TEHRAN (AFP) - Iran on Sunday announced an upward revision of its annual budget, as a rise in oil prices appeared to mitigate the impact of international sanctions on its economy.

BERLIN (AFP) - As the spectre looms ever larger of a Greek exit from the euro zone, economists have been making highly complex calculations of how much that bombshell would cost - with estimates as high as US$1 trillion (S$1.28 trillion).

HONG KONG (AFP) - Macau is still holding all the aces as the world's casino capital despite a slowdown in the Chinese economy, analysts said ahead of an international gaming expo in the former Portuguese colony.

NEW YORK(AFP) - United States stocks slumped on Friday as Facebook's keenly awaited market debut disappointed, adding to bearish sentiment about Europe's financial woes.

NEW YORK (AFP) - Facebook stumbled in its first trading day on Friday as shares ended barely above the starting price after a glitch-plagued market debut on the Nasdaq that failed to live up to the enormous hype.

Stock markets across Asia plunged to their lowest levels in four months on Friday as Greece's debt crisis and increasing concern over shaky Spanish banks triggered a savage sell-off.

NEW YORK (AFP) - United States (US) stocks opened higher on Friday as investors awaited the historic market debut of Facebook, with Europe's financial crisis momentarily receding from view.

Singapore shares closed lower on Friday, with the benchmark Straits Times Index at 2,779.10 down 1.54 per cent, or 43.51 points.

MADRID (AFP) - Madrid share prices tumbled 2.28 per cent in opening trade on Friday, with banking stocks falling moderately after Moody's Investors Service downgraded 16 institutions.

HONG KONG (AFP) - Asian markets resumed their downward trend on Friday as the euro zone debt crisis was stoked by a ratings downgrade for Greece and 16 Spanish banks, while weak United States (US) data added to the pessimism.

In celebration of its 167th birthday, The Straits Times (ST) will hold a carnival and concert at the newly-opened Gardens by the Bay on Sunday, July 15, as part of its efforts to deepen engagement with its readers and the community.

NEW YORK (AFP) - Struggling Hewlett-Packard (HP) will unveil a vast restructuring plan next week that will include axing about 30,000 jobs, Dow Jones's AllThingsD reported on Thursday.

NEW YORK (AFP) - Facebook on Thursday set in motion the richest-ever share offering for a technology firm, raising US$16 billion (S$20.3 billion) in an operation valuing the world's biggest social network at US$104 billion.

US stocks lose over 1% on Europe fears NEW YORK (AFP) - United States (US) stocks piled up losses on Thursday as negative news continued from Europe, with Greece's woes deepening and Spain falling into recession.

LONDON (AFP) - British insurer Aviva on Thursday said it planned a strategic review of all its businesses and to strengthen its capital base after the recent resignation of its chief executive officer.

MADRID (AFP) - Spain tumbled into recession and European stock markets fell on Thursday as Greece installed a crisis government to tackle its crippling debt and top EU leaders prepared for crisis talks.

WASHINGTON (AFP) - Billionaire Warren Buffett's holding company unveiled plans on Thursday to pour millions into a chain of small newspapers, saying they represent 'an important institution' for communities.

TEHRAN, Iran (AP) - Iran's parliament on Thursday signed off on a US$462 billion (S$586 billion) budget bill for the current Iranian year that is about 9 per cent less than the budget approved in the previous calendar year, a consequence attributed to the new exchange rate of the United States (US) dollar.

LONDON (AP) - British Prime Minister David Cameron on Thursday urged Europe to sort out its currency crisis, calling on the 17-country euro zone 'to make-up or it is looking at a potential break-up'.

Singapore shares closed lower on Thursday, with the benchmark Straits Times Index at 2822.61, down 0.30 per cent, or 8.54 points.