Greece is set for elections on 20 September this year. Judge Vassiliki Thanou is the care taker Prime Minister till the new government is formed. Thanou was sworn in on last Friday and became the first female Prime Minister for Greece.
The crisis-hit European nation Greece is heading towards privatization of its energy sector. The country is also in favor of reforms in several sectors to give a new life to the ailing economy.
One can cite several reasons for the ongoing crash of equity values across the global markets. The major reason that no one can afford to avoid is Chinese factor. The slowdown in the world's second-largest economy, China's latest devaluation of its currency Yuan, drop in manufacturing output, mining companies reporting worst performance, etc, all these developments are impacting the global markets in fact all the countries including developed and emerging economies as well.
Greece's Prime Minister, Alexis Tsipras, resigned recently, triggering a snap election on September. This is just in time as the country is about to tap it new 86 billion bailout package.
The first tranche of the bailout package for Greece has been released. The European Stability Mechanism board approved the release of €26 billion ($29 billion) Wednesday after assemblies of creditor nations, including Germany, endorsed the package.
Adverse conditions in the global markets took a toll on Norway's Pension Fund, the world's largest sovereign fund, in the second quarter.
Greek is heading towards a third round of bailout package when the crisis-hit nation is about to make repayment of euro 3.2billion to the European Central Bank. The third bailout plan for ailing Greece economy is creating tremors in the European Union (EU). German's decision is crucial on Wednesday.
Puerto Rico is jacking up its sales tax in a bid to address its fiscal problems. This is considered a regressive move that could ultimately hurt the country's bottom line and its countless poor people.
Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
Based on the July jobs data, the United States may be headed for an interest rate hike, a sign the economy is in good health.
Greek government officials discussed a draft of the country's third bailout agreement drawn up on the basis of discussions with EU/IMF lenders, a government official said on Saturday, boosting hopes a deal could be wrapped up in days.
A black Monday for Greece's stock market. Its benchmark Athens Stock Exchange Index ended the day 16% lower after it re-opened for the first time in five weeks.
The slowdown in economic growth in major economies is expected to keep the stock markets under four percent annual growth in the near future. The second half of 2015 is expected to be sluggish following the bleak economy outlook for the US, EU and China.
The battle for Europe will be won or lost in Germany. On some days recently, it has looked like it might be lost. But that is to underestimate the deep German commitment to the success of European integration based on the rule of law.
The delayed talks over a third 85 billion euro bailout plan is set to take place on Tuesday. Syriza government led by Prime Minister Alexis Tsipras will hold negotiations with European troika, the tripartite committee led by the European Commission (Eurogroup), European Central Bank (ECB) and International Monetary Fund (IMF).
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