07242016Sun
Last update: Sun, 24 Jul 2016 11pm

Europe

World - Europe

Britain might deploy fiscal stimulus in autumn: Hammond CHENGDU: Britain could unleash a government stimulus package this autumn to counter the negative effects of its vote to leave the European Union, its finance minister said Sunday."We have the option of a fiscal response, and we will do that on our normal timetable around the autumn statement," Philip Hammond told reporters on the sidelines of a G20 finance ministers meeting in the Chinese city of Chengdu.His remarks came after closely-watched survey data Friday showed that Britain's economy was battered by the Brexit vote last month and faced a "dramatic deterioration" in activity.Hammond said the private sector business activity figures "underscore the hit to confidence from the uncertainty that the referendum decision has created"."The reality is that there will be a measure of uncertainty right up to the conclusion of our negotiations with the European Union," he added.There is a two-year window for negotiations from when Britain triggers the Article ...

World - Europe

EU should suspend funds for Spain, Portugal: letter BRUSSELS: The EU should suspend structural funds to Spain and Portugal after they failed to rein in their debt, according to a letter from the European Commission seen by AFP on Saturday.Eurozone finance ministers agreed this month to impose unprecedented sanctions against Spain and Portugal for overstepping the bloc's budget deficit limits.The penalties would be the first time Brussels has wielded its disciplinary powers over member states' budgets, in a move that has inflamed tensions ...

World - Europe

Poland ups Pope security after Europe attacks KRAKÓW: Poland will deploy more than 40,000 security personnel to protect Pope Francis and the hundreds of thousands of young Catholics meeting him for World Youth Day (WYD) in Krakow next week.The deployment comes after a string of deadly attacks in Paris, Brussels, Nice and Munich in which over 250 people have died since January 2015.- No skimping on security -As head of the Roman Catholic church, Pope Francis is an important potential target.The attempted ...

World - Europe

Social media a curse and a blessing in Munich shooting MUNICH: Social networks were both a curse and a blessing in the deadly shopping mall shooting in Munich, as police sometimes found themselves chasing fictitious leads and false alarms.The 18-year-old gunman, a German-Iranian named David Ali Sonboly, also used the internet to plan and carry out his crime, in which he killed nine people and wounded 16 others.Nevertheless, the social networks provided a valuable source of information and solidarity for the city's frightened population during ...

World - Europe

G20 nations warn of Brexit risk to global growth CHENGDU: Finance ministers from the world's biggest economies warned of global uncertainty from Britain's looming departure from the European Union, as they gathered in China on Sunday.Just three months ago, G20 government representatives and central bank chiefs cited Britain's potential exit as one among many "downside risks" for the global economy.But with the shock vote in June for Britain to leave, the issue has come to the forefront.Bank of Japan governor Haruhiko Kuroda said Saturday ...

World - Europe

Kerry on private trip to Nice after terror attack PARIS: US Secretary of State John Kerry was making a private visit to the southern French city of Nice Saturday, where he will visit an American hospitalised in the July 14 truck attack, an aide said."Secretary Kerry is in Nice today on private business," a senior State Department official travelling with Kerry said in Paris."While there, he will visit with an American injured in last week's terrorist attack who is recovering in a local hospital. ...

World - Europe

Erdogan says EU 'biased' against Turkey after coup bid ISTANBUL: President Recep Tayyip Erdogan on Saturday charged that the European Union has a "biased and prejudiced" stance on Turkey, following stinging EU criticism over a crackdown in the wake of the failed coup."They are making statements that are contradictory. They are biased, they are prejudiced and will continue to act in this prejudiced manner towards Turkey," Erdogan told France 24 television in an interview.Turkey's longstanding EU bid is hanging in the balance after Erdogan ...