Brent crude edged below $125 on Monday as a possible resumption in crude production from South Sudan offset supply worries on news of a sizeable drop in Iranian oil exports due to Western sanctions. Oil supply disruptions from Iran, Syria, South Sudan and Yemen have supported oil prices this year, with Brent rising 16 percent
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Greece's listed banks have asked for an extension to the March 31 deadline for reporting their 2011 results to assess losses resulting from a recently completed bond swap that formed part of the government's international bailout. On March 12, Greece swapped a nominal amount of 177 billion euros ($233.54 billion) of government paper issued under
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The Cyprus state-owned electricity company signed an agreement Friday for the final leg of a 1.5 billion-euro Israel-to-Europe power cable that should be operational by 2016. The EuroAsia Interconnector twin-cable underwater link will have a capacity to carry 2,000 megawatts across 1,000 kilometres from Israel to Greece, via Cyprus, with a mere 1% loss, the
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Global temperatures in 2011 hit the 11th highest level on record despite the cooling influence of a strong La Nina weather pattern, the World Meteorological Organization said on Friday. On average, global temperatures in 2011 were lower than the record level hit the previous year but were still 0.40 degrees Centigrade above the 1961-1990 average,
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Panathinaikos have been docked five points and been told to play four games behind closed doors as punishment for crowd violence in the stiffest penalty imposed by the Greek Super League. The league's disciplinary committee handed down the punishment on Friday after Panathinaikos's derby match against Olympiakos Piraeus at the Olympic Stadium last Saturday was
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EU governments decided on Friday to sanction a further 12 people from Belarus, including two businessmen and their companies, diplomats said, widening the range of targets to punish President Alexander Lukashenko's crackdown on civil liberties. EU companies will also be banned from doing business with 29 entities in Belarus, many of which are owned by
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The yen softened on Friday after Tokyo importers took advantage of its broad rally the day before, while risk currencies such as the Australian dollar were poised to end the week sharply lower on fresh concern about the health of the global economy. Manufacturing shrank for a fifth month in China, while factory activity in
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Brent was steady above $123 a barrel on Friday, as the possibility of supply disruptions put a floor under a market that fell sharply in the previous session on weak manufacturing activity in China. The potential loss of Iranian crude supplies amid tightening Western sanctions and news that the International Energy Agency (IEA) was not
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World stocks held steady below this week's 8-month peak on Friday while the dollar fell broadly as concerns about growth in China and the euro zone and a renewed focus on sovereign debt problems in Italy and Spain kept investors cautious. Italy was expected to come under scrutiny when it releases retail sales data at
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Cyprus and Poland signed Thursday a protocol amending the Agreement between the two countries for the Avoidance of Double Taxation with respect to taxes on income and capital. The agreement was signed between Cypriot Minister of Finance Kikis Kazamias and Ambassador of the Republic of Poland in Nicosia Pawel Dobrowolski. Signing his last document as
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