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 ...
Japan’s Prime Minister Naoto Kan has added new faces to his cabinet in a bid to appease opposition parties, help his push to mend the country’s tattered finances and boost free trade to spur growth. Among the changes in Kan’s third cabinet since becoming prime minister were new fiscal policy, trade, justice and transport ministers, but the premier kept other key posts such as foreign, finance and defence portfolios unchanged. In... [more]
Psychological pressure on the crew of a plane carrying Polish President Lech Kaczynski to a ceremony in Russia may have led to the April crash that killed him and 95 others, Russian aviation officials said on Wednesday. “He’ll get mad,” one of the plane’s crew members said, according to a flight recording excerpt aired during a press conference by Russia’s Interstate Aviation Committee (IAC) on the probe into... [more]
China invited U.S. Defense Secretary Robert Gates inside its nuclear warfare headquarters on Wednesday, giving him a rare glimpse into control of weapons that could one day be launched at the United States. Both the U.S. and China have long-range missiles that could reach the other’s shores. Both nations say they have no intention of using the weapons that way. “There was a discussion of nuclear strategy and their overall approach... [more]
China may be the largest market for Volvo Cars by the end of 2011, as the company looks to increase sales in China six-fold by 2015, according to the head of Volvo’s China operations. “I would say (China will be the No. 1 market) in the next couple of years — hopefully one year,” Volvo Car China chairman Freeman Shen told the Reuters news agency from the Detroit auto show. Last week, Volvo announced that global sales... [more]
China has the ability to manage inflation expectations and will seek a balance between containing price pressures while maintaining strong growth and restructuring the economy, Vice Premier Li Keqiang said on Tuesday. “We have the capability … to maintain price levels and to manage inflation expectations,” Li said, answering questions after giving a speech at a London dinner hosted by the China-Britain Business Council. “For... [more]
Airbus on Tuesday announced what it called the biggest jet order in commercial aviation history, a $15.6 billion (£10 billion) deal to sell 180 planes to Indian budget carrier IndiGo that includes the first orders for a revamped model. The deal comes as the European planemaker tallies its plane orders for 2010, but will not enter the order book in time to decide whether Airbus will come from behind to win a fiercely contested annual battle... [more]
Google has appointed Rajan Anandan, previously managing director of Microsoft’s India unit, as head of its India operations effective immediately. Anandan will take over from Shailesh Rao, Google said in a statement. Rao, who was earlier handling dual roles — one as India operations head and the other as managing director of media and platform sales for Japan and Asia-Pacific, will now handle the latter role full-time, the company... [more]
Pope Benedict XVI on Monday called on Pakistan to scrap a controversial law against blasphemy, saying it served as “a pretext for acts of injustice and violence against religious minorities.” “I once more encourage the leaders of that country to take the necessary steps to abrogate that law,” the leader of the world’s one billion Catholics said in a traditional New Year’s address to ambassadors to the... [more]
Britain has signed an historic agreement with China to bring two giant pandas to Edinburgh Zoo. Tian Tian and Yangguang, a breeding pair born in 2003, will be the first to live in the UK for 17 years. Zoo chief executive officer David Windmill said: “This…represents the beginning of a programme of research, education and partnership and the project has huge benefit for the UK and Scotland, both in supporting giant panda conservation... [more]
Israeli Prime Minister Benjamin Netanyahu, saying Jews have a right to live anywhere in Jerusalem, defended on Monday a settlement project that drew criticism from U.S. Secretary of State Hillary Clinton. Israeli bulldozers cleared the way for 20 new homes for Jews in East Jerusalem, an area captured by Israel in a 1967 war and which Palestinian want as the capital of a future state, by demolishing a derelict hotel on Sunday. Clinton, in... [more]
