More than 30 percent of young Arabs are jobless because of unrest in many Arab nations and not enough investment, a top labor official said on Sunday.
"The unemployment rate among Arab youth until the age of 30 years exceeds 30 percent," the director general of the Arab Labor Organization Ahmad Mohammed Luqman told AFP.
Full StoryEmbattled President Nicolas Maduro marks two years in power Sunday with Venezuela's deep pockets pinched hard by plummeting oil prices, Latin America's highest inflation and simmering anger on the streets.
"It is very clear that Venezuelans of all socioeconomic groups have seen their quality of life lose ground. But the poor are those who have lost the most," said economist Maxim Ross at the Universidad Monte Avila in Caracas.
Full StoryFrench Finance Minister Michel Sapin said Friday that Europeans seek "stability over the long term" with the euro "at its current level."
"If we would like to, or we would let known that we would like to, let the euro's value fall further, we would enter a dangerous zone," he said.
Full StoryGreece and its international creditors will meet Saturday in Paris to discuss Athens' massive debt bailout programme and reforms it must adopt in exchange for urgently needed funds, sources said.
Progress in the talks has so far proved elusive while Athens is running out of money to pay its creditors, raising the risk of a default and a potentially chaotic exit from the single currency bloc.
Full StorySpanish tax authorities carried out new searches Friday of former IMF chief Rodrigo Rato's Madrid offices in a money-laundering probe as the country questioned whether he had been made a scapegoat in the ruling Popular Party's anti-corruption drive.
Rato is already being investigated for alleged fraud during his time as chief executive at Bankia, a Spanish bank which needed to be bailed out by the government.
Full StoryDubai's Emirates Airline on Friday awarded a lucrative engines deal worth a record $9.2-billion (8.5-billion-euro) to British aircraft engine maker Rolls-Royce.
"Emirates has today announced an historic $9.2 billion deal with Rolls-Royce for Trent 900 engines and a long-term TotalCare package," it said in a statement.
Full StoryBloomberg terminals used by subscribers to make trades using real-time developments in business and finance were struck by a "global network problem" for several hours Friday, the company's technical department said.
After users in financial centres around the world flocked to Twitter to complain of the unexpected outage of terminals, Bloomberg technicians began repair operations that started bringing some blanked terminals back on line at around 0945 GMT.
Full StoryOil prices fell in Asia Friday as investors locked in profits following a six-day rally, with a rise in OPEC's output in March also adding to downward pressure, analysts said.
U.S. benchmark West Texas Intermediate (WTI) for May delivery dipped 52 cents to $56.19 and Brent crude for June eased 51 cents to $63.47 in afternoon trade.
Full StoryTop European officials and Greece's finance minister were on Thursday forced to play down fears that the country was poised to exit the eurozone, after the IMF rejected suggestions that Athens would postpone loan repayments.
But the perilous state of Greece's government finances was laid bare when the prime minister confirmed he had been reduced to seeking funding support from the wealthy Greek Orthodox Church.
Full StoryThe emerging economies of the G-24 group sharply criticized the United States on Thursday for holding up what they see as critical reforms of the International Monetary Fund.
Speaking at the spring meetings of the IMF and World Bank, the group said the failure after five years of the U.S. Congress to ratify the reforms was undermining the effectiveness and legitimacy of the global crisis lender.
Full Story