A Greek ferry carrying 250 passengers and crew caught fire in the eastern Aegean Sea on Friday, but the blaze was contained and no injuries were reported. Five people were evacuated and treated for respiratory problems. The fire broke out in the funnel of the Nissos Mykonos as it was sailing on its first voyage
More
National Bank of Greece (NBG) said on Friday it had raised enough money from private investors in a share offering to ensure it avoids state control. NBG is the second major Greek lender to successfully recapitalise without falling under the full control of the Hellenic Financial Stability Fund (HFSF), a vehicle to rescue Greek banks
More
Moody's Investors Service has placed Bahrain's Baa1 government issuer rating on review for possible downgrade due to the fiscal implications of the kingdom’s high and rising break-even oil price; the outlook for lower trend growth over the medium term; and, the impact of a low-growth, high government expenditure and weaker oil price scenario on Bahrain's
More
The Hellenic Association for Financial Law, member of the European Society for Banking and Financial Law, recently organized a conference in Athens on “The crisis of the Cypriot Banking System and the recovery and resolution measures of Cypriot banks”, chaired by the distinguished Greek lawyer Dr. Dimitris G. Tsibanoulis The conference attracted more than 300
More
Europe's newest passenger jet, the Airbus A350, successfully began its maiden flight on Friday. Watched by over 10,000 employees and spectators, the sleek jet with curled wingtips took off from Airbus's Toulouse plant under cloudy skies, with a crew of six wearing parachutes and orange jumpsuits and with tonnes of test equipment on board. The
More
Cyprus, Greece and Latvia had the lowest annual inflation rates in the Eurozone in May 2013, according to figures released on Friday by Eurostat, the statistical office of the European Union. More specifically, in May 2013, the lowest annual rates were observed in Greece (-0.3%), Latvia (-0.2%) and Cyprus (0.2%), and the highest in Romania
More
Cyprus Attorney-General Petros Clerides announced today he will launch a criminal investigation into the circumstances the Bank of Cyprus has acquired the Russian Uniastrum Bank. Clerides announced the launch of the probe during a hearing of the three-member investigation committee, appointed by Cyprus President to investigate the circumstances under which Cyprus resorted to the EU
More
Turkish protesters said on Friday Prime Minister Tayyip Erdogan had pledged not to push ahead with plans to redevelop an Istanbul park until a court ruled on the project, in what they heralded as a positive sign after two weeks of protest. Erdogan met a delegation overnight mostly made up of actors and artists but
More
"Happy Birthday to You," the ditty sung around the world in tribute to everyone from toddlers to centenarians, belongs to the public, according to a lawsuit filed on Thursday. The proposed class action asks a federal court to declare the song to be in the public domain and that Warner/Chappel Music Inc, the music publishing
More
Greek Prime Minister Antonis Samaras moved to defuse a political crisis over the government's abrupt closure of state broadcaster ERT that prompted a nationwide strike on Thursday and brought thousands into the streets in protest. Samaras, who has branded defenders of ERT hypocrites, invited two left-wing junior coalition parties opposed to the shutdown to talks
More