Financial spreadbetters expect Europe's main stock indexes to rally on Monday after Cyprus reached a deal with international lenders for a 10 bln euro bailout and a further 5.8 bln bail-in programme to recapitalise its banks. Spreadbetters expect London's FTSE 100 to open around 39 points higher, or up 0.6%, Frankfurt's DAX to open 70
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The euro and Asian shares rose on Monday after EU sources said the Cyprus president, the European Union, ECB and the IMF have agreed the outlines of a rescue deal to avert financial meltdown on the island. The outlines include the creation of a "good bank" and a "bad bank" and the shutting down of
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The Eurogroup of 17 euro zone finance ministers will probably approve a bailout deal for Cyprus thrashed out with international lenders in Brussels after midnight on Sunday with its biggest lender, Bank of Cyprus, spared from default. The bank will need to raise 5.8 bln from own funds in a bail-in, while it will absorb
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The meeting of euro zone finance ministers in Brussels is finally expected to begin after a 4-hour delay that was preceded by face-to-face negotiations between the Cyprus leadership and its international lenders to work out a 16 bln euro bailout deal that caused a rift among EU members, as well as Russia, and may have
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President Nicos Anastasiades, faced with a default of the Cyprus banking system if urgent needed funds are not released to rescue the eurozone member, is starting emergency talks in Brussels on Sunday with EU President Herman Van Rompuy, prior to a Eurogroup finance ministers' meeting at 6pm local time (1700 GMT). The EU leader cancelled
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Israeling, encouraged with a warming of relations of former foe Turkey, said it fired into Syria on Sunday and destroyed a machinegun position in the Golan Heights from where shots had been fired at Israeli soldiers in a further spillover of the Syrian civil war along a tense front. A spokesman for Prime Minister Benjamin Netanyahu
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Prime Minister Tayyip Erdogan said on Saturday an Israeli apology for the 2010 deaths of nine Turkish pro-Palestinian activists that was brokered by U.S. President Barack Obama met Turkey's conditions and signalled its growing regional clout. "We are entering a new period in both Turkey and the region," said Erdogan, who plans to visit the
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From car salesman to Kremlin king-maker to billionaire political exile, Boris Berezovsky, the tycoon who was Vladimir Putin's fiercest critic, seemed to play a role in nearly every crucial scene in the roller coaster drama of post-Soviet Russia. A mathematician by training, Berezovsky's expertise at political calculus gave him power beyond his position in a career that
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Switzerland missed the chance to take a commanding lead in World Cup qualifying Group E after being held to a 0-0 draw by battling Cyprus on Saturday. After five games, Switzerland have a two-point advantage over Albania and Iceland, who both won on Friday, and while they will remain confident of earning a place in
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Euro zone finance ministers will meet in Brussels on Sunday evening to discuss a possible rescue package for Cyprus, the head of the Eurogroup said in tweet. "Tomorrow 6pm #eurogroup on #cyprus," read a tweet from Jeroen Dijsselbloem, Dutch finance minister and president of the Eurogroup of 17 euro-zone finance ministers. Cyprus finance minister Michalis Sarris said
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