The Egyptian arm of Greece's Piraeus Bank, valued at over $200 million, has attracted five suitors from the Middle East and North Africa (MENA) region, two sources told Reuters on Thursday. Talks are actively ongoing but a sale was not regarded as imminent, one of the sources said, speaking on condition of anonymity as the
More
Jumbo, Greece's largest toyseller, raised its profit forecast on Thursday, citing a favourable euro-dollar exchange rate and lower than expected transport costs. Most Greek retailers are struggling with a deep recession but Jumbo, which runs 56 stores in Greece, Bulgaria and Cyprus, has improved its performance thanks to the launch of four new outlets since
More
Greece's EFG Eurobank is close to a deal to sell its 70% stake in Turkish unit Tekfen to Kuwait's Burgan Bank, it said on Thursday. While Greek banks are selling assets to shore themselves up in the face of a protracted recession and a sovereign debt crisis, Gulf investors have been looking at Turkey as
More
Yahoo Inc will lay off 2,000 people, or 14% of its workforce, in its deepest round of job cuts in years as new Chief Executive Scott Thompson tries to jumpstart growth with a leaner, more agile company while saving hundreds of millions of dollars. Wall Street's reaction was lukewarm, after two previous Yahoo CEOs failed
More
The Cuban government plans to shake up two underperforming ministries and broaden a project to turn state businesses over to employee cooperatives, state television reported. The Ministry of Agriculture and the Ministry of Informatics and Communications needed reorganizing, it said on Wednesday night. The changes, said to have been discussed at the Council of Ministers
More
Japan's government is racing to get two nuclear reactors, idled after the Fukushima crisis, running again by next month out of what experts say is fear that a total shutdown would make it hard to convince a wary public that atomic power is vital. Prime Minister Yoshihiko Noda and three cabinet ministers are to meet
More
Key ship insurer the China P&I Club will halt indemnity coverage for tankers carrying Iranian oil from July amid tightening Western sanctions against OPEC's second largest producer, two club officials told Reuters on Thursday. This is the first sign that refiners in China, Iran's top crude buyer, may struggle to obtain the shipping and insurance
More
* Mourinho: "Theirs is the biggest achievement" * Real Madrid completed an 8-2 aggregate thrashing of APOEL Nicosia on Wednesday that is unlikely to have taught Bayern Munich very much that they did not already know about their Champions League semi-final opponents. Jose Mourinho's men maintained their 100% home record in the tournament this
More
Asian shares fell on Thursday after a dismal Spanish bond sale heightened concerns about funding difficulties for weaker euro zone countries, further undermining sentiment hurt by fading expectations of more stimulus from the U.S. Federal Reserve. European equity markets, however, were likely to rebound as losses on Wednesday had offered investors a chance to book
More
Former and current managers of Greece's dominant electricity utility PPC have been charged with fraud involving sums of money handed over to Public Power Company's labour union over the past decade, court officials said on Wednesday. A spokesman for PPC/DEH, which is 51% state owned and reported a record loss in the last quarter of
More