The Latest: Greece Denies Report of Temporary Grexit

The Greek government is denying a report that the German finance ministry has proposed a temporary, five-year euro exit for Greece. Theodoros Mihopoulos who heads Greek Prime Minister Alexis Tsipras’ office, said in a tweet that the report in Germany’s Frankfurter Allgemeine Sonntagszeitung newspaper “is completely denied.” According to the report, the German finance ministry also proposed that the Greek ... Read More »

International Financial Institutions Announce $400 Billion to Achieve Sustainable Development Goals

WASHINGTON, July 10, 2015—The multilateral development banks (MDBs) and IMF today signaled plans to extend more than $400 billion in financing over the next three years and vowed to work more closely with private and public sector partners to help mobilize the resources needed to meet the historic challenge of achieving the Sustainable Development Goals (SDGs). The institutions—the African Development ... Read More »

REFILE-World looks to Ethiopia to break deadlock over financing new development goals

NAIROBI, July 10 (Thomson Reuters Foundation) – Negotiators locked horns until 2 a.m. some nights in New York this past month, trying to agree on a way to finance the United Nation’s bold new global development agenda — without success. The disputed 31-page document is headed to the Ethiopian capital, Addis Ababa, where some 190 nations hope to agree on ... Read More »

Spa City Republican running for finance commissioner

Saratoga Springs Republican Kenneth Ivins did not receive the endorsement of his party to run for finance commissioner, so he went door-to-door and collected hundreds of signatures in an attempt to obtain the party’s line on the November ballot. Ivins announced Tuesday near High Rock Park that he would challenge incumbent Democrat Michele Madigan for finance commissioner without the support ... Read More »

Tax free bonds worth Rs 40,000-cr to hit street this fiscal

Tax-free bonds worth Rs 40,000 crore are set to hit the market this financial year, with the government having allowed seven entities to raise funds through this route. Experts believe these will attract investors, though it is agreed that the returns would be lower than what was offered in 2013-14. The Union Budget had announced these for infrastructure projects. These ... Read More »

Srei Equipment Finance on fundraising spree, plans $500 m debt issue

Srei Equipment Finance, an equal-stake joint venture between Srei Infra and with Paribas, is planning to raise about $500 million in tranches through a Medium Term Note (MTN) issue on the Singapore Stock Exchange. This comes shortly after parent Srei Infrastructure said it would mobilise up to Rs 1,000 crore through bonds in the domestic market. The whole of $500 ... Read More »

China ramps up efforts to halt stock market rout

China’s central bank stepped up state support for sinking stocks on Wednesday, as investors rushed to sell what they still could after a fresh wave of share suspensions that has halted trading in half the market. The Shanghai Composite closed down 5.9 per cent after falling as much as 8 per cent at the open. The Shenzhen index lost 2.5 ... Read More »

Walker office already acts as if records exemption is law

Madison— Gov. Scott Walker announced over the weekend that Republicans were abandoning their plan to create new exceptions to the state’s open records law, but for months the all-but-certain presidential candidate has been operating as if one exemption already was in place. Two months ago, Walker declined to release records related to his proposal to rewrite the University of Wisconsin ... Read More »

Greece news live: ‘Basis for deal exists’ as Juncker plays down Grexit fears ahead of today’s eurogroup meeting

• Greeks told they must come up with proposal by this afternoon for Eurogroup meeting • Juncker: a solution “won’t arrive overnight” • Capital controls bite as Dixons subsidiary pays staff in cash and pharmacies short of medicines • European Central Bank tightens noose as creditor powers punish Greece • Why are the Greeks celebrating, ask baffled Germans • Greek ... Read More »

Greece debt crisis: Finance Minister Varoufakis resigns

Greece’s outspoken finance minister has resigned, hours after voters backed his call to reject creditors’ demands for more austerity in a referendum. Yanis Varoufakis said it was felt his departure would be helpful in finding a solution to the country’s debt crisis. Eurozone finance ministers, with whom he repeatedly clashed, had wanted him removed, Mr Varoufakis explained. Meanwhile, global financial ... Read More »