- 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.
- Developed World GDP To Rev-Up In 2012 On Monetary Intervention: Poll
March 14 2012 11:56 AM
Developed economies will pick up steam this year thanks to an array of ultra-loose monetary policies from major central banks and amid new signs of progress in the euro zone's debt crisis, a Reuters polls found.
- Global Warming: Surging Sea Levels Threaten U.S. Coasts: Study
March 14 2012 11:23 AM
Global warming is going to affect several coastal states in the U.S., as the sea level is projected to rise up to 8 inches in the coming decades, according to a new study.
- US Asks Saudis To Boost Summer Oil Output
March 13 2012 3:03 PM
The U.S. is seeking additional oil output from Saudi Arabia to fill a lack of supply arising from upcoming Iranian sanctions, but likely won't need the boost until July, when the EU plans to embargo Iranian crude oil.
- Fed Keeps Rates The Same, Still Sees 'Risks' To Recovery
March 13 2012 2:25 PM
The U.S. Federal Reserve Tuesday kept short-term interest rates the same, between 0 percent and 25 percent, and also maintained its existing quantitative easing policy, with no change in its low rates though at least late 2014.
- US Asks Saudi Arabia To Boost Oil Output For Summer
March 13 2012 12:42 PM
The United States is pressing Saudi Arabia to boost oil output to fill a likely supply gap arising from sanctions on Iran, Gulf oil officials said, adding that an increase in production is unlikely to be needed before July.
- Exxon Mobil Has Days To Explain Kurdish Deal
March 09 2012 4:58 PM
U.S. oil and natural gas giant Exxon Mobil has days to explain its recent exploration deals the company struck in Kurdistan back in November.
- WTO Judges Fault Boeing Subsidies: Sources
March 09 2012 3:32 PM
The World Trade Organization has broadly upheld a ruling that Boeing Co (BA.N) took billions of dollars of unfair subsidies, breathing new life into an epic trade spat that has already faulted European aid to Airbus, people familiar with the matter said.
- IBT1000: Nakilat Shippers of the World's Natural Gas
March 09 2012 2:11 PM
War's shadow looms over the Strait of Hormuz, and for one company in Qatar, the disruption of shipping traffic of the Strait could very well mean the end of its business.
- OPEC Pumps Record Volumes Despite Iran Slide
March 09 2012 8:40 AM
Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.