IMF approves $1.3 billion loan for Cyrpus
WASHINGTON, D.C. (BNO NEWS) -- The International Monetary Fund (IMF) on Wednesday approved a three-year $1.3 billion (1 billion euro) loan to Cyprus, part of a larger international bailout to help stabilize the island's economy and avoid it [...]
Eurozone jobless rate reaches record 12.1 percent
BRUSSELS, BELGIUM (BNO NEWS) -- The unemployment rate in the euro area (EA17) reached a new record high of 12.1 percent in March, up a tenth of a percentage point when compared to the previous month, the European Union (EU) said on Friday. The [...]
Eurozone jobless rate reaches record 12 percent
BRUSSELS, BELGIUM (BNO NEWS) -- The unemployment rate in the euro area (EA17) remained stable in February, but nonetheless reached a record high after the European Union (EU) revised figures for the previous month. The jobless rate in the wider [...]
Cyprus: Big depositors could lose up to 60 percent
NICOSIA, CYPRUS (BNO NEWS) -- Big depositors at Cyprus' largest bank will face losing up to 60 percent of their savings which exceed 100,000 euros ($127,770), far more than had been initially estimated as part of a European rescue package, the [...]
Cyprus banks to reopen Thursday with tight controls
NICOSIA, CYPRUS (BNO NEWS) -- Cypriot's finance minister announced Wednesday that the country's banks will reopen on Thursday with tight controls to regulate the flow of capital, nearly two weeks after financial institutions were shut to avoid [...]
European Union needs $20.7 billion to avoid insolvency this year
BRUSSELS, BELGIUM (BNO NEWS) -- The European Union's executive arm on Wednesday said it needs 11.2 billion euros ($14.4 billion) in additional funding from member states to pay outstanding bills from last year, but its budget committee warned [...]
EU fines Microsoft $731 million for failing to offer web browsers
BRUSSELS (BNO NEWS) -- The European Union (EU) on Wednesday imposed a €561 million ($731 million) fine on global software company Microsoft Corp. for failing to offer Windows users the option of choosing their preferred web browser when they [...]
Plane crash in eastern DR Congo kills 6, injures 3
GOMA, DR CONGO (BNO NEWS) -- At least six people were killed Monday when a passenger plane crashed in a residential area in the eastern Democratic Republic of the Congo, a government spokesman said Tuesday, correcting earlier reports that more [...]
Record 259 nominees for this year’s Nobel Peace Prize
OSLO, NORWAY (BNO NEWS) -- More than 250 individuals and organizations have been nominated for this year's Nobel Peace Prize, surpassing the previous record, the Norwegian Nobel Committee announced on Monday. Among those nominated are a Pakistani [...]
Eurozone jobless rate hits record 11.9 percent
BRUSSELS, BELGIUM (BNO NEWS) -- The unemployment rate in the euro area (EA17) reached a new record high of 11.9 percent in January, up a tenth of a percentage point when compared to the previous month, the European Union (EU) said on Friday. [...]