The business environment is composed of many international players that bring with them their culture and their values. In this article, the business cultures of the Chinese, Greeks, Indians, and Americans are discussed.
Greece Economy 2015 — The Greek economy continues to face challenges as it re-stabilize its financial systems following the crisis and nation’s stock market shutdown. Though Greece and its lenders were optimistic on Tuesday that they could broker a deal amid the multibillion-euro bailout, bank shares have dropped again.
On Tuesday, Greek bank stocks are expected to suffer more losses following a five-week stock market shutdown caused by the nation’s financial crisis. On the first day of trading, the shares took a 30 percent plunge.
Following a three-week forced shutdown caused by a financial crisis, Greek banks finally reopened their branches across the country on Monday. However, transaction restrictions on cash withdrawals are still in effect.
Greece intends to make good on its debt obligations but needs aid urgently to be able to do so, the government said on Monday, after several senior officials insisted Athens had no money to pay a loan installment falling due next week.
Greece expects to reach a cash-for-reforms deal with its creditors in the next 10 days and aims to meet all its payments in June, the government's spokesman said on Friday, after the prime minister met with EU leaders.
European shares fell on Monday, weighed down by worries over a looming cash crunch in Greece, while the dollar rebounded after concern over the U.S. economy drove the currency to four-month lows on Friday.
Greece demanded on Monday that euro zone finance ministers acknowledge progress in fraught negotiations on a cash-for-reform deal, hoping to unlock short-term borrowing to ease its acute financing crunch.
The European Central Bank's Governing Council on Wednesday may nudge up the amount of Emergency Liquidity Assistance teetering Greek banks can borrow, as Athens struggles to avert a potentially catastrophic funding crunch.
Greek Deputy Prime Minister Yannis Dragasakis meets European Central Bank President Mario Draghi on Tuesday, as his government seeks financial breathing room to prevent a default and stay in the euro.
Greek Prime Minister Alexis Tsipras said on Tuesday he was confident of an early deal with international creditors, after shaking up his negotiating team and sidelining his outspoken finance minister who has infuriated euro zone partners.
World stocks climbed back toward all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default.
European Central Bank staff have prepared a proposal to increase the haircut on the security that Greek banks offer in return for emergency liquidity, Bloomberg reported on Tuesday, citing people with knowledge of the discussions.
Global stock markets had a mixed start to the week on Monday and core bond yields fell as investors juggled Chinese steps to stimulate its slowing economy and a proposed telecoms deal in Europe with growing worries Greece may default.
Global lenders' negotiations with Greece, which have been moving at a crawl recently, have gained some momentum but remained a long way from the finish line, the International Monetary Fund's European head told a German newspaper.