S. Korea Bans All Iranian Oil Imports From July
June 26 2012 10:27 AM EDT
The world's fourth largest importer of Iranian crude added it would seek supplies from elsewhere, rather than follow the example of Japan and offer sovereign insurance guarantees for tankers shipping Iranian crude.
Election of Muslim Brotherhood's Morsi Will Likely Improve Egypt?s Finances
June 25 2012 1:18 PM EDT
With the victory of the Muslim Brotherhood candidate in Egypt's presidential runoff, the world's largest Arab nation appears set not just for a transition to democracy but also for economic growth, Egyptian officials said Monday after the election results were announced.
Europe Has Three Days, Not Three Months, to Avoid 'Fiasco': Soros
June 25 2012 12:05 PM EDT
Multibillionaire financier George Soros, who is quickly becoming an éminence grise on the topic of the euro zone financial crisis, said in a televised interview Monday that the leaders of Europe had three days to resolve their disagreements on the appropriate way to move forward in anticipation of a summit Thursday.
'Vicious Cycles' Continue To Go 'Round And 'Round: BIS
June 24 2012 11:13 PM EDT
Five years into the most significant global financial crisis since the 1930s, the world's leaders have formulated neither the fiscal policies nor the monetary policies required to deal with it, according to the Bank for International Settlements' 82nd Annual Report, which was released Sunday.
Azerbaijan - A Repressive, Corrupt Country That The West Loves
June 23 2012 1:40 PM EDT
With all of its contradictions, Azerbaijan is a complex country to fully figure out: Its tangled friendships and autocratic policies are often puzzling as are its relations with the West. But its obsession with oil is as undiluted and unwavering as anything the country has ever done.
World Wealth Report 2012: Asians Top List Of Millionaires
June 21 2012 4:54 AM EDT
The millionaires in Asia outnumber their counterparts in North America for the first time while the overall financial wealth of high net worth individuals (HNWI) declined across all regions except the Middle East, according to a new study.
27 Million Slaves In The World: Hillary Clinton
June 20 2012 1:01 PM EDT
The State Department released its report ahead of the 150th anniversary of President Abraham Lincoln?s Emancipation Proclamation, which freed the slaves in the U.S. South in 1863.
Oil Rises After OPEC Maintains Current Production Ceiling
June 14 2012 2:56 PM EDT
Brent crude futures turned positive while U.S. oil extended gains on Thursday after news that OPEC had agreed to keep its collective oil output ceiling unchanged for the second half of the year at 30 million barrels per day, according to a delegate to the conference.
Nokia?s 10K Job Cuts, Management Changes Needed To Restore Competitiveness
June 14 2012 5:10 AM EDT
Finland-based cell phone manufacturer Nokia announced Thursday that it plans to cut 10,000 jobs globally as part of its revamping measures.
Wal-Mart Lists India, China Among The Most Corrupt Nations
June 13 2012 6:46 AM EDT
Wal-Mart lawyers have identified India, China, South Africa, Brazil and Mexico as the most corrupt countries, according to a letter from two congressmen investigating the bribery charges leveled against the company.
US Tightens Economic Noose On Iran, But China Wants No Part
June 12 2012 1:01 PM EDT
The U.S. singled out China on Monday in its effort to push the international community to place additional economic pressure on Iran.
OPEC Meeting Preview - Five Things You Should Know
June 12 2012 8:36 AM EDT
Leaders of the world's 12-member crude oil cartel gather this week in Vienna to discuss and perhaps set a production ceiling for the group in what is expected to rubber stamp the current state of affairs. It is also expected to feature a fierce tug-of-war between Saudi Arabia, the cartel's dominant producer, and Iran.
Facebook Falls Again: 3 Week Loss Is $48 Billion
June 07 2012 4:56 PM EDT
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell nearly 2 percent on Thursday, exactly three weeks after the company took in $16 billion in its initial public offering.
Clinton Talks Peace, Democracy, Security And Oil In South Caucasus Tour
June 06 2012 9:54 AM EDT
Clinton is scheduled to meet with Azerbaijani President Ilham Aliyev and attend an energy forum. Azerbaijan is an increasingly important oil producer and a crucial regional Western ally against Iran.
Air India Gets Cash Boost Of $215 Million To Pay Salaries, Dues
June 05 2012 7:02 AM EDT
In an effort to revive the debt-ridden Air India, the government pumped in Rs. 1,200 crore ($215 million) as equity on Monday, to be put to use in paying employee salaries and vendor dues.
Big Data? Vast Majority Isn?t Prepared, New Survey Shows
June 05 2012 6:30 AM EDT
Global enterprises are aware of the coming of so-called ?Big Data,? or the trillions of bytes of electronic data flowing through the Cloud and Internet.
Sneaking Your Money Across Borders: Capital Flight On The Rise
June 04 2012 4:24 PM EDT
An increasing number of people are trying more ways to sneak money out of countries that are buckling under the weight of the world's almost daily financial crises.
Clinton In Armenia To Urge Peace Talks With Azerbaijan
June 04 2012 10:56 AM EDT
She will journey to Georgia on Tuesday, travel to Azerbaijan on Wednesday, and then move on to Turkey.
As Israel And Cyprus Ally Over Energy, The Rest Of The Region Feels The Aftershock
June 02 2012 3:02 PM EDT
The recent discoveries of gas in the eastern Mediterranean creates a whole new energy paradigm for two nations -- Cyprus and Israel -- which formerly were believed to possess no natural resources at all. Their subsequent alliance has further upset the geopolitical balance in the Near East.
Post-Arab Spring Travel And Tourism In The Middle East: A Country-By-Country Look
June 01 2012 11:03 AM EDT
It has been 18 months since the Arab Spring swept through the Middle East, and, while some nations have emerged with a renewed spirit, others have plunged into daily violence. Here's a country-by-country look at travel and tourism in the region as it stands now.