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(MENAFN - AFP) Lisbon will cut its bailout for stricken Portuguese lender Banco Espirito Santo to 3.9 billion euros thanks to contributions from the financial sector, Finance Minister Maria Luis Albuquerque said Thursday.

The state had initially pledged 4.4 billion euros ($5.9 billion) in aid as part of a 4.9 billion euro rescue package for BES announced on Sunday in a bid ...

(MENAFN - AFP) The World Trade Organization on Thursday upheld its ruling that China had violated global trade rules by restricting exports of rare earths, used in hi-tech goods like mobile phones and televisions.

Beijing had appealed a decision by a WTO panel in March that its use of export duties, quotas and control over who could export the metals had skewed global commerce.

That ...

(MENAFN - AFP) Britain said Thursday it has committed a further $5 million to help the beleaguered health systems in Sierra Leone and Liberia to fight the spread of Ebola which has killed nearly 1,000 people.

The new package, worth £3.0 million or 3.8 million euros, will allow the World Health Organization, the Red Cross and UNICEF to increase specialist care and improve ...

(MENAFN - AFP) Europe's main stock markets fell on Thursday, weighed down by concerns of escalating tensions between the West and Russia, after the ECB left its monetary policy unchanged.

Frankfurt's main DAX index dropped 1.0 percent to 9,038.97 points, while in Paris the CAC 40 tumbled 1.36 percent at 4,149.83 points, compared with Wednesday's close.

London's benchmark ...

(MENAFN - AFP) The European Central Bank held eurozone interest rates unchanged, as expected, on Thursday, but kept the door open to further action and warned the region's fragile recovery could be faltering.

The ECB's decision-making governing council decided to hold the bank's main refinancing rate steady at 0.15 percent, the marginal lending rate at 0.40 percent and the ...

(MENAFN - AFP) Nigerian public sector doctors on Thursday suspended a nearly five-week long strike over an Ebola outbreak which has killed two people and infected five others in Lagos.

A statement from the National Medical Association union listed "the incursion of Ebola into Nigeria" as a main reason for suspending the strike.

The emergence of Ebola in Lagos, sub-Saharan ...

(MENAFN - AFP) Norwegian group Statoil has failed to find oil during a summer drilling campaign in the remote Norwegian Arctic, it said on Thursday dampening hopes for an oil and gas boom in these northern waters.

The state-owned company found only a small pocket of uncommercial gas at its third and last exploration well - known as the Mercury well - in the Hoop area of ...

(MENAFN - AFP) Russia retaliated against tough new Western sanctions on Thursday, banning most food imports from the United States and the European Union and threatening to block flights over its airspace.

The 28-member European Union swiftly denounced the measures - which also target Canada and Australia - and said it was ready to take action in response.

The tit-for-tat ...

(MENAFN - AFP) Europe's main stock markets were mixed on Thursday as traders weighed concerns about the impact of Russian sanctions against the West after the European Central Bank kept its key rate on hold.

In mid-afternoon trading, Frankfurt's main DAX 30 index gained 0.23 percent to 9,151.32 points while in Paris the CAC 40 index slid 0.42 percent to 4,189.42, compared ...

(MENAFN - AFP) Russia's embargo against food from the European Union will affect 10 percent of the EU's food exports and may cause a crisis of glut in Europe, industry experts said on Thursday.

The figures, at face value, mean that Russia's announcement on Thursday of a "full embargo" against EU food will deprive Russians of fresh goods in particular.

But it will also ...

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