Squeezed by debt crisis, Greeks ditch cars for bikes

a-young-man-with-a-bicycle-walks-inside-a-city-train-station-in-athens-june-26-2012-photo-reuters-509818-image-100x100

Greece's dire economic plight has forced thousands of businesses to close, thrown one in five out of work and eroded the living standards of millions. But for bicycle-maker Giorgos Vogiatzis, it's not all bad news. The crisis has put cash-strapped Greeks on their bikes - once snubbed as a sign of poverty or just plain risky - and Greek manufacturers are shifting into fast gear. … [Read more...]

Sponsored links

Man United NY float could free up cash for players

benfica-players-warm-training-session-manchester-united-trafford-477378-100x100

Manchester United plans to cut its debt with a New York flotation that should free up cash for top players after a barren season in which it was replaced at the top of English football by rich rivals Manchester City. Benfica's players warm up during a training session at Manchester United's Old Trafford stadium in Manchester, northern England, November 21, 2011.Photo: REUTERS The American Glazer family, owner of the NFL team Tampa Bay Buccaneers, will keep its grip on the 19-times English … [Read more...]

Investors to move with times

ck.jpg

In November Vietnam's stock market witnessed low liquidity with stock prices plunging to lows not seen in several years and some stocks were not worth a cup of tea. Investors can take comfort in the fact that the only way is up for markets The market's mood seems to have darkened with news some commercial banks failed to pay back interbank market loans despite some positive signs the economy may be turning the corner. Inflation cools but risks remain for 2012 November's consumer price … [Read more...]

Bottom feeders flag bourses to turn corner

967stock16p2.jpg

Vietnamese equities plunged to new lows in several months with increasing bottom-fishing efforts, indicating that the market bottom is around the corner. Many investors think the only way is up for the market Ho Chi Minh Stock Exchange's VN-Index ended last week at 426.51 points, the lowest level since late July, 2009. For the whole last week, VN-Index lost 15 points or 3.5 per cent against the previous week. Hanoi Stock Exchange's plunged to below 100 points, closing at 99.10 points on … [Read more...]

French auto sales struggle, production dives

Workers of the PSA Peugeot Citroen carmaker plant of Aulnay-sous-Bois, a Paris suburb. (AFP/Lionel Bonaventure)

Sales of new cars in France rallied slightly in July when French brands did well with new models, but in the first six months of the year output by French carmakers plunged by 20.8 per cent, trade data showed on Thursday. PARIS: Sales of new cars in France rallied slightly in July when French brands did well with new models, but in the first six months of the year output by French carmakers plunged by 20.8 per cent, trade data showed on Thursday. Overall sales rose by 0.9 per cent to … [Read more...]

Fiat first quarter profit soars

000_Par701226520120427083010.jpg

Italian auto giant Fiat said Thursday its net profit in the first quarter soared ten-fold to 379 million euros ($500 million) thanks to its US partner Chrysler, without which it would be in the red. The group had banked 37 million euros in profit in the first quarter last year -- before snapping up a majority stake in the US automaker in a move which has more than offset poor Fiat results in a sluggish European market. Chrysler, which fell under Fiat's operational command in June 2009 when … [Read more...]

As profits surge, Europe’s carmakers rev up global ambitions

fiat-north-america-ceo-laura-soave-introduces-the-2012-fiat-500-during-the-2011-new-york-international-auto-show-on-april-21-786342-captphoto-1304282311829-1-02011050208080720110502080903-100x100

Two years after a world economic downturn all but wiped them out, European carmakers have bounced back to the spotlight with Volkswagen aiming to be the industry leader and Fiat carving out a global brand for itself. Unfettered of their obligations to repay state aid and riding out the expiry of government "cash-for-clunkers" schemes that initially plunged their revenue, carmakers this week gave rosy outlooks for the rest of fiscal 2011. Germany's Volkswagen reported a three-fold profit leap … [Read more...]

US consumer confidence takes recession beating

Shoppers on Fifth Avenue in New York City. US consumer confidence tanked in October amid growing worries about jobs in the recession-wracked economy, boding ill for the key holiday shopping season, the Conference Board said Tuesday. (AFP Photo)

US consumer confidence slumped in October amid worries about jobs in the recession-wracked economy, boding ill for the important holiday shopping season, the Conference Board said Tuesday. The private research firm said its consumer confidence index declined for the second month in a row, to 47.7 in October from a revised 53.4 in September. The September reading initially was reported at 53.1. The decline in the October index was much steeper than expected by Wall Street, with most … [Read more...]

Vietnamese should be prouder of goods produced domestically

Your Say (11-09-2009) Vietnamese should be prouder of goods produced domestically Last week, Viet Nam News asked readers how to promote made-in-Viet Nam products. Here are some of the opinions we received: Pham Thanh Truyen, Vietnamese, HCM City Vietnamese enterprises need to do more. Unlike other countries in Asia, Vietnamese people prefer foreign products. Ten or 15 years ago, few doubted that foreign products were superior to local ones. Unfortunately, that mindset hasn't … [Read more...]

Canada’s Parliament Hill reopens following Wednesday shooting

OTTAWA, Oct 25 - Canadians returned to the grounds of their parliament building on Saturday, three days after a homegrown radical rushed in armed with a rifle after shooting dead a soldier in the second attack on the country's military at home in a week. The grounds of the hilltop gothic building, whose clock tower is a centerpiece of Ottawa's skyline, attracted scores of visitors, many still stunned by Wednesday's attack, which took place as Prime Minister Stephen Harper was meeting with … [Read more...]

Former Japan PM Fukuda to meet China’s Xi next week

Former Japanese Prime Minister Yasuo Fukuda will meet Chinese President Xi Jinping next Wednesday in Beijing, a source familiar with the matter said, setting the stage for a possible meeting between the leaders of Japan and China in November. Expectations have been growing in Japan for Prime Minister Shinzo Abe to meet Xi for an ice-breaking chat next month on the sidelines of a gathering of Asia-Pacific leaders in Beijing. A one-on-one meeting of the leaders would be a symbolic breakthrough … [Read more...]

Japan minister visits war dead shrine day after Abe sends offering

1575219-jpa1-sbxi

[Read more...]

Russia, Serbia sign cooperative agreements

1574912-serbia

(VOVworld) - Serbia and Russia have signed seven agreements, memorandums and protocols during a visit by Russian President Vladimir Putin to Belgrade on Thursday. Russian President Vladimir Putin held talks with his Serbian counterpart Tomislav Nikolic and Prime Minister Aleksandar Vucic to discuss measures on boosting bilateral ties. … [Read more...]

China names new envoy to Iceland after Japan spying report

1574573-udqkg2ws

BEIJING, Oct 17 - Chinese President Xi Jinping has appointed China's new ambassador to Iceland, a month after overseas Chinese media reported that the previous envoy had been arrested for passing secrets to Japan. … [Read more...]

U.N. says thousands likely to be massacred if jihadists take Kobani

1571892-7npg0ie2

Thousands of people most likely will be massacred if Kobani falls to Islamic State fighters, a U.N. envoy said on Friday, as militants fought deeper into the besieged Syrian Kurdish town in full view of Turkish tanks that have done nothing to intervene. U.N. envoy Staffan de Mistura said Kobani could suffer the same fate as the Bosnian town of Srebrenica, where 8,000 Muslims were murdered by Serbs in 1995, Europe's worst atrocity since World War Two, while U.N. peacekeepers failed to protect … [Read more...]

France’s Modiano wins Nobel Prize for Literature

French writer Patrick Modiano    French writer Patrick Modiano has won the 2014 Nobel Prize for Literature for works that made him "a Marcel Proust of our time," the Swedish Academy said on Thursday.

Relatively unknown outside of France, Modiano's works have centered on memory, oblivion, identity and guilt that often take place during the German occupation of World War Two. He has written novels, children's books and film scripts. Some of Modiano's roughly 30 works include "A Trace of Malice" and "Honeymoon". His latest work is the novel "Pour que tu ne te perdes pas dans le quartier". Modiano was born in the Paris suburb of Boulogne-Billancourt in July 1945, several months after the … [Read more...]

South Korea’s Park says door open for talks with North

1558147-nkorean-soldier-zida

A North Korean soldier plays a guitar on a patrol boat on the Yalu River, near the North Korean town of Sinuiju, opposite to the Chinese border city of Dandong, September 9, 2014. Photo: Reuters … [Read more...]

U.S. partners unclear on roles in fight against Islamic State

1557386-is-egxx

A Kurdish Peshmerga fighter walks past a house destroyed by American air strikes at Barznki village two days ago in Zummar, controlled by Islamic State (IS), near Mosul September 15, 2014. Photo: Reuters … [Read more...]

George Clooney to receive Golden Globes’ Cecil B. DeMille award

1557593-dgx56qcj

Oscar-winning actor, director and producer George Clooney will receive the Cecil B. DeMille Award, an honorary Golden Globe for his contribution to cinema, organizers of the event said on Monday. Clooney, 53, one of Hollywood's leading men on screen and behind the camera, will be honored in January at the Golden Globes Awards, one of the year's most high-profile awards ceremonies for film and television organized by the Hollywood Foreign Press Association. … [Read more...]