EUROPEAN UNION

Both the center-right New Democracy and the center-left Pasok parties could be in for beatings on Sunday as Greece conducts its first general parliamentary elections since the country's sovereign-debt crisis mushroomed in late 2009.

Unlike in France, where voters choose between two distinct candidates (conservative Nicolas Sarkozy and Socialist Francois Hollande), the Greek election is more complicated.

The European Central Bank made a show of that organization's immense political and economic force Thursday, rattling world markets with news it had not even considered lowering benchmark euro lending rates and, more provocatively, having its top banker lecture European politicians on the eve of what are expected to be decisive election in two European countries.

Up until now, India had adamantly opposed sanctions against Iran.

The French had one chance of seeing a debate between the two men facing off for the presidency. On Wednesday, they certainly got a lively confrontation.

Data from consultants JBC Energy showed Iran's output fell by 150,000 barrels per day over a two-month period, hitting a 20-year-low of 3.2 million barrels in April.

Motorola Mobility Holdings (Nasdaq: MMI) won a patent ruling in Germany that bans Microsoft (Nasdaq: MSFT), the world's biggest software company, from selling Windows 7 and other products.

The United States condemned the alleged mistreatment of jailed politician Yulia Tymoshenko in Ukraine on Tuesday and called for her release.

Sanctions, if approved by the Security Council, would mean asset freezes and bans on foreign travel.

The Chinese are benefiting from advances in transportation and communication, as well as policies established by the government,

The ultra-nationalist Chrysi Avgi (?Golden Dawn?) party ? which Greek and European media sometimes label as a Neo-Nazi organization -- is expected to gain 5 percent of the total vote, well above the 3 percent minimum required for entering parliament.

Indian State run insurance companies will indemnify local ships carrying Iranian oil, enabling the country import oil from Iran, Reuters reported quoting Shipping Corp of India director.

In protest, Le Pen declared she will cast a blank ballot in the May 6 poll.

The move would nullify planned sanctions banning EU-based ship insurers and re-insurers -- who cover 90 percent of the world's tankers -- from covering vessels carrying Iranian crude, the head of China's shipowners' association.

Keeping up an old tradition, Germany has threatened to boycott the upcoming Euro 2012 soccer tournament in protest of the imprisonment and alleged mistreatment of Ukrainian opposition leader Yulia Tymoshenko.

Europe's chronic financial and economic troubles threaten to reach a critical level in May as warning signals emerge from the continent's core and its southern periphery.

China's economic relationships with Eastern Europe are deepening. Although the Asian power's trade with the former Communist bloc often goes unnoticed in the Americas, it has increased significantly in recent years.

Jailed former prime minister Yulia Tymoshenko continues a hunger strike to protest prison abuse while doctors say she also suffers from a chronic back condition that is unable to be treated in Ukraine.

A series of at least four explosions shook the Ukrainian city of Dnepropetrovsk on Friday afternoon, injuring at least two dozen people in what authorities now suspect are terrorist attacks.

Asian shares rose on Friday, tracking U.S. stocks which jumped overnight on strong U.S. housing data and earnings, but concerns over the health of European banks weighed on investor risk appetite after Standard & Poor's downgraded Spain's rating.

Asian shares inched up Friday, tracking U.S. stocks which jumped overnight on strong U.S. housing data and earnings, but concerns over the health of European banks weighed on investor risk appetite after Standard & Poor's downgraded Spain's rating.