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France passes genocide law, faces Turkish reprisals

France approved on Monday a bill making it illegal to deny the mass killing of Armenians by Ottoman Turks nearly a century ago was genocide, sparking angry retaliation from Turkey which threatened

24th January 2012
Cyprus

Obama to make pitch for second term in State of the Union

U.S. President Barack Obama will pitch new initiatives on jobs, taxes and housing in an election-year State of the Union address on Tuesday as he seizes his biggest moment yet on the

24th January 2012
Cyprus

Germany, France press for rapid Greek debt deal

Germany and France pressed on Monday for a rapid deal between Greece and its private creditors that cuts its soaring debt to sustainable levels and said they were committed to a sealing

23rd January 2012
Business

Cyprus to become hub for Europe-Asia electricity

A subsea cable some 540 nautical miles long will soon connect Israel and Cyprus to south-east and western Europe to satisfy the continent’s need for cheap and sufficient electricity. The project, initiated

23rd January 2012
Cyprus

Euro wobbles on Greek setback; subdued in holiday trade

The euro wobbled in Asia on Monday after Athens and its private creditors failed to agree on a debt swap deal that is vital to avert a chaotic default for Greece. Private

23rd January 2012
Business

Megaupload kingpin held in custody, says innocent

The founder of file-sharing website Megaupload was ordered to be held in custody by a New Zealand court on Monday, as he denied charges of internet piracy and money laundering and said

23rd January 2012
Business

Markets pause on Greece debt talk progress

Asian shares and the euro paused from last week's rally on Monday as investors sweated on the progress of crucial Greek talks on a debt swap deal to avoid a default, while

23rd January 2012
Business

Eurozone finmins to rule on glacial Greek debt talks

Euro zone finance ministers will decide on Monday what terms of a Greek debt restructuring they are ready to accept as part of a second bailout package for Athens after negotiators for

23rd January 2012
Business

IIF says creditors at limits of “voluntary” Greek deal

Private creditors said on Sunday they had come to the limits of what losses they could concede in a Greek debt swap, putting the ball in the court of the EU and

23rd January 2012
Business

Germany’s Schaeuble rejects pressure to boost bailout fund

German Finance Minister Wolfgang Schaeuble on Sunday rejected pressure to beef up the euro zone's permanent rescue facility, saying Berlin would stick to the agreement made in December for a lending capacity

23rd January 2012
Business
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Dollar losing its shine amid rising US-Iran tensions

The financial markets’ reaction to intensifying US-Iran tensions has revealed

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Euro lower as BoE remains cautious

The Euro edged lower against the British Pound on Thursday,

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