Economy

US energy bankruptcy wave surges despite recovering oil prices

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

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

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

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

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

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

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

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

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

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…
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