* Markets rise on hopes of EFSF flexibility * EU leaders must find a convincing solution to Greece's debt crisis at a summit on Thursday or the global economy will pay the price, the head of the European Commission said in an unusually sombre warning. Jose Manuel Barroso delivered the message as officials of the
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. The Risk Watch Column By Dr Alan Waring In the previous Risk Watch in last week’s Financial Mirror (‘A Gamble that Cost Lives’), I identified a number of key principles applicable to the safety of sites that make, handle or store explosive materials. In this article, I make further observations and comment on the
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. By Shavasb Bohdjalian Forex traders showed their disappointment with the results of the eurozone bank stress tests by knocking the euro lower in early week trading. Eight out of the 90 banks that failed the July 15 tests had only a combined capital shortfall of 2.5 billion euros, the European Banking Authority said on
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Emporio Forex Comment Weekly Forex Outlook: EUR/USD – July 18-22 By James Cabrera General Manager, Emporio Forex Euro/dollar had another interesting week. Apart from the ongoing debt crisis, there are many indicators this week. Here is an outlook for these events, and an updated technical analysis for EUR/USD. After conformation Portugal, Ireland, Spain and Italy
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A bank tax could be part of a solution in a new financing package for Greece but talks include other elements, like the initial idea of a Greek debt rollover by banks, Belgian Finance Minister Didier Reynders said. Euro zone officials have grouped possible options for a second Greek bailout into three basic scenarios, according
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* May need 1 bln euro bailout after blast * Gov’t fragile after ForMin quits * Cyprus may need a bailout to cope with its worst peacetime disaster from a munitions blast unless urgent action is taken to improve the country's finances, Central Bank Governor Athanasios Orphanides has warned. Faced with a possible collapse of
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Moody's Investors Service has lowered to negative from stable the outlook on the bank financial strength ratings (BFSR) and global local-currency (GLC) deposit ratings of four Lebanese banks – Bank Audi, Blom Bank, Bank of Beirut and Byblos Bank. The changes reflect the slowdown in the Lebanese economy — amidst domestic political uncertainty in H1
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Greece's Finance Minister Evangelos Venizelos will head to Washington on Sunday for talks with International Monetary Fund chief Christine Lagarde and U.S. government officials, his ministry said on Wednesday. On Tuesday the IMF warned that Europe's debt crisis could have a major global impact if it is not tackled quickly, urging euro zone leaders to
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Serbia's last major war crimes fugitive, a Croatian Serb wartime leader indicted for crimes against humanity during the 1991-95 Croatian war, has been arrested, a Serbian official told Reuters on Wednesday. Goran Hadzic, 52, was a key figure in the breakaway Krajina Serb republic in Croatia, and after the arrest of wartime General Ratko Mladic
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Blockbuster sales of the iPhone and strong Asian business again helped Apple Inc crush Wall Street's expectations, driving its shares up more than 7 percent to a record high and boosting Asian stocks. Sales of its iconic products far outpaced forecasts, helping drive a near-doubling of revenue in the fiscal third quarter. Its shares leapt
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