Public Finance
Cyprus MPs study bailout 'Plan B' as meltdown looms
Mar 22, 2013 04:39 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
Cyprus' Sarris leaves Russia without deal
Mar 22, 2013 04:20 EDT
Cypriot Finance Minister Michalis Sarris left Moscow on Friday after two days of talks aimed at securing a financial lifeline from Russia without reaching an agreement.
Congress OKs stopgap, broader budget battle begins
Mar 22, 2013 02:35 EDT
American lawmakers averted a feared government shutdown by approving a stopgap spending bill, but heated debate over future federal spending took shape as they clashed over budget plans.
US officials say China 'cooperative' on N.Korea sanctions
Mar 22, 2013 02:06 EDT
US officials involved in enforcing international sanctions against North Korea expressed optimism on Friday that China was willing to cooperate to disrupt financing for Pyongyang's nuclear and missile programmes.
Singapore denies being haven for Malaysian tax cheats
Mar 22, 2013 01:56 EDT
Singapore on Friday strongly rejected a whistleblower's allegation that its banks facilitate massive tax evasion by a powerful family in neighbouring Malaysia's Sarawak state.
Japan deputy PM to visit China next month
Mar 22, 2013 00:04 EDT
Japan will send Deputy Prime Minister Taro Aso to China next month in what would be the first high-level meeting of the Asian powers' new governments amid diplomatic tensions, a report said on Friday.
Cyprus launches banking overhaul as meltdown looms
Mar 21, 2013 23:17 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
Congress OKs stopgap, broader budget battle begins
Mar 21, 2013 22:00 EDT
US lawmakers approved a funding stopgap Thursday that prevents a government shutdown, but their clash over budget blueprints signaled a contentious debate over the future of federal spending.
IMF urges Iraq to bolster non-oil sector
Mar 21, 2013 18:19 EDT
The IMF forecast Thursday that Iraq's economy would grow around nine percent this year helped by surging oil production, but said Baghdad needs to do more to support private, non-oil business.
S&P cuts Cyprus rating as banking meltdown looms
Mar 21, 2013 17:27 EDT
Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.
Congress OKs budget stopgap, broader battle begins
Mar 21, 2013 17:11 EDT
US lawmakers approved a funding stopgap on Thursday to keep the US government operating through September and took a step towards adopting a blueprint for a decade of budget austerity.
US stocks drop on Cyprus, weak earnings
Mar 21, 2013 16:54 EDT
US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.
S&P cuts Cyprus rating one notch to 'CCC'
Mar 21, 2013 16:24 EDT
Ratings firm Standard & Poor's cut troubled Cyprus' sovereign credit rating by one notch on Thursday citing "acute problems" in Cyprus's banking sector.
Canada cuts growth forecast
Mar 21, 2013 16:21 EDT
Canada's finance minister unveiled a no-frills budget on Thursday that aims for a return to black in 2015 despite a lower economic growth forecast of 1.6 percent for this year.
Overhaul of Cyprus banks on cards as meltdown looms
Mar 21, 2013 14:24 EDT
Cyprus Thursday was examining an overhaul of its banking sector to avoid financial meltdown after the European Central Bank threatened to pull the plug on emergency funding for the island's banks.
Cyprus brinksmanship could spin out of control: analysts
Mar 21, 2013 13:41 EDT
As the EU raised the spectre of a eurozone exit for Cyprus, experts warned on Thursday of the consequences of brinksmanship from Brussels to Moscow in the race to fix new bailout terms.
Official clears Indian banks of money-laundering
Mar 21, 2013 13:31 EDT
A senior Indian central bank official cleared three private banks of money-laundering on Thursday after an undercover media investigation led to the suspension of dozens of their employees.
European stocks retreat on disappointing data, Cyprus
Mar 21, 2013 13:17 EDT
European stock markets slid Thursday as disappointing eurozone data and the Cyprus bailout impasse overshadowed strong Chinese economic performance.
Spanish banks see profits after 'horrific' 2012
Mar 21, 2013 13:15 EDT
Spain's battered banks predicted Thursday they will turn a profit this year after a "horrific" 2012 in which the overall industry recorded losses for the first time in its history.
Irish economy grows by 0.9% in 2012: official data
Mar 21, 2013 12:32 EDT
Ireland's bailed-out economy grew by 0.9 percent in 2012 but stagnated in the final quarter of the year, official data for the troubled eurozone nation showed on Thursday.
