Cyprus President Demetris Christofias has appointed a new Cabinet as his country engages in a fight to ward off bankruptcy. He named Kikis Kazamias as finance minister amid growing speculation that Cyprus may be forced to seek a bailout. Last week, the Moody’s credit rating agency downgraded Cypriot government bonds two levels and said the […]
US, Europe Markets Concern Spreads to Asia
Posted August 5th, 2011 at 7:45 am (UTC-5)
Asian stock markets dropped sharply Friday, following Thursday’s steep losses in the United States and Europe that were blamed on investors’ fears of another world economic downturn. Tokyo’s Nikkei index closed down 3.72 percent at its lowest level in five months, and Hong Kong’s Hang Seng plunged more than 4 percent. Some European markets showed […]
Syrians Set for First Friday of Ramadan Protests
Posted August 5th, 2011 at 7:40 am (UTC-5)
Syrians are preparing for another day of protests against President Bashar al-Assad Friday, one day after U.S. Secretary of State Hillary Clinton called for increased international pressure on his government. The plans for demonstrations come on the first Friday of the Muslim holy month of Ramadan, which has already seen days of violence in the […]
Stocks Plunge in US, Europe, Asia Amid New Worries of Global Downturn
Posted August 5th, 2011 at 7:05 am (UTC-5)
Stock markets plunged again Friday, amid new concerns that the world may be headed for another sharp economic downturn. Key European markets were as much as two percent lower at midday Friday, after falling nearly four percent Thursday. In Asia, markets fell Friday, with Tokyo’s Nikkei closing down 3.72 percent and hitting its lowest level […]
8 Killed in Ivory Coast Bus Crash
Posted August 5th, 2011 at 7:00 am (UTC-5)
A bus crash in the Ivory Coast Friday killed at least eight people. Reuters news agency says the bus struck two cars on a bridge before veering off into a lagoon in Abidjan, the capital. Rescuers have pulled some bodies and survivors from the wreckage. The cause of the crash is under investigation.
European Markets Lower at Midday
Posted August 5th, 2011 at 6:55 am (UTC-5)
European stock markets were lower in midday trading Friday. London’s Financial Times 100 index was down 2.43 percent , to 5,262. The CAC-40 in Paris was down seven-tenths of a percent , to 3,296. And the DAX in Frankfurt was down 2.13 percent , at 6,277. The S&P futures contract was down four points, indicating […]
Hundreds Arrested,Several Injured, In Education Protests Across Chile
Posted August 5th, 2011 at 6:35 am (UTC-5)
Chilean officials say more than 500 students have been arrested and 14 wounded during protests for education reform in Chile. Police on horseback used used water cannons and tear gas to break up the demonstrations in Santiago on Thursday. Students say the education system in Chile is not funded properly. The protests intensified after President […]
Asian Markets Nosedive
Posted August 5th, 2011 at 6:35 am (UTC-5)
Asian stock markets tumbled across the board Friday. Tokyo’s Nikkei index dropped 3.72 percent , to close at 9,300. Hong Kong’s Hang Seng plunged 4.29 percent , to end at 20,946. Elsewhere, share prices dropped in Shanghai, Sydney, Mumbai, Singapore, Kuala Lumpur, and Bangkok. Markets also fell in Jakarta, Wellington, Manila, Taipei and Seoul. The […]
Greek PM Wants Immediate Action on Debt Rescue
Posted August 5th, 2011 at 6:15 am (UTC-5)
The Greek prime minister urged his European partners Friday to take immediate action to enact a recent summit deal on a second bailout for Greece. George Papandreou said in a letter to European Commission President Jose Manuel Barroso that European institutions, member-states, and national parliaments should “proceed now to action.” The European Union and the […]
Israeli Police Restrict Access to Jerusalem for Ramadan
Posted August 5th, 2011 at 6:05 am (UTC-5)
Israel has tightened security in Jerusalem, restricting access to the al-Aqsa mosque on the first Friday of the Muslim holy month of Ramadan. Israeli police and border guards were deployed in the city, as thousands of Palestinians gathered to take part in Friday prayers at the mosque, Islam’s third-holiest site. Access to the complex was […]
