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EU summit should discuss humanitarian aid for Greece: Germany

BERLIN (AFP) -- Eurozone leaders gathering for an emergency summit Tuesday should discuss humanitarian aid for the debt-mired country, German Economy Minister Sigmar Gabriel said."We must now cover their needs very quickly, the people there need help and we should not refuse it just becaus...

Updated : 2015.07.06 23:25

All eyes on ECB after Greek 'No' vote

FRANKFURT (AFP) -- All eyes turned to the European Central Bank Monday following the resounding 'No' in Greece's referendum, as it is seen as the only institution capable of stemming market panic and preventing the Greek economy from collapsing.In Sunday's referendum, more than 61 percent ...

Updated : 2015.07.06 23:24

Merkel says unaware of new EU proposal on Greece

BERLIN (AFP) - German Chancellor Angela Merkel said Tuesday she was not aware of any new EU debt deal proposal to Greece after European Commission chief Jean-Claude Juncker raised the prospect of a last-minute solution.Asked about an 11th-hour offer to Athens, Merkel told reporters: "The o...

Updated : 2015.06.30 22:17

Greece to miss IMF debt payment and bailout to expire

ATHENS (AP) - Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the country sinks deeper into a financial emergency that has forced it put a nationwide lockdown on money withdrawals.Greece owes the IMF about 1.6 billion e...

Updated : 2015.06.30 21:46

EU leaders urge Greeks to vote 'yes' to stay in euro as default nears

European leaders Monday pleaded with Greek voters to back hotly disputed bailout proposals in a crunch referendum or face leaving the euro as bank closures left many in Greece scrambling to find cash....

Updated : 2015.06.30 09:47

EU to make latest proposals on Greek crisis on Monday

The president of the European Commission will make his latest proposals later on Monday to try to avoid a Greek default, the EU commissioner of economic affairs said, adding that there was still room to negotiate over the crisis.  Jean-Claude Juncker "will indicate the route to follow, I...

Updated : 2015.06.29 15:43

57 countries hold signing ceremony to set up China-led bank

The 57 countries who are founding members of the China-led Asian Infrastructure Investment Bank began signing the articles of association setting up the new institution on Monday.  Australia became the first country to sign the document in the Great Hall of the People in Beijing, an AFP ...

Updated : 2015.06.29 13:27

Greek banks shut until July 6, ATM withdrawal limit 60 euros a day

Greek banks will remain closed until July 6 -- the day after a referendum on bailout proposals -- and ATM withdrawals will be limited to 60 euros ($65) a day in the same period, according to an official decree published early Monday.  The decree on capital controls, published in the offi...

Updated : 2015.06.29 10:38

Greece awaits European Central Bank decision on liquidity

ATHENS, Greece ― Greece was anxiously awaiting a decision Sunday by the European Central Bank on whether it will increase the emergency liquidity assistance that Greek banks can draw upon. Worried Greeks continued lining up at ATM machines Sunday morning, the day after the Prime Ministe...

Updated : 2015.06.28 21:31

Elliott 'firmly' believes Samsung merger plan unfair

U.S. hedge fund Elliott Management said Friday it still "firmly" believes a planned merger between two key Samsung Group units is not in the best interests of shareholders, continuing its tense war of nerves ahead of a crucial shareholder meeting next month.   Samsung C&T shareholders ar...

Updated : 2015.06.26 10:31

Samsung, Elliott all out to win support ahead of showdown

Samsung Group, South Korea's top conglomerate, and a U.S. hedge fund opposing the group's plan to merge its key units, are expected to ramp up their efforts to gain more support from shareholders ahead of a showdown slated for next month, industry source said Sunday. In a court battle wit...

Updated : 2015.06.21 11:54

Greek leader takes tough stance on bailout despite warnings

Greek Prime Minister Alexis Tsipras says demands by the country's rescue lenders to slash pensions are “incomprehensible” and warned that a failure in bailout talks would hurt all of Europe.His comments were made as the country's central bank warned of “dramatic” economic consequences ...

Updated : 2015.06.17 21:58

[News Focus] Out of patience, IMF flexes muscles in Greek crisis

WASHINGTON (AFP) ― The International Monetary Fund has lost patience over Greece and is making it known.The crisis lender over the past few days has publicly laid out its demands for Greece in the lo...

Updated : 2015.06.17 19:44

[Newsmaker] Clinton kicks off 2016 bid

NEW YORK ― Hillary Rodham Clinton formally kicked off her presidential campaign on Saturday with an enthusiastic embrace of her potential to become the first woman to win the White House, asking supp...

Updated : 2015.06.16 10:59

[Graphic News] Average yearly pay at big firms reaches W75.64m

Employees working at South Korean conglomerates earned an average of 75.64 million won ($67,000) last year, said Job Korea, a leading local employment website. The recruiting company collected salary ...

Updated : 2015.06.09 21:44