Far-left victory in Greece bruises European markets

European shares fell and borrowing costs for the euro zone's most indebted states rose on Monday as the leftist Syriza party looked set to take on Greece's international lenders after a crushing victory in early elections.

Africa

Madagascar needs reforms to hit 5 percent growth - IMF

Madagascar will not achieve the 5 percent growth the International Monetary Fund has projected for it this year unless it introduces reforms to boost tax revenue and improve the business climate, an IMF official told Reuters.

Oil prices fall on market relief over Saudi policy

Oil prices declined on Monday, with U.S. crude falling close to a nearly six-year low, as Saudi Arabia's new King Salman moved to assuage fears of an unstable transition and any policy change in the world's largest oil exporter.

U.S. government unveils goal to move Medicare away from fee-for-service

The Obama administration on Monday unveiled an ambitious plan to control health costs by moving the $2.9 trillion U.S. health systems away from costly fee-for-service medicine, beginning with the Medicare program for the elderly and disabled.

Obama ends day of Indian pageantry with $4 billion pledge

U.S. President Barack Obama ended a landmark day in India on Monday with a pledge of $4 billion in investments and loans, seeking to release what he called the "untapped potential" of a business and strategic partnership between the world's largest democracies.

Rock-Tenn, MeadWestvaco to merge, create packaging giant

Packaging companies Rock-Tenn Co (RKT.N) and MeadWestvaco Corp (MWV.N) agreed to form a combined $16 billion company to take on market leader International Paper Co (IP.N) in the United States and abroad.

Low prices to delay 'peak oil demand' past 2030, says BofA

The recent rout in oil prices could delay the onset of "peak oil demand," or zero global demand growth, by around five years to beyond 2030, Bank of America Merrill Lynch (BofA) said.

Microsoft profit falls on sluggish Windows, currency pressure

Microsoft Corp on Monday reported a fall in its quarterly profit that was in line with Wall Street forecasts, as sluggish personal computer sales dampened demand for Windows software and the company struggled with the impact of the strong U.S. dollar.

China trainmakers CNR, CSR clinch $7.3 billion in deals

China CNR Corp Ltd (601299.SS) (6199.HK) and CSR Corp (601766.SS) (1766.HK), China's two top trainmakers, recently signed deals worth 45.41 billion yuan ($7.26 billion) with Chinese and foreign firms.

Reinsurers Axis Capital, PartnerRe to merge in $11 billion deal

Axis Capital Holdings Ltd (AXS.N) and PartnerRe Ltd (PRE.N) have agreed to an $11 billion merger to create one of the world's largest reinsurers, PartnerRe said on Sunday.

Retreat of Russian shoppers fails to dent Dubai retailers

Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.

Cablevision to launch WiFi phone service for data-hungry users

Cablevision System Corp said on Monday it would launch in February a wireless Internet phone service to give users an alternative to pricier data plans from cellular companies such as AT&T and Verizon.

ECB's Visco says no fixed end to QE: paper

There is no fixed end to the European Central Bank's government bond-buying program, governing council member Ignazio Visco told a German paper.

Samsung Electronics to be main chip supplier for next iPhone: South Korea paper

South Korea's Samsung Electronics Co Ltd (005930.KS) will be the main supplier of processors powering Apple Inc's (AAPL.O) next iPhone, Maeil Business Newspaper reported on Monday, citing unidentified sources in the semiconductor industry.

Japan exports grow most in year, signaling steady recovery from recession

Japan's exports grew the most in a year in December, helped by a weak yen and a pick-up in overseas demand led by the United States, an encouraging sign for the recession-hit economy even as doubts persist about the strength of global consumption.

Euro, stocks slip as Greece set to reject austerity

The euro skidded to an 11-year low and stock prices fell on Monday as Greece's Syriza party promised to roll back austerity measures after sweeping to victory in a snap election, putting Athens on a collision course with international lenders.

Obama to propose protecting U.S. Arctic wildlife refuge from drilling

U.S. President Barack Obama will call on Congress to expand protection of Alaska's Arctic refuge where oil and gas drilling is prohibited to 12 million acres (5 million hectares), an area that includes 1.4 million oil-rich acres along the coast.

All eyes on Fed, Greece after ECB fires bazooka

After the surprises from central banks which rocked markets at the start of the year, the U.S. Federal Reserve will be watched as closely as ever this week to see that it doesn't stray from its own policy path.

India turns to corner shops, mobile phones for banking revolution

India is betting that mobile phone vendors, fuel stations and corner stores can help it put basic banking within the grasp of hundreds of millions of its poor people living beyond the reach of traditional bank branches.

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