Latest stories
Iran to Sign Oil and Gas Deals with Total, Shell

Iran was set to sign preliminary agreements with Total and Shell Wednesday to develop major oil and gas fields as it seeks to boost its output, an oil official said. 

The deals include a $10-12 billion expansion of the South Azadegan oil field and another project at the Yadavaran oil field, both in southwestern Iran, as well as an offshore gas field near Kish Island in the Gulf. 

W140 Full Story
SoftBank Shares Soar after Trump Boasts of $50 bn Deal

SoftBank shares soared Wednesday after US President-elect Donald Trump said the Japanese telecoms giant would invest $50 billion in business and job-creation in the United States.

The Tokyo-listed firm jumped more than five percent after the opening bell, hours after the tycoon announced the deal, while wrapping an arm around SoftBank's flamboyant billionaire founder Masayoshi Son.

W140 Full Story
Qatar to Spend $13bn on 'Mega Projects' in 2017

Qatar will invest up to $13 billion in major infrastructure projects next year despite a slump in revenues resulting from low energy prices, the Gulf state's finance minister said on Tuesday.

W140 Full Story
British PM Joins Gulf Summit for Post-Brexit Trade Talks

British Prime Minister Theresa May is to join Gulf Arab leaders gathered for a summit in Bahrain on Tuesday for talks on trade after Britain's exit from the European Union.

May is the first British premier and the first woman to attend the annual summit of the six oil-rich Gulf Cooperation Council states.

W140 Full Story
Russia Says OPEC, non-OPEC Members to Meet Saturday in Vienna

Russia's energy ministry said Tuesday that OPEC and non-OPEC members would meet in Vienna Saturday following a decision to cut global oil output.

The ministry told AFP that Russian Energy Minister Alexander Novak would be taking part in the meeting, which comes after Moscow said it was ready to reduce crude output by 300,000 barrels a day in the first half of 2017. 

W140 Full Story
Italian Banks on Knife Edge as Renzi Quits

The fate of key Italian banks was up in the air Monday as investors feared that Prime Minister Matteo Renzi's resignation will threaten their recapitalization plans.

W140 Full Story
European Markets Bounce Back from Renzi-Sparked Losses

European stocks and the euro rebounded sharply Monday as investors were reassured by the speed of Italian Prime Minister Matteo Renzi's resignation after losing a crunch referendum.

The region's markets began the day in negative territory, with Milan tumbling two percent, but recovered somewhat with sentiment soothed also by the defeat of the far right in Austria's presidential election.

W140 Full Story
Nutella Maker Ferrero Spreads into Biscuits

Nutella maker Ferrero said Monday it had bought Belgium's Delacre for an undisclosed sum as it seeks to spread from chocolates to biscuits.

W140 Full Story
Italy Vote Won't Trigger New Euro Crisis, Ministers Say

The eurozone will not be plunged back into crisis by Italy's referendum vote and the resignation of Prime Minister Matteo Renzi, ministers from the single currency area insisted Monday.

W140 Full Story
China Criticizes U.S. Decision to Block Aixtron Deal

China Monday criticized a US.. decision to block a Chinese company's purchase of German semiconductor equipment maker Aixtron, saying business should not be politicized.

W140 Full Story