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(MENAFN - AFP) An Indian answer to Craigslist is drawing millions of monthly visitors to its website, exchanging everything from used iPads to cows, in a country where second-hand goods have traditionally been sniffed at.

Quikr, a start-up launched in 2008, has become the leading online classifieds portal in India, where the e-retail market is exploding thanks to a vast young ...

 
(MENAFN - AFP) ECB president Mario Draghi urged European countries Wednesday to bind themselves to structural economic reforms as another Italian, Prime Minister Matteo Renzi, leads a charge to ease EU rules.

"I believe that structural reforms in each country are enough of a common interest to justify that they are made subject to discipline at the community level," Draghi ...

 
(MENAFN - AFP) Greek lawmakers approved a controversial breakup and privatisation of the country's main electricity provider on Wednesday.

The law to break up the state-owned Public Power Corporation (PPC) by 2015 was approved by the government majority amid protests outside parliament.

The move is part of a privatisation drive required by EU states in return for multi-billion ...

 
(MENAFN - AFP) The rate on Portugal's benchmark 10-year bond rose sharply on Wednesday amid concern over one of the country's biggest banking groups, an analyst said.

In afternoon trading on secondary government debt markets, the rate, or yield reached 3.778 percent, compared with 3.648 percent at the close of trade on Tuesday.

"Portuguese assets are under pressure ...

 
(MENAFN - AFP) Mexican telephone tycoon Carlos Slim's America Movil is planning to enter the television business, company officials said Wednesday, one day after the legislature here approved sweeping telecoms reform.

Slim is eyeing paid television service as the next move for the company, said Arturo Elias Ayub, the company's spokesman and the phone magnate's son-in-law.

"We ...

 
(MENAFN - AFP) The Federal Reserve plans to stop buying bonds in October, setting an exit to its stimulus program for the US economy, policy meeting minutes showed Wednesday.

"If the economy progresses about as the Committee expects... this final reduction would occur following the October meeting," said the minutes of the June 17-18 meeting of the Federal Open Market Committee.

The ...

 
(MENAFN - AFP) Heavily indebted Greece plans to issue an unspecified amount of three-year bonds, just three months after it returned to medium-term public debt markets, the finance ministry said Wednesday.

International banks have been mandated to manage the euro-denominated issue, and "the transaction will be launched and a price set in the near future, depending on market ...

 
(MENAFN - AFP) Russia managed to avoid sliding into a recession in the second quarter, its deputy economy minister said Wednesday, citing preliminary estimates showing zero growth for the three months ending June.

The emerging giant was widely expected to post a technical recession with two consecutive quarters of contraction, after massive capital flight over the uncertainty ...

 
(MENAFN - AFP) Prayer rooms, hijabs made from local silk and even halal-certified whale meat are appearing in Japan as tourism bosses wake up to the demand from Muslim travellers.

For a largely homogeneous country with only around 100,000 practising Muslims, that means groping its way through unfamiliar customs as it looks to tap a growing market to help it double the number ...

 
(MENAFN - AFP) The EU on Wednesday hit French drugs giant Servier with a huge 331 million euro fine for colluding to delay a cheaper generic version of perindopril, a popular blood pressure treatment.

In a statement, the European Commission said total fines in the case amounted to 427.7 million euros ($582 million), with Israeli generic giant Teva and four other companies ...

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