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 ...
Greek borrowing costs soared to new highs on Thursday and pressure rose on other financially weak euro zone countries after Germany suggested for the first time that Athens may have to restructure its large debt load. European policymakers scrambled to reassure investors that a restructuring for Greece was not on the agenda, saying such a step could have dire consequences for European banks and the fragile economy of the 17-nation euro... [more]
A FORMER UN weapons inspector has been convicted of having unlawful contact with a minor, after being nabbed in an online sex sting. Scott Ritter, 49, exchanged explicit messages with a detective posing as a 15-year-old girl and masturbated even after the undercover officer stressed during the chat that he was a minor, prosecutors said. A jury in the US state of Pennsylvania found Ritter guilty on six counts today, with sentencing set... [more]
Catherine Middleton will spend her last night as a single woman in the royal suite of London’s Goring Hotel, it was reported today. According to the Sun, the bride-to-be booked the luxury five-room suite for the night of April 28, the day before she marries Prince William. Hotel bosses are said to have spent more than $A230,000 renovating the top-floor apartment ahead of her stay. Photographs published in the newspaper show the... [more]
Five weeks after Japan’s quake, tsunami and nuclear crisis struck, Tokyo Disneyland threw open its doors again Friday, bringing some welcome relief to thousands of disaster-weary families. Mickey Mouse greeted and hugged many of the 10,000 visitors who had queued up, some of them all night, outside the giant theme park, which had been shut despite suffering only minor damage in the tectonic disaster of March 11. “I’m delighted... [more]
On Thursday the National Debt Office (NDO) took a small step towards Saabs recovery by opening up for the cash-strapped carmaker to receive loans from other sources than the European Investment Bank (EIB). “This morning we received a final proposal from Saab dealing with solutions for their financial problems. We have expedited it (to the government) … and by close of business today we will send a letter to the government... [more]
Japan’s economy suffered a big blow in the triple earthquake, tsunami and nuclear disaster, but the country should have no problem financing reconstruction, the central bank chief said. Bank of Japan Governor Masaaki Shirakawa conceded problems in the economic supply chain, power generation, tourism and other important sectors. But he said the financial system could cope. “As long as Japan continues to work tirelessly towards... [more]
The judge in the News of the World phone-hacking scandal is due to hold unprecedented meetings to decide how the case should proceed. Mr Justice Vos will hear submissions on issues such as whether to identify so-called ‘lead cases’ and how the courts should deal with future litigations. It is hoped that bringing claims all into one case will allow proceedings to progress more smoothly. A number of alleged victims have recently... [more]
A summit of the world’s biggest emerging economies has highlighted a shift in power away from the US and Europe. The populations of Brazil, Russia, India, China and South Africa account for 40% of the world’s people. And those countries are experiencing the kind of economic growth that most in the West can only dream about. Today’s summit meeting of leaders from the five nations in the Chinese resort of Sanya will try... [more]
Anglo-Dutch consumer goods giant Unilever was fined 104 million euros on Wednesday for fixing washing powder prices in eight EU countries. US-based Procter & Gamble Co. has to pay 211.2 million euros in EU fines. Germany’s Henkel, which alerted the European Commission to the cartel in laundry detergent, was not fined. The P&G/Unilever cartel operated Belgium, France, Germany, Greece, Italy, Portugal, Spain and the Netherlands... [more]
Leaders of five of the world’s major emerging powers said Thursday the use of force in Libya and the Arab world should be avoided, at a summit intended to showcase their growing global clout. The leaders of Brazil, Russia, India, China and South Africa also warned volatile commodity prices could slow the global recovery and that huge capital flows could hurt developing countries, according to a draft summit communique. Chinese President... [more]
