Exxon Mobil Confirms It's Freezing Kurdistan Deal, Oil Minister Says
April 02 2012 11:44 AM
Exxon Mobil (NYSE:XOM) has confirmed its intention to freeze a controversial deal with the Kurdish government. That may lead Baghdad to let the U.S. company compete again for exploration contracts.
Iran Helps Syria Ship Oil To China; But Chinese Company Denies Report
March 31 2012 4:04 AM
Iran is helping Syria skirt the sanctions imposed on it by the US and other Western countries by providing it with a vessel to transport oil to China, Reuters has reported quoting sources.
Five Social Conditions That Could Collapse The U.S. Economic System
March 30 2012 10:51 PM
In a sense, the controversial radio talk-show host and former Fox News commentator Glenn Beck had it right: The United States could be headed for a major period of social unrest -- or worse -- but not for the reasons Beck stated.
President Obama OKs Iran Sanctions: Foreign Banks Targeted
March 30 2012 3:51 PM
U.S. President Barack Obama is moving ahead with sanctions against Iran's oil industry, in the hope that increased economic pressure will push Tehran into abandoning its nascent nuclear program.
Swedish Defense Minister Quits In Wake Of Saudi Weapons Plant Deal
March 29 2012 12:55 PM
The Prime Minister also praised the departing Tolgfors for shepherding the defense ministry during a period of spending cuts and consolidation.
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.