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Parties supporting a bailout saving Greece from bankruptcy won a slim parliamentary majority on Sunday, beating radical leftists who rejected austerity and bringing relief to the euro zone which was braced for fresh financial turmoil.
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Barack Obama heads to the G-20 summit on Sunday, in the knowledge that his presidency may depend on swift, sweeping action by his European counterparts to contain their financial contagion.
Microsoft is gearing up to unveil its own tablet to boost its new Windows 8 operating system and counter Apple’s hot-selling iPad, according to media reports on Friday.
WASHINGTON - The International Monetary Fund has agreed that it would only draw on the $430 billion in extra resources committed by member countries to fight the global economic crisis once it has tapped existing funds.
MILAN/ROME - Italy is again flirting with economic disaster, Prime Minister Mario Monti said, as huge crowds massed in Rome in protest at his austerity measures a day ahead of an election in Greece that threatens to destabilise the whole eurozone.
LONDON - The dissolution of the Egyptian parliament elected after last year’s overthrow of veteran president Hosni Mubarak has alarmed investors who fear the country will now hurtle towards a balance of payments crisis and currency collapse.
HONG KONG - Private equity firm Abraaj Capital will sell 434.7 million shares in Malaysian firm IHH Healthcare’s planned $2 billion IPO in Kuala Lumpur and Singapore, accounting for 20 per cent of the total stock on offer, according to a term sheet of the deal.
India’s fast-growing low-cost carrier IndiGo has announced the launch of five new daily direct flights connecting Dubai and Bangkok with Chennai, Hyderabad, Kochi and Delhi from August.
Europe’s leaders are doing too little too late to solve the region’s debilitating sovereign debt crisis and must act quickly, World Bank chief Robert Zoellick said in an interview released on Sunday.
The plodding US economy, meager job growth and market tensions over Europe’s debt crisis will hang over Federal Reserve policymakers when they meet next week.