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8. April 2017, 21:58

Banks in Cyprus re-open

Banks have re-opened in Cyprus after a nearly two week shutdown with tough capital controls imposed as part of the European Union and IMF bailout. A 300 euro limit has been set for daily cash withdrawals to prevent a run on the banks, and there are restrictions on transfers abroad and credit card transactions. This is the first time capital controls have been introduced in a Eurozone country. The Cypriot finance ministry says they will initially be in place for seven days. The head of one of the world’s biggest investment companies, Mohamed El-Erian, says the terms of the Cyprus bailout set a dangerous precedent. “It is changing perceptions around how safe a bank is. It is changing perception about vulnerabilities given how interconnected Europe is. So there is a major risk a depression Cyprus starts spreading financial and economic instability.” The Cypriot stock market meanwhile has remained closed.

Mandela is admitted to hospital

Former South African President Nelson Mandela has been admitted to hospital with a recurrence of a lung infection. A government statement said he was admitted shortly before midnight. Mandela, who is 94, led the struggle against apartheid and served as South Africa's first black president from 1994 to 1999.

Thailand starts peace talks with insurgents

Thai authorities and Muslim separatist leaders have started peace talks in the Malaysian capital, Kuala Lumpur, to try to end the Muslim insurgency in the south of Thailand that has killed at least 5,000 people. Five people were killed by insurgents in the 24 hours before the talks opened.

US confirms bomber flights over South Korea

The United States military says two nuclear-capable B-2 bombers have completed a training mission in South Korea. The statement is an unusual confirmation. It follows threats from North Korea that include nuclear strikes on Washington and Seoul.

Pistorius bail conditions eased

Lawyers for South African Olympic athlete Oscar Pistorius, who is charged with murdering his girlfriend, say he has successfully challenged the terms of his bail, and will be allowed to travel abroad. Pistorius denies murdering Reeva Steenkamp at his home in Pretoria last month. The state opposed the application to ease his bail terms.

US top justices query anti-gay law

In the United States, a majority of judges on the Supreme Court, in two days of hearings on gay rights, have raised questions over a federal law which defines marriage as solely between a man and a woman. Observers say the court appears to be leaning towards striking down legislation which denies benefits to married same-sex couples. A ruling is expected in June.

The weather

Mainly sunny, cloudier in the west with scattered showers. Top temperatures zero to 13 degrees.

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