Greece is not seeking to amend an EU-IMF safety net agreement, a top finance ministry official said, trying to calm markets that ditched Greek assets and the euro after a flurry of news suggesting Athens' debt crisis was worsening. The comment came after Market News International quoted unidentified senior Greek government sources as saying Athens
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Stock index futures edged lower on Tuesday after a report Greece wants to renegotiate a deal it struck for financial aid reignited concerns about the stability of the debt-ridden country. Greece's government, concerned that the International Monetary Fund could impose tough conditions in exchange for aid, wants to bypass an IMF financial contribution, senior government
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The European Union executive and European Central Bank had no comment on Tuesday on a media report that debt-stricken Greece wants to amend an aid deal involving the International Monetary Fund and the EU. Market News International had reported that Greece's government was seeking an amendment to the deal reached last month because of concerns
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European shares rose on Tuesday, led by the commodity and banking sectors as stocks reacted positively to Friday's strong U.S. jobs data, and the European market reopened after the long Easter weekend. By 1043 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.5 percent at 1,099.11 points after hitting a 18-month high
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The euro fell against both the dollar and yen on Tuesday on renewed worries about Greek debt but European equities hit fresh 18-month highs, outperforming flat global share markets. Wall Street looked set to open lower. Jitters about Greece returned to the market after a newspaper report said Athens was seeking to raise $5 billion
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Stronger energy stocks and miners powered Britain's top share index to a 21-month high by midsession Tuesday, as strong U.S. data over the holiday period brightened the outlook and investors shunned defensive stocks. By 1201 GMT, the FTSE 100 was up 32.24 points at 5,777.13, having earlier hit a fresh 21-month intra-day peak of 5,790.40.
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A combined use of securitisation and derivatives offers considerable scope for reducing the risk exposures of Islamic financial institutions (IFIs) and thus improving their overall creditworthiness, Moody's Investors Service said in a new Special Comment. However, the Islamic finance industry needs to develop its own innovation phase and not imitate conventional derivative instruments in order
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The Australian dollar gained after the Reserve Bank of Australia (RBA) raised its cash rate on Tuesday although with many in the market already holding the currency, the hike wasn't enough to propel it up substantially. The euro tumbled as bearish sentiment reignited, aided by reports on Greece's fiscal problems, while sterling eased ahead of
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British Prime Minister Gordon Brown was set to announce on Tuesday a May 6 parliamentary election which could bring down the curtain on 13 years of rule by his centre-left Labour Party. Brown will meet Queen Elizabeth on Tuesday to request a dissolution of parliament, a Labour party source said, a formality which will mark
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Apple Inc sold more than 300,000 iPads on the tablet computer's first day in stores, a strong showing that roughly matched Wall Street forecasts and mirrored the iPhone's debut in 2007. Despite a solid opening weekend, which prompted several investment banks to raise their earnings and revenue forecasts, the bigger test will come later this
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