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Iran Says Saudi Claims to Replace Its Oil 'Unbelievable'

Iran's oil minister said on Monday that the market will never believe "exaggerated" claims by Saudi Arabia that it can replace Iranian oil shipments lost due to renewed U.S. sanctions.

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U.S. 'Green Growth' Duo Win Nobel Economics Prize

U.S. economists William Nordhaus and Paul Romer on Monday shared the 2018 Nobel Economics Prize for constructing "green growth" models that show how innovation and climate policies can be integrated with economic growth.

Working independently, they have addressed "some of our time's most basic and pressing questions about how we create long-term sustained and sustainable growth," the Royal Swedish Academy of Sciences said in a statement.

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IMF Gathers in Quake-Battered Indonesia to Focus on Global Economic Tremors

Rising protectionism, vulnerable emerging markets and record debt levels: The IMF holds its annual meeting this week in earthquake-stricken Indonesia, as it shines a light on tremors in the global economy.

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Saturated Lisbon Airport Puts Portugal Tourism Boom at Risk

A record number of passengers using Lisbon's airport is proving a bittersweet achievement as daily delays and a lack of space to park planes threatens to strangle the goose laying golden eggs for Portugal's economy.

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Cheese Squeeze: Japan Cheesemakers Fret over EU Trade Deal

It was three decades ago, but Kazuhiko Ochiai still remembers his first taste of cheese when he visited France, a palate pleaser that inspired the former researcher to start producing his own variety in Japan.

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Sudan Sharply Devalues Currency as Economic Crisis Bites

Sudan slashed the official value of its currency against the U.S. dollar by more than half on Sunday, the third devaluation this year in the face of a mounting economic crisis.

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IMF Calls for More Action in Pakistan, But No Word on Bailout

The International Monetary Fund has called on Pakistan’s new government to act fast to stabilise its teetering economy, warning growth will likely slow and inflation rise, but made no mention of a new bailout deal.

Former cricketer Imran Khan’s new administration had vowed to decide by the end of September if it would seek an IMF bailout to shore up the economy as it faces a balance-of-payments crisis and dwindling reserves.

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Pressure on Duterte as Philippine Inflation Jumps

Philippine inflation jumped to an almost 10-year high in September, data showed Friday, putting pressure on President Rodrigo Duterte to act as the cost of food and fuel hit the country's poor in the pocket.

Consumer prices have risen every month this year, with food surging further after Typhoon Mangkhut, the world's most powerful storm in 2018, smashed into the country's northern agricultural heartland in mid-September.

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German Industrial Orders Bounce Back in August

New orders for German industrial firms booked a strong rebound in August from a slip in July, official data showed Friday, brightening the outlook for the second half of the year.

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EgyptAir Stands by 'Surreal' Drew Barrymore Interview

EgyptAir stood by its story Thursday after U.S. actress Drew Barrymore's spokesperson denied she took part in an interview with the airline's in-flight magazine that went viral over its bizarre content.

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