Tuesday, July 7th 2015 - 10:00 UTC

Chinese markets volatility continue despite government measures

Shanghai Composite Index has tumbled by nearly 30% since a peak on June 12. Stock declines were seen to be linked to new margin-trading restrictions.

Chinese stocks plunged Tuesday after mixed fortunes Monday, with the benchmark Shanghai Composite Index tumbling 3.2% at opening. The Shenzhen Component Index also opened 3.4% lower and the ChiNext Index, tracking growth enterprises, opened 3.8% lower.

Tuesday, July 7th 2015 - 08:06 UTC

Pope said Mass to 650.000 people and centered the homily on the family theme

Tens of thousands of people lined the route from the airport, at times rushing police to touch the car and throw flower petals before it.

Pope Francis said Mass for more than 650.000 Ecuadoreans and hinted he wanted a major Vatican gathering this year to find ways to reach out to Catholics who feel excluded by the Church. On the first full day of a three-nation “homecoming” trip to South America, the Argentine-born pontiff was in Ecuador's second city Guayaquil, a steamy port sometimes referred to as the world's “banana capital,” given its bustling fruit trade.

Tuesday, July 7th 2015 - 07:21 UTC

Merkel and Hollande tell Greece the door for serious proposals remains open

In Paris Merkel and Hollande said Athens must move quickly if it wants to secure a cash-for-reform deal with international creditors (Pic AFP)

France and Germany told Greece to come up with serious proposals in order to restart financial aid talks, raising pressure on Prime Minister Alexis Tsipras to compromise a day after his country voted overwhelmingly against more austerity

Tuesday, July 7th 2015 - 07:11 UTC

New Greek finance minister, Oxford educated but equally hard line

Dutch born Tsakalotos, Oxford University-educated economics professor served as international economic affairs minister before taking over from Varoufakis

New Greek Finance Minister Euclid Tsakalotos may be less flamboyant than his predecessor Yanis Varoufakis, but his views on his country's debt crisis are no less stridently held. While most commentators appear to agree that Mr Tsakalotos, 55, will be less bombastic than Mr Varoufakis in his dealings with international creditors, some argue that his negotiating stance could even be more hard line.

Tuesday, July 7th 2015 - 07:01 UTC

Greek finance minister ousted because he favored a 'parallel currency'

“If necessary, we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago,” said Yanis Varoufakis

Yanis Varoufakis, who was Greece's finance minister until Monday morning, was reportedly pushed from his job after he told a journalist that Greece could introduce a parallel currency in the weeks ahead. Cash is flooding out of Greek banks at the moment, and the government desperately needs money to make payments due later this month.

Tuesday, July 7th 2015 - 05:50 UTC

Falklands' competitors win three medals in Islands Games at Jersey

Proud Falklands competitors Dave Peck, Mark Lewis and Graham Didlick won silver medals (Pic C. Eynon by PN)

Falklands competitors took home 2 silvers and 1 bronze medal which they won at the 16th International Island Games which were held on the Channel Island of Jersey. The Falklands football team also retained the ‘Small Islands Cup’ which they won in Bermuda 2 years ago, beating the Norwegian island of Hitra 2-1.

Monday, July 6th 2015 - 08:49 UTC

Uruguay looking to increase trade and investments with India

President Tabare Vazquez is planning to visit India next year. Despite potential trade between Uruguay and India is minimal

Uruguay's president Tabare Vazquez is planning to visit India next year, while foreign minister Rodolfo Nin Novoa is scheduled to attend the India-Latin-American conference next October. The move is seen as an effort by Uruguay to increase its trade opportunities and access new markets, given the current difficulties to forge an agreement with the European Union.

Monday, July 6th 2015 - 08:46 UTC

Shanghai Composite picking up strongly as fund managers buy stocks

The Shanghai Composite was up 2.6% to 3,783.69 after the government announced measures over the weekend to stabilize the tumbling stock markets.

Mainland Chinese shares surged nearly 8% on Monday despite the rest of Asian markets trading lower on Greece's rejection of austerity demands. The Shanghai Composite was up 2.6% to 3,783.69 after the government announced measures over the weekend to stabilize the tumbling stock markets.

Monday, July 6th 2015 - 07:55 UTC

Francis in Ecuador repeats call 'to hear the cry of the earth and the cry of the poor'

“I thank God for having allowed me to return to Latin America and to be here with you today in this beautiful land of Ecuador”

Francis landed in Ecuador's capital Quito on Sunday to begin an eight-day tour of South America that will also include visits to Bolivia and Paraguay. On his first visit as pontiff to Latin America, the Argentina-born pope is scheduled to conduct masses in both Quito and the coastal city of Guayaquil before flying to Bolivia on Wednesday.

Monday, July 6th 2015 - 07:34 UTC

Euro zone to hold emergency summit to discuss Greek referendum 'no'

Commission president Juncker will hold a teleconference on Monday with European Central Bank chief Mario Draghi, Tusk and Dijsselbloem

Euro-zone nations will hold an emergency summit on Tuesday to discuss the Greek referendum “No” result after the German and French leaders called for a meeting, EU president Donald Tusk said. The special meeting comes as Brussels reels with the implications of what the head of the Euro-group of finance ministers from the 19-country block, Jeroen Dijsselbloem, called a “very regrettable” decision.


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