Russia's Sberbank launches legal challenge against EU over Ukraine sanctions

The state-controlled bank confirmed it had filed a legal challenge at the General Court of the European Court of Justice on Thursday, but did not comment on the terms of the challenge.

US and EU 'make progress' in free trade area talks

Officials from the United States and the European Union say they have made progress as they seek to sweep away trade barriers. Teams from the two sides have held a week of discussions in Chevy Chase, Maryland.

Italian business pushes Renzi for action

(Reuters) - The annual meeting of Italy's business elite on the shores of Lake Como was - again - dominated by calls for reforms and gloomy discussion of an economic crisis now well into its sixth year.

Global accounting body airs possible reform of bank hedging rule

(Reuters) - Investors would be able to make a more accurate assessment of how well banks manage risks on their books under proposals published by the International Accounting Standards Board (IASB) on Thursday.

In Brussels, China learns 'eurospeak' to seek influence

(Reuters) - At the height of the euro zone crisis, a Chinese official quipped that Europe was being reduced to a "wonderful theme park" for tourists.

Portugal deficit edges up in Quarter 3

LISBON: Portugal's budget deficit in the 12 months to the end of September edged up to 6.3 per cent of gross domestic product from 6.1 per cent at the end of June as spending rose more than revenues, official data showed on Friday.

Draghi Says Bank-Aid Rules Must Be Flexible on Forced Losses

European Central Bank President Mario Draghi said banks should be able to access public aid without wiping out junior bondholders if regulators decide a lender needs more capital and isn’t on the brink of failure.

Greece says privatisations go on, despite sack for head

ATHENS: Greece will stick to its programme of privatisations, a key part of bailout conditions, despite the sacking of the head of the privatisation fund, a government official assured on Monday.

Israel seeks to negotiate on planned EU sanctions

(Reuters) - Israel appealed to the European Union on Friday to rethink planned sanctions against its organizations in the occupied territories and called for talks, a shift in tone from previous Israeli anger and retaliatory measures.

South Korea Tightens Capital Flow Checks to Catch Tax Dodgers

South Korea is strengthening supervision of foreign exchange transactions as President Park Geun Hye broadens her country’s part in a global crackdown against tax evasion.

Eurozone crisis is over: Francois Hollande

TOKYO: The crippling debt crisis that has ravaged Europe for years is finished, France's President Francois Hollande has declared, despite high unemployment and lingering recession on the continent.

There was no UK double dip recession, ONS data suggests

Britain's double-dip recession may be erased from the history books after the Office for National Statistics said the construction industry grew more strongly than thought at the start of last year.

Europe takes key role in Italy's elections

ROME: The European Union -- for better or worse -- has taken a key role in the campaign ahead of Italy's elections this month, which are being closely watched across Europe for signs of instability.

Portugal does not seek Greek-style debt deal: Prime Minister Pedro Passos Coelho

LISBON: Portugal will not seek changes to obtain lower interest rates on its bailout loans as Greece received and is respecting targets laid down by creditors, Prime Minister Pedro Passos Coelho said on Tuesday.

Greece seeks urgent bridge financing

Greece is to make an urgent bid to raise funds from the financial markets in case it does not get another tranche of bailout aid in time to repay debts.

Greek opposition rejects new cuts but won't force poll

PARIS (Reuters) - Greece's opposition leader denounced international lenders' demands as dealing the "final blow" to a devastated economy but said on Friday he would not seek to bring down the government.

Britain seems to be saying "bye bye" to EU, says Finland

(Reuters) - Britain's policy towards Europe is becoming harder to understand and there is a sense the country is slowly waving goodbye to the European Union, Finland's Europe minister said on Thursday.

Oil embargo to cause 'unstable' market: Iranian minister

VIENNA: A looming oil embargo on Iran, related to its controversial nuclear programme, will destabilise the global oil market and spark higher prices, Iranian Oil Minister Rostam Qasemi warned Wednesday in Vienna.

Exclusive - Euro zone discussed capital controls if Greece exits euro -sources

(Reuters) - European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.

U.S. and European Union Agree on Air Cargo Security

The United States and the European Union were expected Friday to announce an agreement to recognize each other’s air cargo security procedures, putting an end to a costly duplication of security controls on the more than $130 billion in airfreight that crosses the Atlantic from Europe each year.