In mid autumn the government will have completed the evaluation to choose the company that will join the venture to create a Modern Oil Terminal and Storage at Vasiliko area. The Minister of Commerce, Industry and Tourism, Praxoulla Antoniadou Kyriakou, appeared Tuesday before the House Commerce Committee to provide an update on the issue concerning
More
Most of the largest U.S. banks passed their annual stress test, according to the Federal Reserve, in a conservative report card that underscored the recovery of the financial sector but called out a few laggards, including Citigroup. The Fed announced the results in an earlier-than-expected release on Tuesday. JPMorgan Chase pulled the trigger on announcing
More
The first privately owned passenger spaceship is on track for a test flight beyond the atmosphere this year, and nearly 500 people have signed up for rides. Another company just closed on $5 million equity financing, enough to finish building a two-seater rocketplane called Lynx. Both firms — and a half-dozen more — are looking
More
The dollar hit an 11-month high against the yen and 1-month high on the euro on Wednesday, extending its gains after a modest brightening of the Federal Reserve's economic forecasts nudged traders to downplay expectations of further monetary easing. U.S. 2-year Treasury yields hit a 7-1/2-month high after solid retail sales data, making the dollar
More
Brent crude steadied above $126 on Wednesday as expectations for a build in U.S. crude inventories offset improving economic sentiment in the world's top oil consumer. Brent crude eased two cents to $126.20 a barrel by 0446 GMT, after settling at an 11-month high of $126.22 on Tuesday. U.S. crude rose 12 cents to $106.83.
More
Greece is no longer in default but slow reforms, political uncertainty and recession could push it back towards bankruptcy, Fitch Ratings said on Tuesday after Athens completed the largest debt restructuring in history. Fitch assigned Greece a speculative B- rating, becoming the first major rating agency to lift the country out of default territory after
More
European shares rose and the dollar held near highs on Tuesday on hopes German and U.S. data will fuel expectations of an economic recovery and of no fresh stimulus moves from the Federal Reserve later in the day. Germany's ZEW economic sentiment index, due at 1000 GMT, should show Europe's biggest economy steadily recovering from
More
President Nicolas Sarkozy overtook Socialist challenger Francois Hollande for the first time on Tuesday in an opinion poll on the first round of France's April-May election after attacking the European Union's trade and immigration policies. The conservative incumbent was still shown losing to Hollande in a second-round runoff, but by a narrower margin. Sarkozy's poll
More
Moody's Investors Service downgraded Tuesday Cyprus' government bond ratings by one notch to Ba1 from Baa3, assigning a negative outlook to the ratings, citing increased risk for the government to provide financial aid to Cypriot banks due to their exposure to Greek bonds and the Greek economy. Outlining the rationale behind its decision, Moody's cites
More
Yahoo Inc sued Facebook Inc over 10 patents that include methods and systems for advertising on the Web, opening the first major legal battle among big technology companies in social media. The lawsuit, filed in a San Jose, California federal court on Monday, marks a major escalation of patent litigation that has already swept up
More