- Oil Drops After Saudi Oil Minister Says Prices Are Too High
March 29 2012 12:33 PM
We want to correct the myth that there is, or could be, a shortage, Ali al-Naimi wrote, noting fears of a global oil shortage. It is an irrational fear, a fear without basis.
- North Korea Begins Fueling Rocket, Stays On Course For Mid-April Launch
March 29 2012 4:25 AM
North Korea has started fueling a rocket, moving a step closer to its controversial launch mid-April, a Japanese newspaper has reported.
- BRICS Summit: Emerging World Powers Aim to Boost Trade, Set Up Development Bank
March 29 2012 12:44 AM
Leaders of the top five emerging world powerhouses, Brazil, Russia, India, China and South Africa (BRICS), will kick off a two-day summit in the Indian capital today, eyeing increased trade cooperation and seeking common ground on the plan to set up a development bank.
- Turkey’s Erdogan Defends Iran’s Pursuit of “Peaceful” Nuclear Program
March 28 2012 3:31 PM
Erdogan spoke optimistically about the resumption of nuclear negotiations.
- BRICS: A Profile Of The World's Emerging Powerhouses
March 28 2012 12:16 PM
Within three years, the combined GDP of Brazil, Russia, India, China and South Africa is forecast to exceed that of the United States. China is expected to become the world's No. 1 economy by 2027.
- Abu Dhabi Invests $2 Billion In Brazil's EBX
March 27 2012 2:01 AM
Mubadala Development Company, Abu Dhabi's state investment fund, said Monday that it will invest $2 billion in the EBX group of Brazil.
- Coalition Plans RBS Stake Sale to Abu Dhabi Investors
March 27 2012 12:06 AM
British taxpayers may take billion-pound hit if plans go ahead to sell off up to a third of stake in RBS to sovereign wealth investors in Abu Dhabi.
- Obama Nominates Dartmouth’s Kim To Head World Bank
March 23 2012 9:49 AM
Kim, 52, will be the first physician to head the bank and the second U.S. nominee to have been born abroad. He has served as Dartmouth College's president since 2009.
- Global Inflation 'Disaster' Coming, Economist Andy Xie Warns
March 23 2012 8:34 AM
The MIT-trained Xie accurately predicted Japan's asset bubble of the 1980s, the 1997 Asian financial crisis, the deflation of the dot-com bubble and the U.S. subprime mortgage crisis.
- Saudis Prompt Oil Price Intervention By Huge Tanker Charters
March 22 2012 5:24 PM
Saudi Arabia's Saudi Aramco has chartered 11 oil tankers, doubling its fleet, to better control the price of oil. The tankers are en route to the U.S. in a bid to lower oil and gas prices.
- Ex-Fed Chair Volcker Backs Term Limits For Audit Firms
March 22 2012 9:58 AM
Former Federal Reserve Chairman Paul Volcker backed a controversial proposal to impose term-limits for audit firms on Wednesday, saying it would serve as a powerful incentive to maintain professional discipline.
- Developing Nations To Name 2 Candidates To Head World Bank
March 21 2012 8:51 AM
Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market efforts to find candidates said on Tuesday.
- Saudi Oil Minister Ali al-Naimi Ready To Lift Crude Output, Calls Current Prices 'Unjustifiable'
March 20 2012 1:13 PM
Ali al-Naimi says current crude prices not justified by global economic conditions
- Saudi Arabia Moves To Hike Oil Output Amid Iran Tension
March 20 2012 9:55 AM
Saudi Arabia produced 9.87 million barrels of crude oil per day in January, the second-highest level in three decades, according to official data released Tuesday.
- Will Egypt Secure $3.2 Billion IMF Loan?
March 20 2012 12:30 AM
An IMF team has arrived in Cairo Monday for talks, on a $3.2 billion loan facility for Egypt. This can be a crucial meeting especially as collapse in investor confidence since last year’s revolution has left Egypt on the brink of a balance of payments crisis according to Capital Economics.
- Israel Agrees to U.S. View on Iran; Does it Mean No Military Strike Soon?
March 19 2012 9:24 AM
The Israeli officials have agreed with the U.S. assessment that Iran has not yet decided on the actual construction of a nuclear bomb, the Associated Press reported quoting senior Israeli government and defense figures.
- Global Economy on Recovery Path: IMF
March 17 2012 11:46 PM
Though there are signs of recovery, the debt crisis in the developed markets and rising oil prices add to the risk factors looming large over the global economy.
- Global Youth Unemployment Rate Staggeringly High: ‘Lost Generation’ Feared
March 16 2012 8:13 PM
The current, unprecedented level of global youth unemployment has raised the risk of creating a lost generation, Nemat Shafik, deputy managing director of the International Monetary Fund, wrote in a blog post Thursday.
- Israeli Minister Tells China Strike On Iran Isn't Ruled Out
March 16 2012 3:03 PM
Israel's foreign minister said Friday in Beijing that his country hopes to resolve a nuclear standoff with Iran through diplomatic means. China has close ties to both Israel and Iran.
- US, UK Agree To Emergency Oil Release
March 15 2012 12:12 PM
Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices from derailing economic growth in an election year.