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(MENAFN - AFP) The EU agreed new sanctions against Russian-annexed Crimea Thursday to show resolve against Moscow as European leaders prepared to discuss Russia's spiralling financial crisis amid fears of the impact on their economies.

The leaders meeting at a summit in Brussels will also back a huge 315-billion-euro ($380-billion) investment plan aimed at kickstarting Europe's ...

(MENAFN - AFP) President Vladimir Putin vowed on Thursday that Russia would rapidly recover from its financial crisis and said his grip on power was firm, even as new Western sanctions and a run on the ruble pile on the pressure.

The Russian leader, who is locked in a confrontation with the West, showed no willingness to change tack on Ukraine and dismissed the possibility ...

(MENAFN - AFP) British Airways owner International Airlines Group revealed Thursday that it had made an informal takeover approach for Aer Lingus, but added that the Irish carrier had rejected its proposal.

"International Consolidated Airlines Group notes the recent movement in the share price of Aer Lingus and confirms it submitted a proposal to make an offer for the company, ...

(MENAFN - AFP) Sports car maker Spyker on Thursday declared bankruptcy, with the small Dutch company that once competed in Formula 1 saying it could not stay afloat after losing a critical legal battle.

The founder of the one-time owner of Sweden's Saab vowed that the bankruptcy was not the end for the company which would return with revolutionary electric cars.

"Today ...

(MENAFN - AFP) Global stock markets surged in a "Santa Claus rally" on Thursday as dealers welcomed the outcome of the US Federal Reserve meeting which signalled an interest rate increase was not imminent.

Oil prices also rose strongly after recent volatility, while the euro fell to $1.2275 from $1.2343 late on Wednesday in New York.

In mid-afternoon trading, London's ...

(MENAFN - AFP) US stocks powered higher in early trade Thursday, joining a surge in European markets amid rising oil prices and improved sentiment following Wednesday's Federal Reserve meeting.

About 30 minutes into trade, the Dow Jones Industrial Average stood at 17,605.59, up 248.72 points (1.43 percent).

The broad-based S&P 500 jumped 29.32 (1.46 percent) to ...

(MENAFN - AFP) The EU imposed additional sanctions Thursday on Crimea, banning all investment and restricting trade to force home the message the bloc will not recognise Russia's "illegal annexation" of Ukraine territory.

"The annexation is illegal and what we are doing is part of the non-recognition" policy, European Commission spokeswoman Maja Kocijancic said, calling on ...

(MENAFN - AFP) Johann-Dietrich Woerner, head of German aerospace giant DLR, is to succeed Frenchman Jean-Jacques Dordain as next director-general of the European Space Agency, ESA announced on Thursday.

Woerner, 60, will start the four-year term on July 1, the agency said, quoting a decision by ESA's ruling body.

ESA traces its roots back 50 years with the foundation ...

(MENAFN - AFP) Airbnb and Amsterdam said on Thursday they had reached a deal for the online lodging site to collect tourist tax on behalf of the city, the first such agreement in Europe.

The deal will "simplify the payment of tourist tax by collecting and remitting these taxes on behalf of hosts," the company said in a statement.

The agreement follows criticism from ...

(MENAFN - AFP) Switzerland on Thursday cut its growth forecast for 2015 as a recovery in the eurozone turns out to be more sluggish than earlier thought.

The national statistics agency said it still expects Swiss output to expand by 1.8 percent this year.

But the State Secretariat for Economic Affairs, or SECO said growth for 2015 would be at 2.1 percent rather than ...

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