Three people were killed in a firebomb attack on a bank in Athens yesterday as violent protests against austerity measures hurled Greece into chaos and fuelled global market fears that Europe's debt crisis may be spiralling out of control.
Police said two women and one man burned to death in a branch of the Marfin-Egnatia bank after masked demonstrators set it ablaze with firebombs.
A government building next door was also set alight. Earlier, authorities had declared a state of emergency in the Greek capital as hundreds of demonstrators tried to storm the parliament building and fought running battles with riot police.
Police fired tear gas canisters to disperse stone-throwing rioters. More than 100,000 people had marched through Athens to demonstrate against pension cuts, wage freezes and tax increases announced by the government in return for a ?110 billion (Dh523bn) aid package from the EU and IMF to stave off a Greek debt default.
Thousands also demonstrated in other Greek cities and workers across the nation held a general strike, bringing airports, tourist sites and public services to a standstill. The news of the three deaths shocked the nation and a ghostly calm had descended on the Greek capital by the late afternoon.
The protests unsettled world markets and pushed the euro single currency down below US$1.29 to its lowest levels in more than a year as investors speculated that Greek public opposition to the cutbacks might make it impossible for the government to gets its finances in order.
Meanwhile, German finance officials warned that the euro zone was under attack from financial speculators and that the crisis could spread to Spain and Portugal, two euro zone members also struggling to cope with large budget deficits.
Angela Merkel, the German chancellor, said Europe's future was at stake in the crisis.
"This is about nothing less than the future of Europe and thereby the future of Germany in Europe," she said in a statement to parliament.
"Europe is at a crossroads."
Speaking during the first hearing in parliament for emergency legislation to approve ?22.4 billion in German aid for Greece in the next three years, Mrs Merkel said bailing out Greece was essential for the stability of the single currency.
business@thenational.ae
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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Qosty Byogaani
Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
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Killing of Qassem Suleimani
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Killing of Qassem Suleimani
THREE
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
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Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
