Russia has agreed to extend the term of its loan to Cyprus and reduce the interest rate to provide additional financial relief to the island. At the same time Olli Rehn laid much of the blame for Cyprus’s problems on its previous government.
The World Trade Organisation named Roberto Azevedo as its new head. The Brazilian diplomat will be the first BRICS representative in this position.
French president François Hollande celebrated his first anniversary in office. He insisted he remains committed to rejuvenating the economy. But critics say it was a bad year.
We’ll discuss all this with Nejra Cehic from Bloomberg later in this edition of Business Weekly.