The euro slipped on Tuesday after Germany demanded painful new austerity measures from Greece in return for badly needed financial aid, with investors likely set to push high risk European sovereign bond yields up further. Chinese stocks were down more than 2 percent and the Shanghai composite dropped to a 6-month low, leading declines in
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Goldman Sachs Group Inc (GS.N) will want a judgment based on 'merits and facts' in the fraud case against it rather than popular opinion that it is an 'evil empire', a senior lawyer from the firm that represents it said on Monday. Fraud charges filed against Goldman by the U.S. Securities and Exchange Commission have
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Japan's Sharp Corp (6753.T) swung to a quarterly profit on robust sales of display and solar panels, and forecast more than a twofold jump in annual operating profit to its highest in three years, beating market expectations. Sharp, the maker of Aquos LCD TVs, trails Samsung Electronics (005930.KS), Sony Corp (6758.T) and LG Electronics (066570.KS),
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A current round of talks between Greece and the IMF is moving towards a simple and common approach that the country "needs to drastically reduce its fiscal deficit, control public debt and promote all the structural reforms to have a more competitive economy," Finance Minister George Papaconstantinou said on Monday. (ANA-MPA) Speaking to reporters, the
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A majority of Greeks disapprove of their government's decision to ask for financial aid from the European Union and the International Monetary Fund, the first opinion poll taken since the request showed on Tuesday. The survey showed increasing pressure on Prime Minister George Papandreou's government, which has suffered a fall in voters' trust in its
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The euro slid on Tuesday as Germany demanded painful new austerity measures from Greece in return for badly needed financial aid, while Asian stocks fell as investors took profits in sectors that have been outperforming in recent weeks. Greece could become the first euro zone country to be bailed out because of its weak finances,
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Revenue from tourism rose by 14.3% in March 2010 to reach EUR 65.6 mln compared with EUR 57.4 mln in the corresponding month of the previous year. Tourism arrivals in the same month rose by 14.8%. For the period January – March 2010 revenue from tourism rose by 3.5% to EUR 129.2 mln, compared with
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Retail trade in Cyprus was still down over the year earlier in February, according to preliminary figures from the Statistical Service. The turnover volume index of retail trade (except automotive fuel) is provisionally estimated to have fallen by 6.1% year on year in February. In January 2010 final data show That the volume index fell
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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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