Economy
US energy bankruptcy wave surges despite recovering oil prices
May 14, 2016
US energy bankruptcy wave surges despite recovering oil prices
The wave of U.S. oil and gas bankruptcies surged past 60 this week, an ominous sign that the recovery of…
Iraq oil projects face delays as companies resist spending cuts
May 14, 2016
Iraq oil projects face delays as companies resist spending cuts
International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists…
Egypt to import 80,000 tonnes of rice ahead of Ramadan
May 14, 2016
Egypt to import 80,000 tonnes of rice ahead of Ramadan
Egypt's government has directed state grains buyer GASC to import 80,000 tonnes of rice "immediately" ahead of the Muslim fasting…
South Africa’s dismal economic growth a concern: Standard & Poor’s
May 14, 2016
South Africa’s dismal economic growth a concern: Standard & Poor’s
A Standard & Poor's executive expressed concern on Friday about South Africa's dismal growth and its reliance on capital flows,…
Apple invests $1 billion in Chinese ride-hailing service Didi Chuxing
May 13, 2016
Apple invests $1 billion in Chinese ride-hailing service Didi Chuxing
Apple Inc (AAPL.O) said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that…
Oil falls as dollar strengthens but traders eye Nigerian outages
May 13, 2016
Oil falls as dollar strengthens but traders eye Nigerian outages
Oil prices ended a three-day bull run on Friday, falling as a strong dollar made it more expensive to hold…
Damascus struggles to halt currency collapse as peace hopes erode
May 12, 2016
Damascus struggles to halt currency collapse as peace hopes erode
Damascus has announced measures to halt the fall of Syria's currency, but traders expressed doubt it would work after the…
No big bang, but quiet reforms reshaping China’s oil and gas sector
May 12, 2016
No big bang, but quiet reforms reshaping China’s oil and gas sector
Expect no radical "big bang" in China's shake-up of its giant state-run energy firms, but a series of experimental and…
Saudi Aramco finalizes IPO options, plans global expansion
May 11, 2016
Saudi Aramco finalizes IPO options, plans global expansion
Saudi Arabia's state-owned oil giant Aramco is finalizing proposals for its partial privatization and will present them to its Supreme…
Don’t use US as excuse for not doing business with Iran: Kerry
May 11, 2016
Don’t use US as excuse for not doing business with Iran: Kerry
Companies should not use the United States as an excuse for not doing business with Iran, US Secretary of State…