Germany's finance minister warned Greece that any new government must respect commitments made by its predecessor, as the country moved closer to early elections that EU officials fear would be won by a radical leftist party.
Wolfgang Schaeuble spoke after German lawmakers last week backed plans to give troubled Greece a two-month loan extension while international creditors finish an audit to determine the release of its next 7.0 billion euros ($8.7 billion).
Full StoryThe consortium expanding the Panama Canal is making fresh claims for cost overruns totaling $737 million, officials said Friday.
Canal administrator Jorge Quijano told reporters that the Panama Canal Authority had received two claims on Tuesday that "will be evaluated" to determine if there is probable cause.
Full StorySpain's Prime Minister Mariano Rajoy promised Friday the country's economy would "take off" again in 2015 but opponents branded his optimism "indecent" with many Spaniards still suffering from cutbacks.
After a gradual return to growth, "2014 has been the year of recovery and 2015 will be the year when our economy really takes off," Rajoy told a news conference.
Full StoryConstruction on a massive new international passenger airport in Beijing began Friday, state media reported, as booming demand for travel to and from China stretches the capacity of existing facilities.
Beijing's current international airport is the world's second busiest, but also one of the most delayed, with fewer than 20 percent of commercial passenger flights leaving on schedule according to a 2013 report.
Full StoryJapan Post on Friday confirmed a long-awaited plan to list its shares in Tokyo with the government-owned firm set for what could be one of the world's biggest share sales.
The parent company, along with its insurance and banking units, would launch an initial public offering in the middle of the 2015 fiscal year, which begins in April, but executives declined to comment on the size of the initial sale.
Full StoryOil prices rose in Asia Friday as dealers reacted to a surprise Islamist attack on Libya's main oil terminals that left 22 soldiers dead.
US benchmark West Texas Intermediate for February delivery rose 28 cents to $56.12 in mid-morning trade, while Brent for February gained 13 cents to $60.37.
Full StoryChina tied the restive far-western region of Xinjiang closer to the rest of the country Friday, opening a high-speed rail line between its capital Urumqi and Lanzhou, in neighboring Gansu, nearly 1,800 kilometers away.
A slick bullet train took off from Lanzhou West Railway Station at 10:49 am (0249 GMT), with female attendants in Uighur and other ethnic costumes serving 622 passengers, live footage on state broadcaster China Central Television (CCTV) showed.
Full StorySaudi Arabia, the world's largest crude exporter, on Thursday announced a 2015 budget with a huge $38.6 billion deficit due to the sharp decline in oil prices but still raised spending.
A statement read on state-run television after a cabinet session said spending for 2015 is projected at 860 billion riyals ($229.3 billion) and revenues at 715 billion riyals ($190.7 billion).
Full StoryThe plunge of the ruble hasn't left only Russians shell shocked -- foreign workers from traders to maids are considering bailing out as Moscow turns from an El Dorado into a financial black hole.
The phenomenon is not quantifiable nor is there anything to indicate an exodus of expatriates is under way, but many admit to considering whether it is time to leave Russia after the ruble shed a quarter of its value in a couple of days last week.
Full StoryRamon Holgado used to sleep outside in a cardboard box, but he is back on his feet this Christmas -- guiding homeless-themed tours of the Barcelona streets he lived rough in.
As well as filling them in on the history and showing them some nice views, Holgado, 64, gives visitors an insight into the poverty that has ravaged the Catalonian capital since the economic crisis struck.
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