Thousands of Malians gather in front of the presidential compound in Bamako on May 21, 2012. Protesters have attacked interim Malian President Diancounda Traore, beating and bruising the 70-year-old leader at his office in Bamako. The mobs, who were angry at Traore’s appointment in a deal reached with the junta, dodged security and burst into his office and beat him on Monday, AFP reported. “The... 

Ten years ago, the world’s youngest and most ambitious currency – the euro – became materialized. Twelve countries of the European Union launched the new monetary unit in circulation. The new currency was born in one of the largest cities of Germany – Frankfurt-am-Main – where the European Central Bank is headquartered. Citizens of Austria, Belgium, Germany, Ireland,... 

A man walks past a Malaysian Islamic bank The government of the Australian state of New South Wales, home to the country’s financial capital Sydney, has put the introduction of the Islamic financial system on its agenda. A delegation, led by New South Wales Premier Barry O’Farrell and including financial services professionals will travel to Dubai, the United Arab Emirates, to discuss regulatory... 

Moody’s Investors Service The European banking industry has suffered another crushing blow after Moody’s ratings agency downgraded the credit ratings of 16 Spanish banks, citing the weakened government’s ability to support some banks. The agency downgraded the long-term debt and deposit ratings by one to three notches for 16 Spanish banks and Santander UK PLC, a UK-domiciled subsidiary of Banco... 

Where the eurozone crisis heads will depend not on whether Greece leaves the union, but on how the situation in the region affects debt-troubled Italy and Spain, Aleksey Bachurin, head of Russian Cash Equity Trading at Renaissance Capital, told RT. ­“The important thing is not Greece itself: it’s relatively small and the investments in Greece are already written down by most banks. But the potential... 

An Iranian oil tanker The South Korean Economy Ministry says Seoul and Tokyo have asked the European Union to extend insurance contracts on tankers carrying Iranian crude after the bloc’s oil embargo comes into effect on July 1. “To the EU members, we explained the problems that could be caused to non-EU members by the EU insurance embargo,” the ministry said in a Monday statement. “In close... 

Italy's Prime Minister Mario Monti Italian Prime Minister Mario Monti has pointed to the possibility of calling in the army to deal with the violent protests in the country over the government’s economic policies. Monti raised alert levels on Sunday at some sensitive sites across Italy to handle the recent violence that has hit the country. Interior Minister Anna Maria Cancellieri also said on... 

Two policemen have been injured as hundreds of protesters hurled red paint and eggs at officers guarding Equitalia, Italy’s tax collection office, in Naples following the suicide of yet another debt-ridden Italian citizen. Demonstrators lobbed rocks and bottles at policemen clad in riot gear as the building was quickly closed to the public. The protesters claimed to have attacked the tax office... 

Panasonic President Fumio Ohtsubo The stocks of Japan’s electronics giants Sony and Panasonic have plunged to their lowest in over three decades with companies reporting USD 5.7 billion and USD 9.67 billion annual losses respectively. Sony’s shares dived 6.43 percent to 1,135 yen on Thursday, while Panasonic closed down 1.55 percent at 570 yen on Friday. The firms’ shares stood at their... 

German Chancellor Angela Merkel left little ground to hope she would abandon or moderate the austerity program for Europe as she warned that growth on new loans would push the EU into deeper crisis. “Growth through structural reform is sensible, important and necessary,” she said during an address to the German Parliament. “Growth through debt would throw us back to the beginning of the... 

Presidential hopeful Ron Paul has condemned a plan being considered in the United States House of Representatives that would allow for the US to continue aiding in the defense of Israel by equipping the Jewish state’s military with added weaponry. From Washington, D.C. on Wednesday, Congressman Ron Paul (R-Texas) attacked the contents of an act currently up for discussion that, if passed, would... 

Europeans are concerned about high fuel prices resulting from the Iran oil ban and its negative effects on the economic situation of their countries. A new poll conducted in five European countries shows most people are against imposing sanctions on Iran’s oil sector. A total of 2,100 adults in Germany, France, Austria, Sweden and Poland responded to the poll which was conducted by the German... 

Australia will become the first major economy in the developed world to record a surplus since the start of the global financial crisis. Julia Gillard, the prime minister, has pinned her political future on a “Robin Hood” budget which includes sweeping handouts worth more than £3 billion to reverse her dwindling public support. Relying on extra revenues from mining companies, the Government... 

Greece’s leader of the leftist SYRIZA coalition, Alexis Tsipras Greece’s left-wing coalition leader has ruled out austerity measures, receiving a mandate to form a new government as elections produced a stalemate in parliament. Greece’s leader of the leftist SYRIZA coalition, Alexis Tsipras, has ruled out budget-cutting austerity measures, opting to meet President Karolos Papaoulias in talks... 

The euro has dropped in value following the electoral defeat of ruling parties in France and Greece. The euro has dropped in value following the electoral defeat of ruling parties in France and Greece as new anxiety about the fate of EU austerity policies rattles financial markets. The currency sank to 1.29 dollars on Monday, its lowest level since January, after Socialist Francois Hollande beat President...