Greek Parliament yet to vote on deal
The Greek government on Tuesday reached an agreement with its eurozone creditors for an 85 billion euro bailout package to the debt-ridden country. The European Commission said that a technical agreement between all the parties had been reached, adding that the terms of the package still required political approval from the Greek Parliament. Greek Prime Minister Alexis Tsipras later asked the country's Parliament to convene on Wednesday so that MPs could debate the details of the agreement before a vote on Thursday.
Russian missile parts found at MH17 crash site
Investigators from the Netherlands on Tuesday found fragments of a suspected Russian missile system at the site where Malaysian Airlines flight MH17 was allegedly shot down by Ukrainian separatists. Investigators said that while the discovery of the fragments would help to ascertain who had shot the aircraft down, they had not found enough proof to indict any specific party. The aircraft was shot down over territory held by Russian-backed rebels in July 2014. The crash killed all 298 people on board the flight.
Japan restarts nuclear plant
Japan on Tuesday restarted operations at a nuclear reactor in Sendai, the first plant to resume work following the Fukushima disaster in 2011. Officials said that the Kyushu Electric Power company, which owned the plant, restarted the reactor after passing stringent new safety tests laid down by the Japanese government. A total of 25 plants have applied for restarting operations. However, the move has faced stiff legal and local opposition over fears of a repeat of the Fukushima incident, which saw the melt-down of nuclear materials at the reactor following an earthquake and a tsunami in the region. Following the incident, Japan shut down most of its nuclear power plants.
China devalues currency to boost economy
China on Tuesday devalued its currency, the yuan, by 2% to boost its flagging economy. This will make its exports cheaper while aiming to push down borrowing costs. This move sent shockwaves through global stock markets, primarily Greece, which has been negotiating bailout terms with its creditors in the eurozone. The measure was taken after recent data showed falling exports and a stalling manufacturing sector. “The yuan had become relatively expensive as other Asian currencies weakened against the dollar,” said Masafumi Yamamoto, senior strategist at Monex in Tokyo.
Australia prevents vote on same-sex unions
The Australian government on Tuesday blocked a free vote on allowing same-sex marriages in the country. Australian Prime Minister Tony Abbott justified the government's move, saying that the issue would be "put to the people" following the next general elections in the country. He added that most MPs in the country's Parliament were in favour of "keeping the traditional definition of marriage". Abbott’s Liberal Party is opposed to same-sex marriages.
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The Greek government on Tuesday reached an agreement with its eurozone creditors for an 85 billion euro bailout package to the debt-ridden country. The European Commission said that a technical agreement between all the parties had been reached, adding that the terms of the package still required political approval from the Greek Parliament. Greek Prime Minister Alexis Tsipras later asked the country's Parliament to convene on Wednesday so that MPs could debate the details of the agreement before a vote on Thursday.
Russian missile parts found at MH17 crash site
Investigators from the Netherlands on Tuesday found fragments of a suspected Russian missile system at the site where Malaysian Airlines flight MH17 was allegedly shot down by Ukrainian separatists. Investigators said that while the discovery of the fragments would help to ascertain who had shot the aircraft down, they had not found enough proof to indict any specific party. The aircraft was shot down over territory held by Russian-backed rebels in July 2014. The crash killed all 298 people on board the flight.
Japan restarts nuclear plant
Japan on Tuesday restarted operations at a nuclear reactor in Sendai, the first plant to resume work following the Fukushima disaster in 2011. Officials said that the Kyushu Electric Power company, which owned the plant, restarted the reactor after passing stringent new safety tests laid down by the Japanese government. A total of 25 plants have applied for restarting operations. However, the move has faced stiff legal and local opposition over fears of a repeat of the Fukushima incident, which saw the melt-down of nuclear materials at the reactor following an earthquake and a tsunami in the region. Following the incident, Japan shut down most of its nuclear power plants.
China devalues currency to boost economy
China on Tuesday devalued its currency, the yuan, by 2% to boost its flagging economy. This will make its exports cheaper while aiming to push down borrowing costs. This move sent shockwaves through global stock markets, primarily Greece, which has been negotiating bailout terms with its creditors in the eurozone. The measure was taken after recent data showed falling exports and a stalling manufacturing sector. “The yuan had become relatively expensive as other Asian currencies weakened against the dollar,” said Masafumi Yamamoto, senior strategist at Monex in Tokyo.
Australia prevents vote on same-sex unions
The Australian government on Tuesday blocked a free vote on allowing same-sex marriages in the country. Australian Prime Minister Tony Abbott justified the government's move, saying that the issue would be "put to the people" following the next general elections in the country. He added that most MPs in the country's Parliament were in favour of "keeping the traditional definition of marriage". Abbott’s Liberal Party is opposed to same-sex marriages.
