Hedge funds are taking on the powerful International Monetary Fund over its plan to slash Greece's towering debt burden as time runs out on the talks that could sway the future of Europe's single currency. The funds have built up such a powerful positions in Greek bonds that they could derail Europe's tactic of getting
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After years of predictions that the "$1,000 genome" – a read-out of a person's complete genetic information for about the cost of a dental crown – was just around the corner, a U.S. company is announcing Tuesday that it has achieved that milestone and taken the technology several steps ahead. The new genome-sequencing machine from
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The number of building permits authorised dropped for the ninth straight month in October, falling by 12.1% compared with October 2010 to 594 units. The total value of these permits fell in the same period by 21.3% to EUR 170.5 mln. The total area decreased by 23.6% to 180,757 square metres. Building permits for dwellings
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The consumer price inflation rate rose to 3.3% in 2011, from 2.4% in 2010 according to the latest figures from the Statistical Service. The big jump in electricity prices in 2011 was reflected in prices for the category of housing, electricity, water and gas, which rose in 2011 by 10.2%. Electricity tariffs had already risen
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The deficit on trade in goods shrank by 36% in November, according to preliminary figures. Weaker demand appears to be behind a big drop in imports. Total imports/ arrivals dropped to a provisional EUR 515.0 mln in November 2011, from EUR 714.3 mln in November 2010. Total exports/dispatches, meanwhile, rose to EUR 128.1 mln from
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The Swiss National Bank starts the search for a new board member on Tuesday after the resignation of Philipp Hildebrand as chairman over a controversial currency trade made by his wife. Hildebrand's wife Kashya, a former hedge fund trader who now runs a Zurich art gallery, bought 400,000 Swiss francs ($418,000) worth of dollars on
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Mitt Romney is poised to take a big step toward the Republican U.S. presidential nomination on Tuesday by capturing New Hampshire, hoping to ride out last-minute attacks from his rivals and recover from a self-inflicted wound. The former governor of neighboring Massachusetts carried a sizeable lead in polls into voting day, a sufficient cushion that
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Asian shares made solid gains and the euro rose on Tuesday, but concerns over euro zone sovereign funding ahead of key auctions outweighed some optimism on the economic outlook elsewhere and kept investors cautious about taking riskier positions. MSCI's broadest index of Asia Pacific shares outside Japan rose 1.6% as the materials sector outperformed after
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German Chancellor Angela Merkel warned Greece on Monday it would not be possible to give further aid without rapid progress on its second rescue package, including a voluntary write-down on Greek debt held by private creditors. "We must see progress on the voluntary restructuring of Greek debt," Merkel told a joint news conference with French
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Cyprus and Israel signed two agreements on Monday concerning defence cooperation and the protection and exchange of graded information. The agreements were signed during the official visit to Israel by Cypriot Minister of Defence Demetris Eliades, at the invitation of Israel's Deputy Prime Minister and Minister of Defence Ehud Barak, who said Cyprus and Israel
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