German Chancellor Angela Merkel will call on the country's parliament to approve a third bailout for debt-mired Greece on Wednesday, but could face a rebellion from lawmakers within her own conservative ranks.
Approval of the latest 86 billion euro ($95 billion) emergency rescue plan for Athens is seen as assured given the 504 seats Merkel's left-right "grand coalition" holds in the 631-seat Bundestag lower house.Full Story
China has injected nearly $100 billion from its foreign exchange reserves into two policy banks, which lend based on government directives, to help spur the country's sluggish economy, state media reported.
The central bank on Tuesday completed putting $48 billion into the China Development Bank and $45 billion into the Export-Import Bank of China, the official Xinhua news agency reported.Full Story
Oil prices fell in Asia Wednesday, giving up meagre gains in the previous session as investors await a U.S. inventory report to gauge demand in the world's top economy.
U.S. benchmark West Texas Intermediate for September delivery fell 24 cents to $42.38 a barrel and Brent crude for October dipped 26 cents to $48.55 a barrel in afternoon Asian trade.Full Story
A fraud probe into former IMF head Rodrigo Rato, which has embarrassed Spain's conservative government, made headlines again Tuesday following the arrest of a suspect in the case as he was about to board a plane for Mexico.
Rato, a former finance minister with the ruling Popular Party, has become a symbol of corruption among Spain's elites which has fuelled the rise of new parties ahead of a general election later this year.Full Story
The Greek government on Tuesday approved a 1.23 billion euro ($1.36 billion) deal for Germany's Fraport-Slentel consortium to run 14 regional airports, publishing the decision in its official gazette.
The concessions, ranging in duration from 40 to 50 years, had been approved by the previous Greek government but were put on hold after the far-left Syriza party of Prime Minister Alexis Tsipras came to power in January.Full Story
German Chancellor Angela Merkel insists the International Monetary Fund must participate in Greece's new bailout, but doubts about IMF involvement are complicating her bid to sell MPs the deal ahead of Wednesday's key parliamentary vote.
Monday's front page of mass-circulation daily Bild accused Merkel of breaking her promise that the IMF would be party to the new 86 billion euro ($95 billion) Greek bailout approved by eurozone finance ministers Friday.Full Story
Oil prices slipped further in Asia Tuesday, weighed down by a strengthening dollar as concerns about weakening demand in China added to expectations a global oversupply will last for years.
U.S. benchmark West Texas Intermediate for September delivery was down seven cents to $41.80 in late-morning trade. WTI has lost more than 30 percent in the past two months, bringing it to the lowest level since March 2009.Full Story
Canada's Brookfield Infrastructure Partners on Tuesday said it hopes to use its U.S.$6.6 billion purchase for Australian ports and rail operator Asciano to expand further in the region.
The cash and stock transaction is the Canadian asset manager's largest takeover, adding Asciano's Australian container terminals to Brookfield's hubs in North America and Europe.Full Story
Turkey's embattled lira hit a new historic low in value against the dollar Monday as investors took fright at ongoing political uncertainty and the prospect of early elections.
The lira slid to a new low of 2.862 to the dollar, losing 1.06 percent on the day.Full Story
A Greek minister indicates it is highly likely Prime Minister Alexis Tsipras will call for a vote of confidence in his government after a bailout deal with foreign creditors sparked a rebellion within his governing Syriza party.
Energy and Environment Minister Panos Skourletis told private Skai television Monday that he feels the move is "self-evident" following last week's parliamentary vote on the bailout, which passed thanks to opposition parties' support.Full Story