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Ruble Tumble Busts Russian Buying Boom in Spain

Spain was counting on rich Russians to help revive its stricken property market by buying homes on its sunny coasts -- until the ruble collapsed on falling oil prices and the Ukraine crisis.

The sharp fall of the Russian currency, driven by slumping oil prices and sanctions over Moscow's backing for separatists in Ukraine, knocked some Spanish estate agents back down just as they were staggering to their feet.

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Greece to Review Airport Privatization Deal

Greece intends to review a 1.2 billion euro ($1.36 billion) deal with Germany's Fraport to run 14 Greek airports, with a government minister saying Saturday the contract would be put on ice.

"The contract hasn't been ratified yet, and we have asked it be freezed in order to review its content," Alekos Flambouraris told Mega TV.

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Euro Dips Despite Better Eurozone Growth Data

The euro dipped against other major currencies Friday despite improved growth numbers in the ailing eurozone, as the market worries about Greece's debt crisis.

"The euro is mildly softer despite slightly better-than-expected data, and with comments from Greek and German officials signaling willingness to compromise with respect to Greece's reform, budget and debt plans," said Eric Viloria, currency strategist at Wells Fargo Securities.

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Greece, Creditors Lay Ground for Last-Ditch Meeting

Greece has begun tough negotiations with its creditors as hopes rise that a make-or-break meeting next week could reach a deal on the new government's demands to overhaul its huge international bailout.

The technical talks in Brussels Friday came a day after Greece's anti-austerity Prime Minister Alexis Tsipras laid out his plans to sceptical counterparts including German Chancellor Angela Merkel at his first European summit.

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Chinese Taxi Apps Backed by Alibaba, Tencent Announce Merger

Two popular taxi-booking apps backed by Chinese tech behemoths Alibaba and Tencent announced Saturday they would merge to create a new company reportedly valued at $6 billion.

Kuaidi Dache -- part-owned by Alibaba -- and Didi Dache -- backed by Tencent -- together control 99 percent of China's domestic market for booking taxis by smartphone, with apps developed along similar lines to San Francisco-based Uber.

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Oil Slump not Necessarily Bad News for Climate

Since the 1970s, the renewable energy sector has usually trembled each time oil goes through the "bust" phase of the commodity cycle.

When crude was dear, users became interested in wind, solar and hydro.

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ThyssenKrupp Gets Off to Good Start to Year

German heavy industry giant ThyssenKrupp said Friday it got off to a good start to the year and returned to profit in the first three months. 

ThyssenKrupp, which runs its business year from October to September, said in a statement that it swung to net profit of 50 million euros ($57 million) in the three months to December from a loss of 65 million euros a year earlier.

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Salam Launches Rural Tourism Strategy for Lebanon

Under the patronage Prime Minister, Tamam Salam, the Ministry of Tourism launched on Wednesday its new initiative, “Rural Tourism Strategy for Lebanon” at the Grand Serial and in the presence of Minister of Tourism, Michel Pharaon, Minister of Environment, Mohammad al-Machnouq, Minister of Information, Ramzi Jreij, Minister of Youth and Sports, Abdul Motleb al-Hennawi and Minister of Culture, Raymond Araiji.

Following the Lebanese national anthem and opening remarks, a short video was screened under the theme of “Live Love Lebanon,” featuring vibrant snapshots of Lebanon’s natural scenery taken by ordinary Lebanese citizens.

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Asia Markets Mostly Up on Ukraine Deal, Greece Hopes

Asian markets mostly rose Friday after European leaders and Russia agreed a plan to end Ukraine's 10-month war, while confidence Greece would reach a debt overhaul deal with its creditors boosted the euro.

The upbeat outlook for both of the crises plaguing Europe provided a catalyst for an equities rally in Europe and the United States, a mantle picked up in bourses across Asia.

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Canada Goes to WTO in China Wood Pulp Row

Canada asked the World Trade Organization on Thursday to arbitrate an ongoing trade row with China over its imposition of punitive tariffs on bleached wood pulp.

Trade Minister Ed Fast said an investigation China had carried out into Canada selling the forestry product at slashed prices was flawed, so the Asian country's reaction to restrict Canadian imports was unwarranted.

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