MILAN/ROME - Italy is again flirting with economic disaster, Prime Minister Mario Monti said, as huge crowds massed in Rome in protest at his austerity measures a day ahead of an election in Greece that threatens to destabilise the whole eurozone.
MILAN/ROME - Italy is again flirting with economic disaster, Prime Minister Mario Monti said, as huge crowds massed in Rome in protest at his austerity measures a day ahead of an election in Greece that threatens to destabilise the whole eurozone.
LONDON - The dissolution of the Egyptian parliament elected after last year’s overthrow of veteran president Hosni Mubarak has alarmed investors who fear the country will now hurtle towards a balance of payments crisis and currency collapse.
HONG KONG - Private equity firm Abraaj Capital will sell 434.7 million shares in Malaysian firm IHH Healthcare’s planned $2 billion IPO in Kuala Lumpur and Singapore, accounting for 20 per cent of the total stock on offer, according to a term sheet of the deal.
India’s fast-growing low-cost carrier IndiGo has announced the launch of five new daily direct flights connecting Dubai and Bangkok with Chennai, Hyderabad, Kochi and Delhi from August.
Europe’s leaders are doing too little too late to solve the region’s debilitating sovereign debt crisis and must act quickly, World Bank chief Robert Zoellick said in an interview released on Sunday.
The plodding US economy, meager job growth and market tensions over Europe’s debt crisis will hang over Federal Reserve policymakers when they meet next week.
US stocks rallied on Friday to close a second straight week of gains on hopes of collective action from global central banks if Sunday’s election in Greece triggers market turmoil.
Gold rose on Friday for a sixth consecutive session as investors bet on additional stimulus by central banks and hedged against economic uncertainty ahead of key Greek elections on Sunday.
World equity markets rose on Friday as investor fears of euro zone turmoil following Greek elections this weekend were offset by talk the world’s major central banks stand ready to make a coordinated response to ease any market dislocation.
Urgent messages flashed on cellphones, email alerts popped up and telephones rang for a team at asset manager Legg Mason. Dial in to a conference now, the 30-strong enterprise risk management team was told. A major event is underway.