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Russia forecasts economic slump as bailed-out bank gets more funds

Dec 27, 2014 at 02:15 | Source: FirstPost

MOSCOW (Reuters) - Slumping oil prices have put Russia's economy on course for a sharp recession and double-digit inflation next year, government ministers said on Friday, as authorities scaled up a bailout for the first bank to succumb to this month...

SpiceJet says has cleared employee salaries, fuel dues

Dec 26, 2014 at 23:33 | Source: FirstPost

NEW DELHI (Reuters) - Troubled carrier SpiceJet Ltd (SPJT.BO) has paid employees' salaries for November and cleared dues of fuel companies as of Friday, its chief operating officer said.Sanjiv Kapoor met senior officials in the aviation ministry on F...

SpiceJet clears dues of employees, fuel companies

Dec 26, 2014 at 17:53 | Source: FirstPost

New Delhi: Troubled carrier SpiceJet Ltd has paid employees' salaries for November and cleared dues of fuel companies as of Friday, its chief operating officer said.Sanjiv Kapoor met senior officials in the aviation ministry on Friday along with co-f...

Rebuilding Afghanistan: How international aid has sustained a languishing economy

Dec 24, 2014 at 18:24 | Source: FirstPost

Kabul: Afghanistan has new roads, sections of which many deem too dangerous to use. It has a turbine to fill electricity needs that remains in pieces. Sixteen transport planes given to the Air Force were scrapped having barely flown.International aid...

Greek PM hopes to avoid snap polls after improved result in parliamentary vote

Dec 24, 2014 at 16:27 | Source: FirstPost

Athens: Greek Prime Minister Antonis Samaras said on Tuesday he hoped to avoid a snap general election next year after an improved result for his candidate in the second round of a parliamentary vote to elect a new president.As expected, Greek lawmak...

Insight: A decade of Western aid in Afghanistan - mission unsustainable?

Dec 24, 2014 at 05:30 | Source: FirstPost

KABUL (Reuters) - Afghanistan has new roads, sections of which many deem too dangerous to use. It has a turbine to fill electricity needs that remains in pieces. Sixteen transport planes given to the Air Force were scrapped having barely flown.Intern...

Russia's ex-finance boss in crisis warning but rouble rallies

Dec 23, 2014 at 03:06 | Source: BBC

Russia's former finance minister has warned the country is entering a full blown economic crisis and will enter recession next year. We are entering or have already entered a full-blown economic crisis, and we're going to feel it to the ful...

Greek PM offers 2015 election once bailout talks complete

Dec 21, 2014 at 22:15 | Source: FirstPost

ATHENS (Reuters) - Greek Prime Minister Antonis Samaras offered on Sunday to bring pro-European independents into the government and hold new elections in late 2015 if lawmakers back him to elect a new president.Speaking in an unscheduled television ...

IMF, Ukraine fail to reach pact on next bailout tranche

Dec 20, 2014 at 01:30 | Source: FirstPost

WASHINGTON (Reuters) - The International Monetary Fund said Friday it had productive discussions with officials in Ukraine this week, but failed to reach an agreement that would pave the way for Kiev to receive its next bailout tranche next month.&qu...

Russia economy: What is the risk of meltdown?

Dec 17, 2014 at 21:37 | Source: BBC

Russia's Central Bank has raised interest rates to 17%, but the rouble has continued to plummet, prompting fears of economic crisis. Russians are reminded of the dark days of 1998, when President Boris Yeltsin's government defaulted on its ...

Political risks shake global markets

Dec 15, 2014 at 23:17 | Source: BBC

The big risks to markets and the global economy right now are political risks, or decisions by governments that spook investors. We saw that first thing on Tuesday, with a drop of more than 5% in the price of shares on China's Shanghai stock mar...

Ukrainian PM warns of default risk, calls for more Western help

Dec 11, 2014 at 23:30 | Source: FirstPost

KIEV (Reuters) - Ukraine risks defaulting on its debt unless Western donors come up with more funds on top of the billions of dollars of financial aid already promised, Prime Minister Arseny Yatseniuk said on Thursday.A year of revolution and war wi...

Greek shares fall for third day on election fears

Dec 11, 2014 at 22:36 | Source: BBC

Shares on the Athens Stock Exchange have fallen sharply for the third day on the risk of a snap general election in Greece. The Athens general share index fell more than 7.5% on Thursday. Greece has brought forward to this month the date of its next ...

Australian banks need more capital to avert crises, Murray report says

Dec 08, 2014 at 07:21 | Source: BBC

Australian banks need to hold more capital to be able to survive future financial crises, says a new report. There should also be minimum education standards for financial advisers, it said. The report, released on Sunday, also recommended superannua...

Stagecoach and Virgin win East Coast mainline rail franchise

Nov 27, 2014 at 16:36 | Source: BBC

A joint venture between Stagecoach and Virgin has won the franchise to run the East Coast mainline rail route. The firms promised to invest £140m in the route over eight years, and will pay the government £3.3bn for the contract. The franchise, whi...

Services shuts down across Greece amid nationwide general strike

Nov 27, 2014 at 14:34 | Source: FirstPost

Athens, Greece: A nationwide general strike to protest continued austerity measures has shut down services across Greece, grounding flights, leaving ferries tied up in ports, shutting down schools and leaving state hospitals functioning with emergenc...

Portuguese police arrest ex-PM Socrates in corruption investigation

Nov 22, 2014 at 21:30 | Source: FirstPost

LISBON (Reuters) - Portuguese police have arrested former Socialist prime minister Jose Socrates and three other people in an investigation of suspected tax fraud, corruption and money-laundering, the Prosecutor General's office said on Saturday.It s...

Airbus profits rise but more A400M problems loom

Nov 21, 2014 at 14:56 | Source: BBC

Aerospace group Airbus has posted a rise in profits for the first nine months of the year, but warned of more problems for its A400M military plane. Underlying earnings rose 12% to €2.59bn ($3.2bn; £2.1bn) for the nine-month period, with revenues ...

Carney takes aim at bankers' pay in wake of scandals

Nov 17, 2014 at 20:51 | Source: BBC

Bank of England governor Mark Carney has said it is time to look at clawing back the overall pay of bankers in the event of wrong-doing. Speaking in Singapore, he said the claw-back should cover all pay, not just bonuses. Mr Carney also said more had...

Carney puts bankers' pay in spotlight after misconduct shockwaves

Nov 17, 2014 at 16:57 | Source: BBC

In a speech in Singapore in the early hours of this morning, the Governor of the Bank of England has said it is time to look at clawing back the overall pay of bankers in the event of wrong-doing, not just the bonus element. In his first major interv...

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