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(MENAFN - AFP) Oil prices sank this week to one-month lows on the back of the strong dollar and global supply glut fears, ahead of the OPEC cartel output meeting next week.

The rising greenback makes dollar-denominated commodities more expensive for holders of other currencies. That tends to dent demand and prices.

Meanwhile the Organization of the Petroleum Exporting ...

(MENAFN - AFP) Russia is to ban fish imports from the Baltic states of Latvia and Estonia, its food safety watchdog said Friday, citing violations.

Officials from Russia's food safety regulator Rosselkhoznadzor met veterinary officials from the Baltic states on Friday and told them "imports of fish products from Latvia and Estonia to Russia will be halted shortly," the agency ...

(MENAFN - AFP) Bank of Cyprus, the east Mediterranean island's largest lender, on Friday posted a 29-million-euro ($32-million) post-tax profit in the first quarter.

Profit after tax attributable to the owners of the bank compares with a loss of 337 million euros in the last quarter of 2014.

BoC said it had reduced emergency liquidity assistance (ELA) in Q1 by 500 million ...

(MENAFN - AFP) European regulators are pressuring France over a new law designed to halt the meteoric rise of Uber, the popular taxi app that is facing fierce opposition from traditional cabs.

The European Commission, the EU's powerful executive, confirmed to AFP on Friday that it had sent a letter to the French government, seeking clarification on a law that puts clear limits ...

(MENAFN - AFP) Hungary's prime minister said on Friday he wanted to improve the European Union but not leave the bloc, as his British counterpart David Cameron courted European capitals for EU reform.

"I am ready to criticise the EU on any issue, and I am ready to debate with European bureaucrats, but I am firmly opposed to, and we should fight, anybody who would steer the ...

(MENAFN - AFP) Recession-hit Cyprus recorded a 15 percent hike in key tourism revenue in March, the first rise in income this year, official data showed on Friday.

Tourism income on the Mediterranean holiday island reached 65 million euros ($71 million) from 56.5 million euros in the same month last year.

This was helped by a 25.7 percent surge in tourist arrivals in ...

(MENAFN - AFP) Brazil's economy, the world's seventh largest, contracted by 0.2 percent in the first quarter of 2015, the government said Friday, kicking off a rough year in which it is expected to continue shrinking.

The figure confirmed a five-year slowdown in the South American giant's GDP but was smaller than the 0.5 percent drop that most analysts had forecast.

The ...

(MENAFN - AFP) Ukraine's finance minister said on Friday that Kiev and its private creditors were about to launch direct debt restructuring negotiations that could save the war-torn country from a devastating default.

Natalie Jaresko's comments came as the ex-Soviet state's pro-Western leadership races to meet a late June deadline by which it must find a way to save $15 billion ...

29 May 2015   Greece rattles European stocks 
(MENAFN - AFP) Europe's equity markets slumped Friday on the final day of a Group of Seven finance meeting, dominated by festering concerns over Greece and pressure from the US and Japan to resolve the debt crisis.

Investors are increasingly worried that Greece and its creditors could fail to reach an agreement on reforms tied to its bailout and Athens could struggle to meet ...

(MENAFN - AFP) South Korea confirmed five MERS cases Friday, bringing the total number of patients infected with the potentially deadly virus to 12, including a man who defied a quarantine protocol and travelled to China, health officials said.

The infections were all traced to the original case of a 68-year-old man diagnosed on May 20 after returning from a trip to Saudi ...

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