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(MENAFN - AFP) Fitch ratings agency said Tuesday it now considers Ukraine to be in partial default after it failed to make payment on bonds the country has been trying to restructure with its creditors.

"Fitch... judges Ukraine to be in default on its sovereign eurobond obligations" after not having made payment following a 10-day grace period on $500 million in bonds, the ...

(MENAFN - AFP) Facebook and other Internet giants could be barred from sending European citizens' personal information to the US after the EU's top court on Tuesday struck down a key transatlantic data deal in the wake of the Edward Snowden scandal.

The landmark verdict stemmed from a case lodged by Austrian law student Max Schrems, who challenged the "Safe Harbour" agreement ...

(MENAFN - AFP) European stock markets on Tuesday shrugged off signals the German economy may be slowing to build on hefty gains won in the previous session.

London's benchmark FTSE 100 index of top companies ended the day 0.43 percent higher at 6,326.16 points, while in the eurozone Paris' CAC 40 index climbed 0.95 percent to 4,660.64 and Frankfurt's DAX 30 rose 0.90 percent ...

(MENAFN - AFP) Crowded airports, long security lines and flight delays. Flying today is not the most pleasant experience, and Karl Lagerfeld thinks those travelling on Chanel Airlines deserve a touch more glamour.

The indefatigable 82-year-old fashion legend on Tuesday turned Paris's glass-roofed Grand Palais exhibition hall into a massive departure lounge when he unveiled ...

(MENAFN - AFP) Residents of the sub-Arctic village of Umiujaq wistfully remember the good old days, when the ice-fishing season was long and the catch bountiful.

That was before the effects of climate change, the most recent in a long of list of threats to the Inuit way of life, started hitting home.

Already assailed by decades of imposed cultural and social changes, ...

(MENAFN - AFP) Six financial brokers were "willing and enthusiastic" players in a conspiracy to fix the Libor benchmark interest rate, prosecutors said as their trial opened on Tuesday.

The men, known by nicknames including "Lord Libor" and "Big Nose", acted to "corrupt a process that should not have been corrupted", London's Southwark Crown Court heard.

They are charged ...

(MENAFN - AFP) From booking a holiday to something as basic as buying bread or cooking oil, the crisis in emerging markets has gripped many aspects of people's lives.

World finance ministers gather in the Peruvian capital Lima from October 9-11 to ponder the crisis, prompted largely by a China-led commodities price crash, but people are already feeling its impact.

Four ...

(MENAFN - AFP) Iran's landmark nuclear deal will lift economic growth in the war-plagued Middle East next year as the rolling back of sanctions brings a rebound in oil exports, the IMF said Tuesday.

But the outlook for this year has worsened over the past six months, partly because of the conflicts raging in Yemen and Libya, the International Monetary Fund said in its semi-annual ...

(MENAFN - AFP) The International Monetary Fund forecast Tuesday modest economic growth in the advanced economies through next year, stronger in the United States and Britain and tentative in the eurozone and Japan.

The group of advanced economies -- which includes the US, four countries in the eurozone, Japan, Britain and Canada -- is projected to grow 2.0 percent in 2015 ...

(MENAFN - AFP) Emerging economies around the world are going through their fifth consecutive annual slowdown as prices for their raw materials exports tumble and China's voracious growth slackens, the IMF said Tuesday.

Painting a somber picture, the International Monetary Fund's global survey singled out the shift in commodities markets, as well as political tensions and ...

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