A Vatican magistrate has ordered Pope Benedict's former butler to stand trial on charges of aggravated theft for leaking documents alleging corruption in the Vatican. In a 35-page document on the case which has rocked the Holy See since Paolo Gabriele was arrested last May, the Vatican also charged a computer expert who worked in
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Bulgaria's consumer prices jumped 1.5% in June, raising annual inflation to 3.1% after a double-digit increase of electricity costs in the European Union's poorest country. Analysts expect inflation in a country struggling to steer economic growth to rise to around 3.5% by the end of the year, because of a 13% hike in power prices
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Greece can raise more money by fighting rampant tax evasion than piling extra spending cuts to convince international lenders to keep it afloat, a senior Greek official said on Friday. The country has long struggled with patchy tax collection and efforts to reform a tax administration widely seen as corrupt and ineffective have failed to
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Troubled Malaga will have to beat Champions League regulars Panathinaikos if they are to reach the group stage for the first time following Friday's playoff round draw at UEFA headquarters, adding to the Spanish side's pre-season headaches. Borussia Moenchengladbach, also hoping to qualify for the first time, have been paired with Ukraine's Dynamo Kiev, who
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Cyprus club Anorthosis are facing disciplinary action after Thursday's Europa League qualifying match at home to Georgia's Dila Gori was abandoned because of crowd trouble, UEFA said on Friday. "The UEFA Europa League third qualifying round match between Anorthosis and Dila Gori was abandoned yesterday night due to crowd disturbances (with Dila Gori leading 3-1
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Global shares lost momentum on Friday, falling for the first time in five days after weak Chinese trade data, though declines were limited by expectations policymakers could act to shore up the world's economies. Stock markets' recent rally has been underpinned by comments by ECB President Mario Draghi two weeks ago that the central bank
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Cyprus's central bank governor said on Thursday he hoped a financial bailout accord could be brokered with international lenders by the end of September for aid to help a banking system battered by its exposure to Greece. "We hope that an accord can be signed (with the Troika) by the end of September, because we
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Hellenic Bank has bought Louis House for 21 mln euros from Clin Company, a holding company controlled by Louis’ major shareholder and executive chairman Costakis Loizou. The property on Amfipoleos street in Strovolos, is within the business park that includes the Hellenic Bank’s head offices, the Electricity Authority of Cyprus, the Human Resources Development Agency
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Greece will auction 3.125 billion euros ($3.83 billion) of three-month T-bills on August 14 to fund the rollover of a previous issue and repay a 3.2 billion euro government bond maturing this month, the country's debt agency said on Friday. Cash-strapped and behind targets agreed under a 130 billion euro bailout, Athens will use most
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Marcuard’s Market update by GaveKal Research Chinese corporate profits have clearly decoupled from the wider economy. Unfortunately it has been the wrong sort of separation. Profits at industrial firms slumped -2.2% YoY during 1H12, down from 29% growth in the same period last year. Worryingly, sectors such as steel, which have benefitted from China’s investment-driven
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