As Greece pleads for a short-term bailout extension to avert a midnight default, a U.S. analyst says Germany must urge the IMF to offer some sort of face-saving measure for Greece or risk further economic fallout.
The Zimbabwean dollar is demonetised as the country switches fully to using the U.S. dollar as its currency.
Nigerian analyst, Bismark Rewane weighs in on the recently signed agreement by representatives from 25 African nations to create a free-trade zone linking three economic blocs that would unite 57 percent of the continent’s population. The deal would combine the Common Market for Eastern and Southern Africa (COMESA), the South African Development Community (SADC), and the East African Community (EAC).
Severe fuel shortages in Nigeria hit the services of Africa’s largest mobile telecoms operator, MTN, and force Guaranty Trust Bank to close its branches nationwide at lunchtime, the companies say.
Greek Finance Minister Yanis Varoufakis says it would be “catastrophic” if Greece left the euro, predicting it would herald “the beginning of the end of the common currency project”.
(REUTERS) – Carlson Chuen is only two years old, and he’s preparing for an important interview.
His mother wants him to get into one of Hong Kong’s top kindergartens to get a head start in life.
(REUTERS) – Getting fuel in one of the world’s oil-richest countries.
It’s a lengthy business.
(REUTERS / ITALIAN PARLIAMENT TV) – A shining testament to Italy’s economic recovery – though not for everyone.
The long-awaited Milan Expo opens its doors.
A six-month exhibition of technology and know-how with a focus on sustainable food development.
Some 20 million people are expected to visit over the next six months.
But here: those who see the millions spent on it as wasteful and riddled with corruption.
(Reuters Business Report) – Few people have much sympathy for the mining companies.
Environmentally damaging, polluting, and hugely profitable, finding friends is no easy task.
BUT they also employ millions of people.
Most of them in developing countries, and often poorly paid.
(BVO , NVO) – European Central Bank president Mario Draghi got the surprise of his life on Wednesday, when a woman in a black T-shirt jumped on his desk shouting ‘End the ECB dictatorship’. She also threw confetti over his head.
The news conference in Frankfurt was briefly adjourned as the woman was carried from the room.