Arab Bank Plc has agreed to settle litigation brought by hundreds of Americans who accused it of facilitating militant attacks in Israel, nearly a year after a U.S. jury found the bank liable. The settlement was confirmed on Friday by Michael Elsner, a lawyer for the plaintiffs, and a...
Asian shares gained on Tuesday, taking heart from Nasdaq's fresh high, while gold prices took back some lost ground after plunging more than 4 percent to five-year lows in the previous session. Financial spreadbetters predicted Britain's FTSE 100 .FTSE to open about 12 points...
n">Wall Street was little changed on Monday, as a better-than-expected start to corporate earnings season boosted investor confidence, but gains were curbed by a drop in commodities. The Dow Jones industrial average .DJI rose 13.36 points, or 0.07 percent, to 18,099.81, the...
Athens (AFP) - Greek banks reopened Monday after a three-week shutdown imposed to stop a run on ATMs from crashing the financial system, but citizens woke up to widespread price hikes as part of a cash-for-reform deal with the country's creditors. The bank shutdown since June 29 is...
Greece's leftwing Prime Minister Alexis Tsipras faces a showdown with rebels in his own party on Tuesday furious at his capitulation to German demands for one of the most sweeping austerity packages ever demanded of a euro zone government. Just hours after a deal that saw Greece...
Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euro bailout to keep the near-bankrupt country in the single currency. Just hours after the deal was settled in marathon all-night...
Euro zone leaders argued late into the night with near-bankrupt Greece at an emergency summit, demanding that Athens enact key reforms this week to restore trust before they will open talks on a financial rescue to keep it in the European currency area. Leftist Prime Minister...
Skeptical euro zone finance ministers demanded on Saturday that Greece go beyond painful austerity measures accepted by Prime Minister Alexis Tsipras if he wants them to open negotiations on a third bailout for his bankrupt country to keep it in the euro. Ministers lined up to...
The European Union's chairman joined growing international calls for Greece to be granted debt restructuring as part of any new loan deal if it delivers convincing reforms to avert imminent bankruptcy. The call was an implicit challenge to Germany, Athens' biggest creditor,...
Syrian President Bashar al-Assad signed a law ratifying a $1 billion credit line from top regional ally Iran, Syria's state news agency SANA said on Wednesday, funds which will help ease economic strains from the costly war. The agreement was between two state-owned banks, the...
Euro zone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin. "The stark reality is that we have only five days left...
Greece's outspoken finance minister resigned on Monday, removing a major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Yanis Varoufakis, a self-proclaimed "erratic...
Greece will introduce capital controls and keep its banks closed on Monday after international creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff to a dangerous new level. The Athens stock exchange will also be closed as the...
Oil prices fell on Friday as investors awaited the outcome of Iranian nuclear talks which could lead to a big increase in Iranian crude exports at a time when the market is already over-supplied. Dealers also kept an eye on negotiations to try to avert a Greek debt default and avoid Greece's...
Disruption of fuel supplies due to fighting between rebel groups in northern Syria is threatening the closure of hospitals and paralyzing the work of ambulances and rescue services, an international medical charity said Sunday. ISIS militants have closed a checkpoint under their control in the...
Russia will begin importing Iranian oil under a long-heralded oil-for-goods barter arrangement in the coming week, Iran's oil minister was quoted as saying, more than a year after negotiations began. The Kremlin announced in April it had begun to implement the deal, in which Iran would...
Libyan state oil company NOC is delivering petrol to a western region opposing a self-declared government in charge of the Tripoli capital, it said in a bid to showcase its impartiality in a power struggle dividing the country. The member of the Organization of Petroleum Exporting Countries...
Greece delayed repayment of an IMF loan on Friday and a deputy minister said Athens might call snap elections to break an impasse with lenders that threatens to push the country into bankruptcy and out of the euro. European stocks fell and Greek bond yields shot higher as investors worried...
Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian Oil...
With most of its natural and mineral resources having fallen under rebel control, Syrian state revenues have shrunk, leaving the government dependent on unstable sources of income for its survival. Four years of conflict have decimated the state coffers. Now the government’s only...
