Latest stories
India to Open Stock Market to Foreign Individuals

India will allow individual foreign nationals to invest directly in its stock market in a bid to attract more funds and reduce market volatility.

The announcement late Sunday follows a year of large losses on the Sensex, India's benchmark index. The new regulations will come into effect January 15.

W140 Full Story
Turkey Export Growth Hits Record in 2011

Turkey's exports increased by a record 18.2 percent in 2011, reaching $134.6 billion, Economy Minister Zafer Caglayan said on Monday.

"This is a record in the history of the republic," the minister was quoted as saying by the Anatolia news agency.

W140 Full Story
68 Occupy Wall Street Protesters Arrested

New York police arrested 68 Occupy Wall Street protesters overnight after activists poured back into the Manhattan square where their movement started last year, police said Sunday.

The arrests included one man held after allegedly stabbing a police officer in the hand with scissors.

W140 Full Story
Salameh: Wage Hike Would Require Liquidity Measures

Central Bank governor Riyad Salameh has warned that the cabinet’s wage boost decision could lead to a rise in inflation which already reached 4 percent in 2011.

In remarks to LBC TV on Sunday, Salameh said the inflation rate last year was at 4 percent while the debt rose to 54 billion dollars.

W140 Full Story
Iran Currency Slips to Record Low after New U.S. Sanctions

Iran's currency, the rial, slipped to a record low Sunday, the day after the United States imposed extra sanctions targeting the Islamic republic's central bank and financial sector.

The state news agency IRNA and an Iranian website tracking the currency said the rial's street value at money changers' slid to around 16,000 to the dollar.

W140 Full Story
Iran Says Oil Could Hit $200 a Barrel Under New Sanctions

World oil prices could soar to $200 per barrel if Iran's petroleum sector is hit with new Western sanctions, Iranian Oil Minister Rostam Qasemi told Saturday's edition of news weekly, Aseman.

"There is no doubt that the price of oil will increase drastically and the international markets will have to pay a heavy price," Qasemi was quoted as saying.

W140 Full Story
Iran Refuses to Fuel Some European, Arab Airlines

Iran is refusing to refuel some European and Arab airlines at its main international airport in a tit-for-tat move over major oil companies denying fuel to Iranian planes abroad, the airport's chief said Saturday.

"Government directives" ordered the ban, Morteza Dehqan, head of Tehran's Imam Khomeini international airport, told the ISNA news agency.

W140 Full Story
China Says Yuan Will Be More Flexible: Report

China's central bank governor hinted in comments published Saturday that authorities would loosen their grip on the Asian powerhouse's tightly controlled currency by widening its trading band.

Beijing's trading partners have long criticized its Yuan exchange rate, saying it is kept artificially low, fuelling a flow of cheap exports that have helped trigger massive trade deficits between some countries and China.

W140 Full Story
Euro Sinks to More Than 10-Year Low Against Yen

The euro remained under pressure Friday, falling to its lowest level against the yen in more than a decade, prodded by a weak Italian debt auction and Spain's deficit warning.

The euro sank to 99.62 yen around 2200 GMT, down from 100.61 yen at the same time Thursday.

W140 Full Story
Lockheed Wins Contract for UAE Anti-Missile System

The Pentagon awarded U.S. defense giant Lockheed Martin Corp. with a $1.96 billion contract Friday to supply the United Arab Emirates with a missile defense system.

Under the contract, Lockheed will deliver two Terminal High Altitude Area Defense or Thaad systems that include radar, interceptors and launchers, according to a Pentagon statement.

W140 Full Story