American billionaire George Soros's fund has sold most of its stake in the Chinese e-commerce giant Alibaba, according to regulatory filings Friday.
In its quarterly statement to the US Securities and Exchange Commission, Soros Funds Management said that as of June 30, it had sold all but nearly 60,000 Alibaba shares, valued at $4.88 million.Full Story
The EU said it is "entirely feasible" that eurozone finance ministers meeting in Brussels later Friday will endorse a multi-billion euro bailout deal approved by the Greek parliament.
"We are encouraged by the strong vote this morning in the Greek parliament," European Commission spokeswoman Annika Breidthardt told a press conference.Full Story
Ukraine and its biggest creditors failed to strike a deal Thursday on the second day of talks aimed at finding a workable solution for keeping the ex-Soviet country from hurtling into default.
A brief joint statement issued by Ukraine's finance ministry and the Ad-hoc Committee of Noteholders to Ukraine said the discussions were "detailed" but provided no immediate guidance as to the progress made.Full Story
Greece's parliament on Friday approved the country's third international bailout after an all-night debate, hours ahead of a critical meeting by European finance ministers.
A majority of 222 lawmakers approved the 400-page document over 64 who voted against and 11 abstentions.Full Story
Spain must stay the course on economic reforms if it wants to generate growth and reduce its sky-high unemployment rate, ahead of a year-end general election, the International Monetary Fund said Friday.
"The clearer we are in not reversing existing structural reforms and fiscal consolidation, the stronger is the defence against any external risks," said Helge Berger, chief of the IMF mission in Spain following the publication of the body's annual report on the country.Full Story
Nine major banks accused of foreign-exchange rigging have agreed to pay more than $2 billion to investors in settlements, a law firm involved in the process said Thursday.
Plaintiffs have "reached settlements totaling more than $2 billion with Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS and UBS," legal firm Hausfeld said in a statement published after a hearing in New York.Full Story
Russia on Thursday broadened a food embargo imposed in retaliation for Western sanctions over Ukraine to include Iceland, a significant fish importer, as well as Montenegro, Albania and Liechtenstein.
Prime Minister Dmitry Medvedev said Ukraine will be added to the embargo from January 1 next year when a landmark EU-Ukraine trade deal enters force, unless Kiev makes a deal with Moscow.Full Story
Lawmakers in Greece began Thursday debating a third international bailout, ahead of a vote on the 85-billion-euro ($94.8-billion) rescue package, on which eurozone finance ministers are to give their verdict Friday.
"The timetable is tight so we are forced into this emergency procedure," Gerasimos Balaouras, a lawmaker from the leftist Syriza party of Prime Minister Alexis Tsipras said, kickstarting the debate in parliamentary committees.Full Story
Are you a business owner looking to expand your enterprise, or simply an entrepreneur with an idea? Do you have a business plan you are looking to finance? There are several methods to fund your venture. A viable way is to apply for a business loan from a bank.
Banks in Lebanon offer a variety of loans to independent professionals and small businesses, which are not only vital to the national economy but are the essence and life of each and every neighborhood. New ventures equate to job creation, etc. A solid and innovative idea could get you the proper financing.Full Story
Global gold demand weakened in the second quarter as purchases fell in key consuming nations China and India, the World Gold Council said on Thursday.
"Total demand was 915 tonnes, a fall of 12 percent compared to the same period last year, due mainly to a decline in demand from consumers in India and China," the WGC said in a quarterly update.Full Story