Oil giant Saudi Aramco said on Monday it has restored its main internal network after a cyber-attack nearly two weeks ago which failed to impact its oil production.
The company "restored all its main internal network services that were impacted on August 15, 2012, by a malicious virus that originated from external sources," said a statement on its website.Full Story
Nile cruises from Egypt's capital Cairo to Luxor resumed over the weekend after being halted 18 years ago because of security concerns.
A ceremony marking the resumption of cruises from the capital was held in Luxor, the mecca of Egyptian tourism, after the arrival of a vessel from Cairo.Full Story
Crude prices surged in Asia Monday as supply of oil and gas from the Gulf of Mexico was curtailed after Tropical Storm Isaac forced the closure of production facilities in the region, analysts said.
New York's main contract, light sweet crude for October delivery soared $1.03 to $97.18 a barrel in the afternoon and Brent North Sea crude for delivery in October gained $1.25 to $114.84.Full Story
Ratings agency Moody's Investors Service Monday upgraded South Korea's sovereign credit rating, citing strong fiscal fundamentals and resilience to external economic shocks.
Moody's lifted South Korea's government bond rating by one notch to Aa3 from A1, saying their balance sheet has been relatively unscathed by the global slowdown and the Eurozone financial crisis.Full Story
French President Francois Hollande said Saturday after talks with the Greek prime minister that crisis-wracked Greece must stay in the Eurozone but first needed to prove it is determined to slash its budget deficit.
"Greece is in the Eurozone and Greece must stay in the Eurozone," Hollande said at a joint press conference with Antonis Samaras at the Elysee palace.Full Story
Spain's government denied Friday that it had entered negotiations for a sovereign rescue, which would make it the largest victim so far of the Eurozone crisis.
Deputy Prime Minister Soraya Saenz de Santamaria repeated to journalists a denial issued earlier in the day in Brussels by a spokesman for European Commissioner for the euro Olli Rehn.Full Story
International agency Standard & Poor's on Friday affirmed the Czech Republic's foreign and local currency sovereign credit ratings and said the export-reliant country's economic outlook was stable.
S&P said it was sticking to its long-term foreign currency rating of "AA-," while the local currency rating would stay at "AA."Full Story
U.S. prosecutors are looking into whether British bank HSBC was involved in laundering money for Mexican drug cartels, The New York Times reported Saturday.
Citing unnamed federal authorities with direct knowledge of the investigations, the newspaper said the investigators were also probing whether HSBC circumvented U.S. law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.Full Story
After urging the IMF to reform, the United States has been dragging its heavy feet and blocking, in fact, proposals aimed at giving emerging economies more say in the global lender.
The U.S., by far the biggest stakeholder in the 188-nation International Monetary Fund, is the only member of the Group of Eight that has yet to ratify a quota hike that would double its permanent resources to about $767 billion and executive board reforms that would strengthen the role of emerging economies.Full Story
The euro traded in a tight range in Asian trade Friday ahead of a closely watched meeting between German Chancellor Angela Merkel and Greek Prime Minister Antonis Samaras over financial aid for Athens.
The European common currency bought $1.2559 and 98.69 yen in Tokyo afternoon trade, hardly changed from $1.2562 and 98.59 yen in New York late Thursday.Full Story