World Bulletin / News Desk
Greek leftist Alexis Tsipras pledged on Friday to roll back wage and pension cuts, nationalise banks and freeze privatisations if he wins this month's election.
The firebrand leader, ahead in the latest opinion poll, is keeping up radical rhetoric that has horrified the country's lenders but is winning him support before the June 17 vote that is widely seen as a referendum on the country's future in the euro zone.
In an hour-long speech to outline his economic platform for the election, Tsipras showered supporters with a barrage of promises from saving indebted households and cutting taxes on bread and milk to further hiking taxes on the rich.
"The adjustment we are proposing will come from taxing the wealthy and those with high incomes," the 37-year-old said to a crowd chanting "It's time for the left!"
A vehement opponent of Greece's international bailout, which is conditional on deep spending cuts, Tsipras pledged to cancel the 130 billion euro ($161 billion) programme.
Greece relies on the money from the European Union and the International Monetary Fund to avoid bankruptcy, and increasingly alarmed policymakers have warned Greeks that they face a painful return to the drachma currency if they abandon the programme and the austerity measures tied to it.
The Greek banking sector that Tsipras wants to nationalise is close to collapse, battered by recession and its exposure to Greek sovereign debt whose value has been slashed. Tsipras said he wanted to nationalise banks that had been recently recapitalised.
But opinion polls show that his populist proposals have brought him wide support among voters grappling with record unemployment and sharply lower living standards following a series of wage, pension and spending cuts.
Most polls show Tsipras's SYRIZA party running neck and neck with or slightly behind the pro-bailout New Democracy conservatives, though the respected Public Issue poll for the conservative Kathimerini paper on Friday gave SYRIZA a six point lead.
Most pollsters say the election outcome is too close to call, with a volatile mood among angry voters complicating predictions. This month's vote was called after an inconclusive election last month left no party able to form a government.
Greece is in its fifth year of a recession that has left one out of five people out of work. With tax revenues plunging in a shrinking economy, officials have warned the country could run out of money this month without a fresh injection of aid.
The head of Greece's biggest utility PPC told Reuters the country could suffer from power cuts later this year unless its lenders allow an emergency cash injection into power producers to let them buy fuel.
The latest economic data released on Friday showed the country's manufacturing sector shrank again in May but at a slower pace compared to the previous month, although declining production and orders forced firms to cut more jobs.
A total of $610.6 million has been allocated for the implementation of the Ethiopian part of the project, with the funds coming from the Ethiopian government, international financial institutions and donor organizations.
Cukurova Holding to pay back $1.57 billion loan to rival shareholder Alfa by August 1, or face losing control of mobile phone operator
In March, Sweden was among the donor countries that had announced aid cuts to Uganda after the signing of the anti-homosexuality law
A Moscow court told Reuters a regional branch of Rospotrebnadzor had asked it to declare production and sales of some McDonald's products illegal after the watchdog agency carried out inspections of McDonald's restaurants last June.
Although the likely consumer is Europe, which would require pipelines to pass through Turkey, companies may decide instead to export gas from the Levant basin to Jordan, Egypt or the Asian continent.
The ambassadors did agree to add more people and entities to the EU's asset freeze list, using expanded criteria including Russian companies that help to undermine Ukraine's sovereignty
Washington has pressured companies and governments not to buy crude from the Kurdish Regional Government (KRG), but it has stopped short of banning U.S. firms from buying it outright.
The whistleblower's email said GSK used its own employees and Syrian distributor Maatouk Group to make illicit payments.
The hackers broke into a database storing details of people who had registered for ECB conferences, visits and other events, the bank said.
Russia generated $356 billion from oil, gas exports last year, data shows.
While stopping far short of targeting physical energy supplies, EU ministers for the first time this week raised the idea of restricting Russian access to oil and gas technology.
They were among nine organisations and three people added to the EU's Syria sanctions list, published in the bloc's Official Journal
Land reform remains a sensitive issue in South Africa, where 20 years after the end of apartheid the white minority still holds around 87 percent of commercial farm land.
Talks are reportedly underway for a number of investment projects, including in pharmaceuticals and automotive assembly, but no final investment agreements are expected this week.
The yuan will be the world's third largest currency after the U.S. dollar and euro, a Chinese report predicts.
Unemployment currently stands at 12.7 percent in Kenya and affects 30 percent of the country's population