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Nigeria Cracks Down on Illicit Oil Refineries

Nigerian commander Remi Fadairo points to the roiling plume of black smoke blotting the morning horizon in the Niger Delta -— the unmistakable sign of an illicit oil refinery. 

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Kuwait Court Backs Government over Petrol Price Hikes

Kuwait's appeals court ruled Sunday that a government decision to raise petrol prices was in line with the constitution, overturning a decision by a lower court.

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Ivanka Trump's Brand Ramped up China Trademark Work in 2016

Ivanka Trump's brand intensified its work in China as her father closed in on the Republican nomination for U.S. president, with her company applying for nearly twice as many trademarks in a five-month span as it had in the preceding eight years.

Ivanka Trump Marks LLC applied for 36 trademarks in China between March and July of last year. From 2008 through 2015, it applied for a total of just 19 trademarks, China's trademark database showed .

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Panama Papers Law Firm Boss Sees Tax Shelter Boom in U.S.

The co-founder of the law firm at the center of the Panama Papers scandal says the fallout has set off a "thriving" boom in the creation of tax shelters in the United States.

Juergen Mossack, who partnered with Ramon Fonseca to create the Panamanian firm Mossack Fonseca, said in a document obtained Thursday by AFP that after the Panama Papers leak a year ago, the number of new tax shelters created has fallen by 30 percent in Panama and elsewhere.

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Russia's Richest Get Richer in 2017, Ranking Shows

Russia's 200 richest people became some $100 billion richer in 2017 than last year, said the Russian Forbes which makes the annual ranking, attributing the growing wealth to rising commodities prices.

The total worth of Russia's two hundred richest was evaluated at $460 billion, up by $100 billion since 2016, while the number of Russian billionaires grew from 77 to 96 people after falling last year.

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IMF Raising Volume on Call to Address Anti-Globalization Anger

As the global recovery gathers pace, the IMF is turning up the volume on its call for wealthy countries to address popular anger over the impact of globalization and head off the threat of protectionism.

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Greece Beats Primary Surplus Target for 2016

Greece on Friday said it logged a primary surplus of 3.9 percent in 2016, nearly eight times higher than a key target agreed in its economic bailout and debt relief talks.

Under the bailout, Greece needed to clock a primary surplus -- or budget surplus before debt repayments -- of 0.5 percent of output in 2016, followed by 1.75 percent this year and 3.5 percent in 2018.

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Saudi Malls to Hire Locals Only

Foreigners will no longer be allowed to work in Saudi Arabia's numerous shopping malls, the labor ministry announced Thursday, in the latest measure to boost employment of Saudis.

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Corruption Row Threatens Brazil's Economic Reforms

Efforts by Brazil's embattled government to push through unpopular austerity reforms face ever greater headwinds after the eruption of a corruption scandal weakening President Michel Temer.

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Oil Producers 'Might Have to' Extend Output Cuts, Says Saudi minister

Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing of the market.

"We might have to extend in order to reach the target... of stock levels," Khalid al-Falih told an energy forum in Abu Dhabi, referring to a deal between OPEC and non-OPEC producers to cut production by around 1.8 million barrels per day.

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