Thursday 31 July 2014
 
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Bailout

IMF agrees $14-18 billion bailout for Ukraine

The International Monetary Fund has agreed a $14-18 billion two-year bailout for Ukraine, a deal to help it recover from months of turmoil that will also unlock further credits making a total of $27 billion. The agreement, announc

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Gulf Air overhaul 'cuts losses to $234 million'

Gulf Air, the national carrier of Bahrain, has reduced losses to BD90 million ($237.4 million) so far this year by implementing a radical cost-cutting exercise, a top government official said. This compares with annual losses of B

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EU ministers to set bank bailout rules

Euro zone finance ministers are set to decide when and how their bailout fund can invest in a bank to save it from failure, a long-promised move that aims to break a downward spiral between bad banks and their in

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Blame the Euro, not Cyprus

Co-CEO and co-founder of Saxo Bank, Lars Seier Christensen believes that the real problem is not Cyprus, it is the Euro, as he has written in his latest blog post. After a few disturbing weeks, I would like to wrap up my comments

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Kuwait debtors' bailout to cost $2.6bn

  A government bailout of Kuwaiti debtors is expected to cost 744 million dinars ($2.61 billion), finance minister Mustapha Al-Shamali said on Tuesday.   The government, under pressure from members

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Cyprus rules out leaving Euro zone

The president of Cyprus yesterday said the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island&

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Cyprus reopens banks under tight curbs

  Cypriots banks reopen on Thursday with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the country from going bankrupt.

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Money fled Cyprus as president fumbled bailout

  As new President Nicos Anastasiades hesitated over an EU bailout that has wrecked Cyprus's offshore financial haven status, money was oozing out of his country's closed banks.   In banknot

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Cyprus seeks 11th-hour deal to avert financial collapse

Cypriot President Nicos Anastasiades flies to Brussels on Sunday to seek an 11th-hour reprieve from financial meltdown, with a bailout from the European Union and the island's place in Europe's single currency bloc hanging in the balance

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Crisis-hit Cyprus weighs big bank levy

Cyprus said on Saturday it was looking at seizing a quarter of the value of big deposits at its largest bank as it races to raise the funds for a bailout from the European Union and avert financial collapse. Banks in the debt-hit nation

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