Greece reaches deal

ATHENS: Greece announced on Friday it had reached a deal with its international creditors on the latest set of reforms needed to receive another tranche of one billion euros in much-needed bailout loans. “We have reached an agreement for this cycle,” Finance Minister George Stathakis told reporters after a meeting with the country’s quartet of creditors — the European Commission, the European Central Bank, the International Monetary Fund and the EU’s bailout fund, the European Stability Mechanism. This round of funding was contingent on reaching an agreement on the terms of a privatisation fund and the sale of electricity distributor Admie.