07242016Sun
Last update: Sun, 24 Jul 2016 09am

Europe

World - Europe

EU securities watchdog fines Fitch 1.38mn euros PARIS: The European Union's securities watchdog fined Fitch Rating agency 1.38 million euros ($1.52 million) Thursday for breaking the bloc's credit ratings regulations.The European Securities and Markets Authority said that senior analysts at Fitch has passed on information to senior figures at a parent company before the information was public.The ratings agency also did not give Slovenia the minimum 12 hours to respond to a sovereign rating downgrade before announcing the move."ESMA found certain senior analysts in Fitch transmitted information about upcoming rating actions on sovereign ratings to certain senior persons in a parent company of Fitch before it was made public," ESMA said in a statement."Further, ESMA found that Fitch failed to have proper internal controls in place to ensure it provided a rated entity with the minimum time period to consider and respond to a rating action before making it public."ESMA said that information about the ratings downgrades ...

World - Europe

France committed to leading Israel-Palestine talks: Hollande PARIS: French President Francois Hollande told Palestinian leader Mahmud Abbas in Paris on Thursday that his country is committed to leading international efforts to help secure peace between Israel and the Palestinians.Hollande confirmed "France's commitment to building on the momentum created" on June 3, when Paris hosted senior diplomats to work towards organising an international conference to reboot talks by the end of the year.Copyright AFP (Agence France-Presse), 2016 ...

World - Europe

French president says has no information on air strike in Syria's Manbij DUBLIN: French President Francois Hollande said on Thursday he had no immediate information on whether French planes were responsible for an air strike that killed about 56 people around the northern Syrian city of Manbij.Syria's foreign ministry had said Tuesday's attack, which hit the village of Toukhan north of Manbij, was carried out by French forces."On the actions of the coalition, I have no exact information on what French planes could have done," Hollande said, ...

World - Europe

Britain's May heads to France for Brexit talks LONDON: British Prime Minister Theresa May heads to Paris on Thursday for Brexit talks with French President Francois Hollande after Germany agreed to give Britain more time to prepare its withdrawal from the EU.On her first foreign trip since taking office in the wake of Britain's seismic June referendum, May told German Chancellor Angela Merkel that her government would not ask to leave the EU before the end of 2016 in order to plan a ...

World - Europe

Erdogan says other countries could be involved in Turkey coup bid ANKARA: Turkey President Recep Tayyip Erdogan on Wednesday said other countries could be involved in the coup attempt to overthrow him, adding the organisation of US-based cleric Fethullah Gulen who he blames for the coup was itself led by a "superior mind"."There could be," Erdogan said, asked if other countries could have been involved in the coup in an interview with Al-Jazeera."The Gulen organisation has another superior mind, if you will, and the time will ...

World - Europe

EU national climate goals test bloc's resolve amid Brexit BRUSSELS: EU regulators doled out bitterly disputed national emissions-reduction targets on Wednesday for spreading the burden of the bloc's climate goals by 2030, despite risks Britain's exit could unravel the effort to fight global warming.As the first major piece of legislation since Britons voted in June to leave, it is a test of the union's cohesion, as it seeks to keep to a pact agreed in Paris last year aimed at holding global warming "well ...

World - Europe

EU wheat unchanged, news about rain-damaged harvest awaited HAMBURG: European wheat prices in Paris were unchanged on Wednesday, still supported by uncertainty about the final size of the European harvest after heavy rain this spring and summer damaged crops.An early fall of about 2 percent in US wheat futures in Chicago on Wednesday weakened European sentiment."As long as we do not have a clearer picture of the size but also of the quality of the crop the Matif (Euronext) will not move much," ...