profits, Europe's blue-chip Stoxx 50 began the trading day edging up 0.7 per cent to 2,286 points.

Reflecting the nervous investment climate shares in London gained 0.90 per cent in early trading. Paris' CAC 40 index posted a 0.37-per-cent increase. However, Frankfurt lost 0.51 per cent in early trading.

The oil price managed to pull back from recent losses, rising by 0.2 per cent to 66.87 70 dollars a barrel. In July energy prices were heading towards 150 dollars a barrel.

Frankfurt - European shares slumped more than 2 per cent in opening trading Wednesday, picking up on a downbeat end to Wall Street and steep falls in Asia.

As renewed concerns emerged about the outlook for the global economy and profits, Europe's blue-chip Stoxx 50 began the trading day down 2.5 per cent at 2,286 points.

The fall was mirrored across key national European markets with shares in London, Frankfurt, Paris and Zurich all sliding by more than
2 per cent.

Fresh economic concerns resulted in the oil price dropping by 3.3 per cent below 70 dollars a barrel on expectations of falling demand for energy. In July energy prices were heading towards 150 dollars a barrel.

Vienna - The World Bank Group has launched a new office in Vienna on Tuesday to help a wider range of countries in Eastern Europe and Central Asia attract direct foreign investment.

Expanding its previous work in Vienna that was focused on the West Balkan region, the World Bank's investment climate advisory service FIAS is expanding to countries such as the Ukraine and Armenia, programme coordinator Margit Mischkulnig said.

"It's going deeper and wider," she said.