Syria is seeking to side-step sanctions that are hampering business with foreign firms by bartering crude oil in return for the fuel it desperately needs to keep the country on its feet, traders said on Friday. Although the EU has stopped short of banning the sale of fuel to Syria for humanitarian reasons, companies are
More
. The Risk Watch Column By Dr Alan Waring My previous Risk Watch article (‘Mari-Vassilikos Disaster: Did EAC Comply with Seveso Directive?’) summarised a number of the requirements of the EU Major Hazards Directive (the ‘Seveso II Directive’) and asked whether the Electricity Authority of Cyprus (EAC), the operators of the Vassilikos power station site,
More
. Turkey’s latest sabre-rattling has once again paid off. In order to avoid a direct conflict with Israel, paymaster Washington has been called in to get Recep Tayyip Erdogan and Benyamin Netanyahu to repair the ties that have cooled ever since the Erdogan-Shimon Peres charade at Davos two winters ago. Following that, Ankara saw an
More
. By Shavasb Bohdjalian Sentiment on the euro was hurt by the failure of European policymakers to calm markets about a Greek default and the risk of the debt crisis engulfing larger euro zone economies and banks. Earlier in the week, the euro rallied higher in anticipation of a breakthrough at the Ecofin meeting in
More
European shares staged a late rally on Friday following a torrid week, helped by hopes of further measures from the European Central Bank to ease the region's debt crisis, while French banks strongly recovered. BNP Paribas surged 11% and Societe Generale soared 6.9%, with traders citing market talk of help from the French government with
More
Greek bank stocks fell by as much as 5.2% in morning trade on Friday over reports that Greek default scenarios were being considered, underperforming European peers , which were up 1.5%. "Investors think that the (EU) July 21 deal is dead and that instead of that scenarios of a default are being pushed forward," an
More
Workers at Greece's biggest telecoms company OTE on Friday accepted wage cuts to avoid firings in the biggest labour deal of its kind reached so far in the austerity-stricken country. OTE, a former state monopoly which is now 40-percent owned and managed by Germany's Deutsche Telekom , expects to save 160 million euros ($215 million)
More
Scientists around the world said on Friday the discovery of sub-atomic particles apparently traveling faster than light could force a major rethink of theories on the makeup of the cosmos, but the findings would first have to be independently confirmed. "Extraordinary claims require extraordinary evidence, and this is an extraordinary claim," eminent cosmologist and astrophysicist
More
Russia moved closer to joining the World Trade Organization on Friday after reaching an outline deal with the European Union, the most powerful bloc still hesitating about Russia's accession, trade sources said. EU and Russian negotiators in Geneva have drafted an agreement over Russian rules governing investment in the country's booming auto sector, said a
More
Not every Oktoberfest reveller will know they're toasting the 19th-century marriage of a Bavarian crown prince as they guzzle beer and bratwurst for two weeks each autumn. But that's where the tradition started and, though its roots are still in Munich, the entire world has since joined in on the celebrations. Online adviser Cheapflights (www.cheapflights.com)
More