* Ministers reach deal on ESM, no Irish debt relief European central bankers have signalled they stand ready to raise interest rates next month despite uncertainty linked to Japan's nuclear crisis and the ongoing struggles of euro members Greece, Ireland and Portugal. Euro zone finance ministers meeting in Brussels this week sealed an agreement on

The 2011 credit outlook for hedge funds is stable overall, with signs of improvement underpinned by the industry's positive performance and profitability, Moody's Investors Service said in an Industry Outlook published Tuesday. The Moody's report highlights that the hedge fund industry has registered strong performance since the latter part of Q3 2010, which has resulted

After buoyant wine auctions that saw booming sales, most auctioneers believe the only bubbles in the wine market are in the Champagnes poured during the bidding. Chicago-based wine merchants Hart Davis Hart reaped $4.9 million at its Lafite auction on Saturday, reinforcing its image as the most sought-after, top growth Bordeaux. And on the same

There is big savings potential in the administrative burden Cypriot companies bear, worth up to 155 million euros per year, a study by auditing company KPMG has shown. The study was commissioned by the Cypriot government and the results were presented on Monday, March 21, during a meeting between the Executive Committee of the Cyprus

Austrian Foreign Minister Michael Spindelegger is arriving on Thursday, March 24, in Cyprus, on an official visit where he will meet his Cypriot counterpart and UN officials. According to an official announcement, Spindelegger will be accompanied by Austrian Ministry officials and will be received at Larnaca airport by Chief of Protocol Ioanna Malliotis and Austrian

* Sativex launches seen in Denmark, Germany, Sweden in 2011 * Austria, Czech Republic, Italy to follow in 2012 GW Pharmaceuticals Plc's pioneering cannabis drug Sativex has been recommended for approval in the six other European countries targeted by the British company and Spanish partner Almirall. National approvals are now expected in Austria, Czech Republic,

China's Foreign Ministry on Tuesday said that it could not accept accusations from Google Inc that the Chinese government was making it difficult for Gmail users to access the service in the country. "This is an unacceptable accusation," ministry spokeswoman Jiang Yu told a regular news conference. Google said any difficulty users in China may

Japanese stocks jumped more than 4% on Tuesday amid reports of progress in stabilising an earthquake-damaged nuclear plant and the yen edged up, putting traders on heightened alert for more central bank intervention. Oil prices were steady, following a 1% rise in the previous session as widening unrest in the Middle East fed fears of

India's government introduced a wide-ranging tax bill into parliament on Tuesday, but opposition to the move threatened to derail what is one of the coalition's most ambitious reforms of its second term. In a sign of how corruption scandals are hindering the government, opposition lawmakers immediately forced an adjournment by demanding a debate on accusations

The euro zone's permanent bailout fund, the European Stability Mechanism, will be backed by paid-in and callable capital and offer loans more cheaply than the temporary facility does now, a euro zone source said. The ESM, which is to have an effective lending capacity of 500 bln euros, will be backed by 80 bln euros