Eurozone finance ministers were to confer by telephone on Saturday after 12 hours of talks in Athens failed to produce a breakthrough on a deal to bail out Greece, the Greek finance minister said. Evangelos Venizelos added that a planned meeting by eurozone ministers on Greece originally scheduled for Monday would now be held on Wednesday. "I will participate in a Eurogroup telephone conference at 1230 GMT" to discuss details of a rescue deal for Greece worth 130 billion euros ($171 billion) which officials have been trying to seal since October, the minister said in a statement. "Critical issues pertaining to the country's ...
Australia's flood crisis deepened Saturday as authorities braced for waters to peak in Queensland where one woman is missing after being swept away while elsewhere thousands remain stranded by the surge. Prime Minister Julia Gillard said eight military helicopters would help in search, evacuation and resupply missions in the eastern state, where days of heavy rainfall have prompted hundreds of evacuations and dozens of rescues. "The helicopters will be available to assist in rescue operations as required until the immediate crisis has passed," Gillard said in a statement. In the inland Queensland town of Charleville authorities are on alert amid fears a temporary ...
Tens of thousands people are braving the bitter cold at two major rallies in downtown Moscow on Saturday as a power play between champions of political liberalization and supporters of Prime Minister Vladimir Putin continues to unfold. The first demonstration demands fair elections at the March 4 presidential polls, at which Putin is expected to secure a third term in the Kremlin. It also calls on Russians “not to give a single vote” to Putin. The opposition rally is widely seen by analysts as a litmus test of protesters’ ability to maintain momentum after two earlier protests against alleged vote fraud in favor of ...
German Chancellor Angela Merkel on Saturday wrapped up a visit to China where she tried to reassure her hosts on the strength of the euro and Europe's ability to overcome its debt crisis. During her three-day trip to the world's second largest economy, Merkel praised the advantages of the single currency and urged China to put pressure on Iran and to condemn Syria at the United Nations. Merkel, who was prevented from meeting journalists and a human rights lawyers, ended her official visit in the southern city of Guangzhou, Xinhua news agency reported. Merkel, who held talks with Premier Wen Jiabao and President ...
Norway’s government has said it wants non-European immigrants to carry residency cards equipped with data chips bearing their fingerprints. In a proposal presented on Friday, the justice ministry said the new identity cards would help tackle illegal immigration. “The residency card system will increase security surrounding residency permit documentation, thereby contributing to the prevention of illegal immigration and illegal residency,” said Justice Minister Grete Faremo (Labour Party) in a statement. The move follows pressure from the European Union to ensure that immigrants from outside the European Economic Area, of which Norway is a member, are provided with residency cards that include fingerprint details. Faremo ...
Greece expects its 2011 budget deficit will be smaller than expected at between 9.1 and 9.4 percent of GDP, thanks to an emergency property tax, a finance ministry official said on Friday, a development that could help Athens in its bailout talks with the EU and IMF. Greece, which is racing to complete talks with the EU and the IMF on a second bailout worth 130 billion euros, had previously estimated that the deficit would be above 9.5 percent of GDP. "The numbers aren't final yet but we believe the deficit will come in at between 9.1 and 9.4 percent (of GDP)," ...
China has rejected Japanese protests over alleged improper exploration of gas deposits in the East China Sea. The Foreign Ministry said Friday the recent activity had taken place within Chinese-controlled waters and was completely normal. A ministry statement said China was strongly dissatisfied with recent comments from Japanese officials. Japan's chief Cabinet secretary on Wednesday said Japan protested to China after a flare was seen a day earlier at a Chinese structure at an undersea gas deposit. The deposit, known as Kashi in Japan and Tianwaitian in China, sits near a median line in the countries' overlapping exclusive economic zones. Japan and China agreed ...
The leader of Russia's Islamist rebels ordered a halt to attacks on civilians, saying mass opposition protests showed the public no longer supported Vladimir Putin, according to a video posted Friday. Doku Umarov, whose Caucasus Emirate group claimed atrocities including a deadly Moscow airport bombing in 2011 and a metro attack in 2010, said from now only security objects and officials would be targeted. "I order all special groups that are carrying out or plan to carry out special operations in Russia to put a halt to these operations that could hurt the peaceful population," Doku Umarov said in a video address ...
China's Premier Wen Jiabao said Friday the Asian giant had neither the ability nor the intention to "buy Europe", amid concerns over growing Chinese investment in debt-stricken eurozone economies. China is "willing to cooperate with Europe to fight the current crisis. Some people say this means China wants to buy Europe", Wen told a German-China business forum in the southern city of Guangzhou. "This a concern and doesn't fit reality. China doesn't have this intention and doesn't have this ability." German Chancellor Angela Merkel, in China for a three-day visit to boost her host's confidence in Europe, also attended the forum along with ...
Energy Secretary Chris Huhne is to resign from the Government after it emerged he is to face prosecution over allegations that he asked his ex-wife to take a speeding penalty for him. The Liberal Democrat MP has been charged with perverting the course of justice after an investigation into the 2003 incident by Essex Police. His former wife, the economist Vicky Pryce is also facing charges of perverting the course of justice. They are due to appear before Westminster Magistrates' Court on February 16. The maximum sentence for perverting the course of justice is life in prison, the CPS and the Sentencing ...
Prices on private homes rose by an average 4.3 per cent from December till January. In January 2011 home prices were 7.6 per cent higher than in the same month last year. Prices on bungalows increased by 6 per cent from December till January, while duplex housing rose by 4.4 per cent. Prices on apartments rose by 3.7 per cent in the same period. Share this: {lang: 'en-US'} function open_win(url,id) { var... [more]
Germany’s ruling coalition has agreed new regulations for open-ended real estate funds, which have suffered from volatile investor behaviour, financial experts involved in talks told Reuters on Monday. From 2013, the cancellation period for investors will be 12 months and new investors will be subjected to a holding period of a minimum of two years, the sources said. Up to now, there had been no regulation on holding and cancellation... [more]
Some 45,000 home owners face a risky combination of having high housing costs and a mortgage which is bigger than the value of their home, according to the government’s social policy unit SCP. Before the recession, 30,000 households were in a similar position, the SCP says in a report out on Wednesday. But unemployment and lack of savings have forced up the number of households in a potentially difficult situation. The SCP say housing... [more]
Prices for apartments in Stockholm fell in April, with market commentators claiming that this could indicate a broader fall in the hitherto booming housing market across Sweden. Tenant-owner apartments (bostadsrätter) in central Stockholm fell by two percent in April, a new report from Mäklarstatistik shows, with price falls of one percent across the greater Stockholm area. “Price developments in Stockholm’s inner city set... [more]
A Philadelphia-area real estate developer has sued the Citizens Bank unit of Royal Bank of Scotland Group Plc for $8 billion (4.96 billion pounds), claiming the bank had jeopardizing a $700 million project to redevelop a steel-plant site by reneging on financing commitments. O’Neill Properties Group LP argued that Citizens Bank, using an “artifice” of fabricated or sham defaults, tried to collect on about $180 million of... [more]
Two of the three coalitions parties, are looking into the possibility of phasing out tax relief for mortgages under which only the interest is paid off for the first 30 years, reports Wednesday’s Volkskrant. Scrapping this form of mortgage (which allows home owners to the maximum tax relief on their loans) could be a ‘realistic first step’ in making the cuts that the cabinet needs to get the country’s finances back on track, according... [more]
NEW YORK – The latest reading on home prices is expected to show a decline from year-ago levels, but since June government programs to boost home sales have helped prices improve on a monthly basis. The figures for October, which will be released Tuesday, should reflect the rush of homebuyers trying to complete their purchases before the original expiration of a federal tax credit. The Nov. 30 deadline was extended last month to April... [more]
