Bulgaria and Turkey will sign a political accord to back the construction of a pipeline aimed to link the gas systems of the two neighbours and allow Caspian natural gas flows to Europe, Bulgarian energy minister said on Saturday. European Union's Bulgaria, which gets almost all of its gas through one route from Russia's Gazprom
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Greece's new prime minister headed to Brussels on Sunday to fight for the aid Athens needs to avoid bankruptcy, even as one of his coalition backers refused to give a written pledge to support reforms and a public sector union geared up for strikes. Lucas Papademos must convince the International Monetary Fund and the European
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Asian shares fell on Monday as uncertainty remained over how euro zone leaders would respond to mounting funding difficulties for European banks, and an apparent failure by U.S. politicians to agree on deficit reduction hurt sentiment. The U.S. congressional deficit-reduction committee was set to formally announce its three-month-long effort to bridge partisan differences over taxes
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**Taxes on income and wealth leap 23.8% ** The Cyprus government made some headway in reducing its annual budget deficit by posting a budget surplus in the third quarter. According to preliminary data on the EU-compatible general government accounts, total revenue rose by 8.3% compared with the corresponding period of 2010 to EUR 1,978.4 mln.
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With a new theme area that makes guests feel as if they're being shrunk to the size of a toy, Hong Kong Disneyland hopes to boost the number of visitors to a magic kingdom the performance of which to date has been less than dazzling. Since opening to great fanfare in 2005, Disney's first park
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Angela Merkel and David Cameron will try to resolve clashing views on the euro crisis on Friday with London accused of being selfish for opposing a tax on banks and Berlin touching off British sensitivities about transferring power to Europe. London wanted the prime minister's visit to be low-profile, but such hopes were dashed after
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Members of the press could serve as important partners in our effort to have a successful Cyprus’ EU Presidency the second half of 2012, Deputy Minister to the President for European Affairs Andreas Mavroyiannis said on Thursday. Speaking at a meeting with journalists in Nicosia, Mavroyiannis said that the Media in Cyprus have a significant
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Asian shares fell for a fourth day in a row on Friday as Europe's funding difficulties intensified, with Spanish borrowing costs hitting an unsustainable level and premiums for dollar funds rising further. In a sign that global funding strains may spread to Asia, benchmark three-month euroyen interest rates futures fell to an eight-month low on
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Dutch state-owned bank ABN AMRO on Friday slumped to a third-quarter loss due to a 500 million-euro writedown on Greek corporate loans and bonds. "Uncertainty as a result of the sovereign debt crisis and the impact thereof on the European economy, caused us to impair part of the 1.4 billion euro Greek Government-Guaranteed Corporate Exposures,"
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Britain's banks have shrunk their lending exposure to peripheral euro zone counterparts by a quarter in just three months, the Financial Times reported on Friday. According to data compiled by the newspaper, used as the source for the article, the big four UK banks cut interbank loan volumes by more than 24% to 10.5 billion
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