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Shares recover slightly, but Greece fears remain

Asian shares recovered some ground on Thursday from the previous day's sell-off, but investors found little reason to chase risk amid deepening turmoil in Greece and fears of contagion to other stressed

17th May 2012
Business

Greek banks to get bridge recap by next week

Greece's bank support fund will allocate 18 billion euros by next week to the country's four biggest lenders as an interim recapitalisation, its head said on Wednesday. Huge bond swap writedowns to

17th May 2012
Business

Judge to lead Greece to fateful June 17 election

* Head of administrative court put in charge * Date of vote set for June 17 * 700 million euros withdrawn from banks -president * New poll shows radical left still surging 

16th May 2012
Business

Cyprus’ annual inflation in April reaches 3,6%

Cyprus’ annual inflation in April reached 3,6%, compared to 3,5% in March. According to figures from Eurostat, the statistical office of the European Union, Euro area annual inflation was 2.6% in April

16th May 2012
Cyprus

Euro touches 4-month low of $1.2681 on Greek exitfears

Fears that a Greek exit from the euro zone will worsen the debt crisis facing other European nations gripped financial markets on Wednesday, sending shares and other riskier assets lower as investors

16th May 2012
Business

European shares plumb fresh 2012 lows on Greek trauma

European shares sank to new 2012 lows on Wednesday in a broad-based sell-off as concern over contagion from Greece gripped investors. The FTSEurofirst 300 index fell 0.7 percent to 991.03 , having

16th May 2012
Business

Concerned about a euro exit, Greeks pull funds from banks

Greece's president spoke of "fear that could develop into panic" at the country's banks in the weeks before fresh elections that could precipitate Athens exit from the euro zone. Greeks are withdrawing

16th May 2012
Business

Facebook boosts IPO size by 25 pct, could top $16 bln

Facebook Inc will increase the size of its initial public offering by 25 percent, a source familiar with the matter said, and could raise as much as $16 billion as strong investor

16th May 2012
Business

Greece calls new elections after talks collapse

Greece abandoned a nine-day hunt for a government on Tuesday and called a new election that may hand victory to leftists who might cut the nation's financial lifeline, pushing it closer to

16th May 2012
Cyprus

Merkel, Hollande pledge to work together to boost growth

New French President Francois Hollande and German Chancellor Angela Merkel acknowledged differences on Tuesday over how to boost growth in recession-plagued Europe, but pledged to work together on a joint approach in

16th May 2012
Cyprus
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