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 ...
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... [more]
More than 8 tonnes of radioactive water leaked from a reactor at Japan’s Fukushima nuclear plant but none reached outside the reactor building, Tokyo Electric Power Cosaid on Thursday as it strives to ensure damaged reactors are stable enough for work to start on dismantling them. Experts said the incident, which follows smaller leaks last weekend, is not a big setback to getting the plant under control but the timing is awkward... [more]
Japanese media have largely misinterpreted Russian Foreign Minister Sergei Lavrov’s statement on the referendum over the disputed Kuril Islands, a Russian diplomatic source said on Tuesday. Japan’s national broadcaster NHK cited Lavrov on Sunday as saying that the fate of the disputed Kuril islands in the Pacific Ocean should be decided in a national referendum. “It is a blatant distortion of the minister’s words,”... [more]
Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a $3.9 billion deal that reflects a long-term decline in Japan’s demand for fuel and a global strategy to refocus on exploration. TonenGeneral Sekiyu will buy 99 percent of the shares of Exxon Mobil Yugen Kaisha, which refines and sells fuel and lubricants, the Japanese refiner said about the deal, announced Sunday. Exxon... [more]
Japan is asking the UN’s nuclear agency to set up a permanent office in Fukushima to monitor its efforts to contain the world’s worst nuclear accident since Chernobyl, according to officials. The news came as an International Atomic Energy Agency (IAEA) team of experts began examining Japan’s safety checks on idled nuclear reactors. Tokyo wants an international seal of approval for the energy-hungry country’s nuclear... [more]
A Japan Airlines flight bound for Sydney was forced to turn back after takeoff when a business class passenger seat caught fire, according to reports. The small fire was apparently caused by a cigarette lighter — although the airline said it has not yet identified who it belonged to, according to the Kyodo News and Jiji Press news agencies. The Boeing 777, carrying 260 passengers and crew members, took off from Narita airport... [more]
Newspaper polls show Japanese Prime Minister Yoshihiko Noda’s Cabinet reshufflehas failed to lift public support. Polls published Sunday showed support for Noda and his new Cabinet was flat to slightly down from before Friday’s reshuffle. The approval rating in the Nikkei business daily poll was 37 percent, up one-tenth a percentage pointfrom December, with disapproval unchanged. The Yomiuri and the Asahi said approvals dipped... [more]
Japan’s prime minister, attempting to build support for painful fiscal reforms, said Saturday that the country should be alarmed by ratings cuts in Europe and must tackle its massive public debts to avoid becoming the next target. Japan’s debt is more than twice its gross domestic product, higher than any of the struggling European economies whose fiscal problems have set off a eurozone crisis that has reverberated in markets... [more]
A Japanese banker who is a key figure in the Olympus accounting fraud came into public view for the first time since the scandal broke, appearing on Friday at his divorce hearing in a Florida court. Hajime “Jim” Sagawa ran a U.S. investment firm that earned a massive $687 million fee for advising Olympus in a 2008 acquisition deal that ranks as the largest advisory payment in history. Olympus has admitted the deal along with... [more]
THE Australian dollar fell almost one US cent on growing concerns around the eurozone. At 12pm AEDT today, the local currency was at 100.55 US cents, down from 101.50 yesterday afternoon. IG Markets institutional trader Chris Weston said the Australian dollar was shaped by a drop in other currencies due to growing eurozone uncertainty. “Price action on the Aussie dollar is just mirroring what we’re seeing with the euro, which... [more]
