Kuwait’s oil Minister Mohammad al-Baseeri said on Tuesday that OPEC will likely keep its official production quotas unchanged, while Iran’s oil minister Rostam Qasemi said that they would reach consensus over its latest output decision, in contrast to its last meeting which was hit by deep division among cartel members.
Qasemi had told reporters on arrival in Vienna, where the 12-nation Organization of Petroleum Exporting Countries holds its production meeting on Wednesday, "Whatever the decision will be, it will be made all together."Full Story
Fast-growing Gulf carrier Etihad Airways says it is buying 10 more of Boeing's new 787-9 planes, making it the largest customer for that version of the aircraft.
Etihad said on Monday it is also ordering two Boeing 777 cargo planes.Full Story
A South Korean developer said Monday it would not alter the design of a twin-tower project despite complaints in the United States that it mimics the explosions at New York's World Trade Center in 2001.
The towers, one with 54 floors and the other with 60, are designed by Dutch architects MVRDV and will be built at the entrance to Seoul's redeveloped Yongsan business district by 2016.Full Story
The euro fell against other major currencies in Asia on Monday as investors awaited further details on measures to tackle the Eurozone debt crisis following an EU summit deal struck last week.
The euro bought $1.3340 and 103.57 yen in Tokyo afternoon trade, down from $1.3384 and 103.93 yen late Friday in New York, where the common European currency rose on the tentative fiscal pact struck by European Union leaders.Full Story
Oil weakened in Asian trade Monday as investors remained cautious despite European leaders announcing a deal aimed at saving the Eurozone, analysts said.
New York's main contract, light sweet crude for January delivery, dropped 25 cents to $99.16 a barrel and Brent North Sea crude for January delivery fell 39 cents to $108.23.Full Story
Thousands of Italian women rallied on Sunday, demanding greater rights and an end to discrimination and blaming the country's "macho culture" for its current crisis.
Their demonstration follows on from mass protests in February when women said "basta" to then-president Silvio Berlusconi, known for his playboy antics and now on trial for paying for sex with a 17-year-old escort.Full Story
The head of China's central bank says the country will implement changes to its financial system suggested by the International Monetary Fund "as appropriate", the Washington-based lender said.
People's Bank of China (PBOC) governor Zhou Xiaochuan told a joint PBOC-IMF symposium held Friday and Saturday in Shanghai that international financial standards were "critical" to reducing risk, the IMF said in a statement.Full Story
British Prime Minister David Cameron faced searching questions Saturday over his veto of a new EU treaty to solve the Eurozone crisis, despite receiving a hero's welcome from his party's lawmakers.
Cameron hosted a dinner for a number of Conservative MPs on Friday night at his country residence after he returned from a summit in Brussels where he took the historic step, his Downing Street office told Agence France Presse.Full Story
Japan is extending tax breaks for low-polluting vehicles by another three years to help support the nation's mainstay auto industry.
The tax breaks, initially set to end in April, will continue until April 2015, according to a plan approved by the Cabinet on Saturday.Full Story
China's exports slowed in November, data released Saturday showed, raising the likelihood of further measures from Beijing to help prop up faltering growth and offset slack demand in the U.S. and European markets.
Exports rose 13.8 percent to $174.5 billion in November, a decline from 15.9 percent growth in October, while China's overall trade surplus plunged 35 percent from a year earlier, to $14.5 billion, Customs statistics said. Imports gained 22.1 percent to $159.9 billion, down from the previous month's 28.7 percent rise.Full Story