Greece does not require a third bailout and can cover its needs without further burdening its current backers, by improving the terms of its debt and possibly returning to the bond market next year, the country's deputy prime minister said on Wednesday. Evangelos Venizelos, who is also foreign minister in a coalition government, is determined
More
Angela Merkel's best hope of saving her bold energy revolution may lie in a coalition with the centre-left Social Democrats (SPD), who could agree to modest cuts to costly incentives for green power which are, paradoxically, driving up energy prices. The German chancellor's experiment to wean Europe's biggest economy off nuclear and fossil fuels and
More
Ministers and experts in Cyprus fully understand that the first priority for the Cypriot economy now is stabilization and that hydrocarbon revenues will come in as a plus once the economy is back on its feet, Michael Leigh, a Senior Adviser at the German Marshall Fund in the US has said. In a press briefing
More
Restoration work in Apostolos Andreas monastery in the occupied Karpas peninsula is expected to start in January 2014, according to the representative of the Greek Cypriot side at the Technical Committee on Cultural Heritage Takis Hatzidimitriou. After briefing MP’s of the Parliamentary Committee on Refugees on the issue, Hatzidimitriou said that two agreements were signed
More
The dollar fell and world shares held near a one-week low on Wednesday as concerns over a potential government shutdown in Washington and mixed signals on U.S. monetary policy kept investors on edge. U.S. stock index futures point to a mixed open for Wall Street following four days of losses where the broad S&P 500
More
Greeks staged protests in Athens on Wednesday against the fatal stabbing of an anti-racism rapper by a supporter of the far-right Golden Dawn party, which a new poll found has lost a third of its support since the killing. The death of 34-year-old Pavlos Fissas has fired outrage across the political spectrum against a party
More
Former IMF chief Dominique Strauss-Kahn has been named head of an investment firm, marking another step in the business comeback of a man whose career and French presidential hopes were ruined by a sex scandal. The 64-year-old economist who fronted International Monetary Fund rescues of debt-crushed countries in his time at the helm, was forced
More
The Cyprus Ministry of Finance is expected to file charges against first division clubs for failing to pay value added tax of up to 4 mln euros, news reports said Wednesday. The charge sheet against the four clubs says they have failed to pay VAT dating back from 2007, which could result in their being
More
TUI Germany, part of Europe's largest tour operator TUI Travel, is restarting holidays to Egypt with immediate effect after the German foreign ministry relaxed its travel advice for the country. With the Red Sea resorts remaining calm, some tour operators, including Thomas Cook Germany, have announced plans to restart trips in time for the winter
More
Facebook Inc and Twitter face a daunting task in China, if access to their social networks is unblocked, as they would be up against deeply entrenched domestic rivals which cater to local needs and tastes. Years of isolated growth means China's sophisticated social media companies, including Tencent Holdings, Sina Inc and Renren Inc, won't be
More