Greece must commit to further savings measures and show it can return to a sustainable economic path before Germany can approve emergency aid, Chancellor Angela Merkel said on Monday. "We need a positive development in Greece together with further savings measures," Merkel told reporters. "Germany will help if the approproate conditions are met. Germany feels
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The European Commission said on Monday it was not in a position to say when talks on triggering a joint European Union-International Monetary Fund aid package for Greece would end. A Commission spokesman also said the EU executive would not publish in full its assessment of Greece's request for aid. "There is no deadline," he
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Cyprus's earnings from tourism rose 3.5 percent in the first quarter of the year, bolstered by earlier Easter holidays, data showed on Monday. Tourism, which accounts for 11 percent of gross domestic product, along with real estate, helped push Cyprus into a recession last year, with the economy contracting 1.7 percent. Revenue from tourism rose
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Israel will begin allowing people to bring Apple iPads into the country starting on Sunday, two weeks after customs began confiscating the tablet computers for fear they would interfere with other wireless devices. "Following the completion of intensive technical scrutiny, Israel Minister of Communications Moshe Kakhlon approved the import of (the) iPad to Israel," the
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Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.16 percent and Nasdaq 100 futures up 0.1 percent at 5:06 a.m. ET. Companies set to report quarterly earnings include Dow component Caterpillar Inc (CAT.N), Boston Scientific (BSX.N), Texas
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Greek debt came under intense pressure on Monday, with the yield spread against German Bunds soaring to fresh 12-year highs as investors grew impatient over the implementation and terms of a financial bailout for Greece. Comments from Germany kept markets nervous over Berlin's commitment to providing aid for Greece, as investors sold Greek debt, forcing
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With official interest rates near zero and the Federal Reserve unable to cut them any further, every policy meeting by definition brings the central bank one step closer to an eventual monetary tightening. As signs of firmer U.S. growth become more widespread, investors are getting antsy about anticipating the Fed's next move, a guessing game
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The euro stabilised on Monday and Asian share markets rose after Greece requested emergency aid and as a raft of U.S. data showed its economic recovery was gathering strength. Shares in Europe were expected to follow Asian markets higher, with Britain's FTSE 100, Germany's DAX and France's CAC-40 all likely opening up about 0.5 percent.
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Oil rose on Monday, pushing Brent crude to a fresh 18-month high, as robust manufacturing and home sales data in the United States buoyed hopes of a sustained economic rebound in the world's top energy user. Traders awaited cues from U.S. April consumer confidence data, due on Tuesday, as well as the outcome of the
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Until investors have a clear idea of exactly how much money Greece will receive from the European Union and the IMF — and when — uncertainty stemming from the Hellenic Republic's growing fiscal despair will weigh on global markets. For Greece, the situation is critical as the cost of insuring its debt against default jumps
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