Economy
Greek govt reaches deal with creditors: No new fiscal measures for 2015-2016
The Greek government and its creditors agreed on the primary budget targets for Greece for 2015-2018 said government sources early on Tuesday morning. The meeting was completed after 17 hours since it began at 10.30 a.m. on Monday with just a brief break to update the cabinet at a meeting chaired by Prime Minister Antonis Samaras.
Two Stabbed to Death in IKEA Store in Sweden, One Injured
A man and a woman have been stabbed to death at an IKEA store in Vasteras, in Sweden on Monday, the CNN reported.
A third person, a man, was "very seriously injured" and was sent to hospital, according to police.
A man has been arrested on suspicion of murder, police said but did not provide further details on the possible motives of the attacker.
Handelsblatt reports 3rd bailout package to Greece will 90bln Euros
The total amount for Greece’s third bailout plan could reach 90bln Euros, according to German newspaper Handelsblatt. Initial estimates had placed the funding needs of Greece for the 3rd package between 82 and 86bln Euros. The newspaper, however, citing IMF sources says the final figure will be 90bln Euros.
EU markets optimistic on deal between Greece and creditors
According to Reuters poll, 12 out of 19 European stock brokers believe a deal between Greece and its creditors is the most likely outcome within the upcoming week. The poll also revealed that the European banks will borrow 1 billion Euros less (70bln) this week from the ECB compared to last week (71bln).
Bulgargaz Plans 13.65% Cut in Q4 Gas Price
State-owned Bulgargaz said on Monday it plans to cut natural gas price for consumers by 13.65% in the fourth quarter of the year due to an expected drop in the price of gas supplies.
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Berkshire Hathaway to buy Precision Castparts for $37 billion
Warren Buffett's Berkshire Hathaway will buy Precision Castparts, a leading metal products supplier to the aerospace industry, for $37.2 billion, the companies said on Aug. 10 in a joint statement.
Reuters: 10bln Euros could be released for Greek banks before stress tests
According to Reuters news agency, Greek banks could receive a cash injection of up to 10bln Euros before the scheduled bank ‘stress tests’ are completed. The news agency cites a European Commission official, on condition of anonymity, pointing out that the Greek banks need an immediate inflow of money in order to operate smoothly.
China's Alibaba to take $4.6 bn stake in retailer Suning
Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement August 10.
Albania Plan to Raise Taxes Causes Outrage
The Ministry of Finance withdrew its proposal to tax people on low incomes on Sunday after its draft law, prepared with the advice of the International Monetary Fund, was leaked to the media and caused public uproar.
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Abraaj Group invests in Turkish medical company
The Abraaj Group, a leading investor group operating in global growth markets, has announced it acquired a stake in Yü-Ce Medical, a disposable medical supplies manufacturer in Turkey, in a written statement on Aug. 10.
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