World Bulletin / News Desk
Greek unemployment rose by almost a full percentage point in June, leaving close to a quarter of the workforce idle, as Athens struggles to find yet more austerity measures to appease its lenders.
The jobless rate rose to 24.4 percent from a revised 23.5 percent in the previous month, statistics service ELSTAT said on Thursday.
The Greek jobless rate is now just a fraction behind the level in fellow euro zone sufferer Spain, whose unemployment rate for the three months to June stood at 24.6 percent, according to Madrid's official figures.
A total of 1.2 million Greeks were without work in June, up 42 percent from the same month last year.
Budget cuts imposed by the European Union and the International Monetary Fund as a condition for saving the debt-laden country from a chaotic default have aggravated a wave of corporate closures and bankruptcies.
Credit to companies has been shrinking as the country's banks depend on the ECB for liquidity and cannot fund firms.
The impact has been felt hardest on those aged between 15-24 years. Unemployment in that age group stood at 55 percent, compared with 20 percent in 2008, when Greece's recession began.
Greece's economy is estimated to have shrunk by about a fifth since then. More than 600,000 jobs, more than one in 10, have been destroyed in the process.
The slump is expected to accelerate later this year if the government implements further budget cuts of almost 12 billion euros over the next two years as a pre-condition for more funds under its EU/IMF bailout.
China has also said it would like to continue to develop "friendly cooperation" with Ukraine and that it respects the ex-Soviet state's independence, sovereignty and territorial integrity.
Selling a fleet of subs would mark the first time since at least the end of World War Two that Japan had sold a complete weapons platform overseas.
The head of Iran's atomic agency says the agreement will be signed next month
A little more than a month ahead of general elections, new figures shows the Brazilian economy contracted by 0.6 percent in the second quarter of 2014
Russia cut off the gas flow in mid-June after the two sides failed to agree on pricing and debts owed for previous gas supplies.
Malaysia Airlines will be de-listed from the Kuala Lumpur exchange by the end of 2014
Venezuela's Petroleum minister, Rafael Ramirez, said earlier this year that PDVSA could import crude as a "last resort" to find diluents for its heavy crudes
Air France, the French network of Air France-KLM said on Wednesday it has suspended its flights to Sierra Leone following advice from the French government
Ukrainian Prime Minister Arseny Yatseniuk said that Kiev knew of plans by Russia to halt gas flows this winter to Europe
The inquiry into tycoon Bernard Tapie has embroiled several of former president Nicolas Sarkozy's cabinet members including Lagarde.
The riot broke out in the southern industrial hub of Johor state on Tuesday at a factory run by JCY International , a Malaysian firm that makes parts for electronic giants including Samsung, Hitachi and Western Digital.
Hawaii and U.S. territories have strong dependency on petroleum imports, because of their physical isolation and lack of fossil fuel resources, while their residential electricity prices have been three to five times the average residential prices of the mainland U.S.
Buyers of Kurdish crude could face lawsuits from Baghdad if the oil moves close to U.S. soil and would also require the seller to provide costly indemnities against potential lawsuits
Deep job losses, route cuts and a change of leadership are expected to feature in a restructuring plan being prepared by Malaysia's government
New company will create the third largest global fast-food chain with annual sales of US$23 billion.
Once the international language of royal courts and diplomacy, French has lost ground to English in recent decades