Latest stories
Market Has Capacity to Absorb Higher Oil Prices, Says Saudi Minister

Saudi Energy Minister Khaled al-Faleh said on Friday the global market has the capacity to absorb higher oil prices after crude made a strong recovery.

W140 Full Story
Russia Sees 'Solid Foundation' for Extending Oil Alliance

Russia said there was a "very solid foundation" for extending cooperation between OPEC and non-OPEC countries at a meeting Friday of oil producers in Saudi Arabia.

W140 Full Story
Asian Markets Fall in Line with Wall St as Tech Firms Take a Hit

Asian markets mostly fell Friday as investors struggled to maintain the previous day's positive momentum following losses on Wall Street, with technology firms tracking a sharp fall in Apple.

W140 Full Story
Widespread Mobile Phones Can Deliver Banking to the Poor

The spread of mobile phones to all corners of the world offers the opportunity to deliver banking services to poor and rural areas, improving lives, the World Bank says in a report Thursday.

Access to a bank account can especially help women, who are more likely to save and to spend on healthcare and education, World Bank economist Leora Klapper told AFP.

W140 Full Story
IMF's Lagarde Warns against Harming Trade, Investment, Key Growth Engines

Governments must take care, even when there are disagreements, to avoid harming trade and investment which have been key drivers of the global economic recovery, IMF chief Christine Lagarde said Thursday.

W140 Full Story
Oil Price Soars to Highest Level in Years on Mideast Woes

Oil surged Thursday close to 3.5-year peaks on simmering Mideast tensions and keen U.S. demand, while London stocks rose with drugmaker Shire boosted by a takeover move.

World oil prices extended Wednesday's gains on the back of data showing a drop in U.S. stockpiles -- indicating improved demand -- and expectations that a Russia-OPEC output cap deal will be kept in place.

W140 Full Story
Saudi-Russia Oil Alliance Likely to Undercut OPEC

Saudi Arabia hopes to bring Russia into the fold of an expanded club of global oil giants to sustain a stable market, leaving OPEC's role in question, analysts say.

W140 Full Story
Europe Stocks Rise on Upbeat Global Mood as Weak Pound Lifts London

Europe's major stock markets rose Wednesday after solid gains elsewhere, with London buoyed by the weak pound as UK inflation dived to a one-year low.

W140 Full Story
Belgian Firms 'Exported Nerve Agent Precursor to Syria'

Three Belgian companies are facing prosecution for allegedly exporting a chemical that can be used to make the deadly nerve agent sarin to Syria, in breach of international sanctions, officials said Wednesday.

W140 Full Story
IMF Warns of Risks as Central Banks Tighten

The International Monetary Fund urged central banks Wednesday to take a gradual and transparent approach to tightening monetary policy, warning that unexpected moves could shock the global economy.

W140 Full Story