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Rich Nations Probe Panama Papers Tax Revelations

Tax authorities from the world's richest nations on Wednesday probed a mass of murky offshore dealings revealed in the huge Panama Papers data leak, just hours after police raided the law firm at the center of the scandal.

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Dubai's Emirates Orders Two More Airbus A380s

Dubai's Emirates airline said Wednesday it had ordered two more Airbus A380 planes, raising the carrier's total orders for the superjumbo aircraft to 142.

The two new planes will be delivered in the fourth quarter of 2017, said a statement by Emirates, which already has 75 A380s in service.

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OPEC Warns on Oil 'Oversupply' ahead of Crunch Doha Meeting

OPEC warned Wednesday that the world remains awash with crude ahead of a crunch meeting in Doha between cartel members and other major producers to discuss a production freeze to boost the oil price.

The Organization of the Petroleum Exporting Countries said in its April monthly report that oil prices rose more than 20 percent in March, continuing a slow recovery from the huge drop of 2014-15.

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France Sticks to Growth, Public Deficit Forecasts

France said Wednesday it was on track for modest growth this year at the same rate as earlier projections and also left its public deficit forecast untouched.

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Report: Kuwait Sends National Guard to Oil Units after Strike Call

Kuwait is deploying national guard units to run and protect some oil facilities after workers announced a major strike for this weekend, a newspaper reported on Wednesday.

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Oil Falls after Rally Fuelled by Output Freeze Hopes

Oil prices fell on Wednesday, taking a breather after a rally fueled by reports Saudi Arabia and Russia had agreed to freeze output ahead of a key producers' meeting.

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IMF Warns over Brexit and 'Fraying' EU Integration

The International Monetary Fund warned Tuesday of potentially "severe" economic damage from a British exit from the European Union and voiced strong worries over generally deteriorating support for EU integration.

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Fitch Cuts Saudi Credit Rating over Oil Price Fall

Fitch Ratings on Tuesday lowered the long-term credit rating of Saudi Arabia because of the negative impact of lower oil prices on the world's biggest crude exporter.

The agency "has downgraded Saudi Arabia's long-term foreign and local currency" ratings to AA- from AA, it said, adding the outlook remains negative.

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Greece, Creditors Break off Bailout Talks until April 18

Greece and its bailout creditors have suspended talks on the country's austerity program until next week, after a new set of marathon overnight negotiations failed to produce a breakthrough.

Finance Minister Euclid Tsakalotos says the meetings in Athens would resume April 18, with an aim to reaching an agreement by April 22, when he is due to meet with his peers from the 19-country eurozone.

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EU Cracks Down on Tax Havens, Targeting Big Companies

The EU unveils plans on Tuesday to limit the rampant use of tax havens by the world's biggest multinationals, a measure the authorities say is made even more urgent by the Panama Papers scandal.

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