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Iraq extends bid deadline for construction of Mosul oil refinery: ministry

Iraq has extended the deadline for foreign companies and investors to bid for the construction and operation of a new 100,000 barrel per day (bpd) refinery near Mosul in the northern province of Nineveh, the oil ministry said on Sunday. Bidding documents provide for two investment...

Trump slams OPEC, says will not accept high oil prices

U.S. President Donald Trump on Friday criticized OPEC for output reductions that have helped raise oil prices and said the action would not be tolerated, as oil prices appeared set for a second consecutive week of gains. "Looks like OPEC is at it again. With record amounts of Oil all...

German police arrest Porsche manager over diesel scandal: company

German police have detained a Porsche manager in a probe into the diesel emissions cheating scandal hanging over the luxury car brand's parent company Volkswagen. Porsche chief Oliver "Blume informed the workforce that the prosecutor of Stuttgart has taken a manager into custody",...

China to allow full foreign ownership in auto industry

China announced plans Tuesday to allow full foreign ownership of automakers in five years, ending restrictions that helped to fuel its escalating dispute with U.S. President Donald Trump and strained relations with other trading partners. The change would scrap rules that require global...

Asia stocks mostly down after Syria strike

Most Asian markets fell on Monday after a U.S.-led strike on Syrian targets fueled fresh concerns over the tinderbox Middle East, though analysts said investors were hopeful the crisis would not escalate. The U.S., Britain and France carried out attacks at the weekend on alleged...

Russian ruble and stocks slide on new sanctions fears, lower oil

The Russian ruble and shares in some of Russia's biggest companies slid lower Monday, dragged down by the threat of new U.S. sanctions and lower oil prices. Volatility on the Russian market has soared since Washington imposed fresh sanctions against Moscow on April 6, targeting major...

Macron takes to airwaves amid rail strikes, Syria crisis

Having shunned the French media for most of his presidency, President Emmanuel Macron is to sit for two prime-time interviews this week starting Thursday as he battles strikes at home and faces his biggest test abroad in Syria. The 40-year-old leader will appear for a one-hour interview...

Russian ruble falls on Trump missile threat, US sanctions

MOSCOW (AP) — The Russian ruble has again fallen sharply as last week's U.S. sanctions continue to bite and President Donald Trump threatened a missile strike on Syria. The dollar traded above 64 rubles on the Moscow exchange Wednesday morning for the first time since 2016, a 2...

Stock indexes rally as China's president eases trade fears

NEW YORK (AP) — Stocks jumped Tuesday after Chinese President Xi Jinping said Beijing would reduce tariffs on imported cars and improve intellectual property protection, steps that could ease trade tensions. Facebook climbed as CEO Mark Zuckerberg testified before the Senate...

Saudi Arabia, France sign deals worth $18 bn: Al Arabiya TV

Saudi Arabia and France signed 20 economic deals worth more than $18 billion, Al Arabiya TV said Tuesday as Saudi Crown Prince Mohammad bin Salman visits Paris, without specifying whether they were full contracts or memorandums of understanding. State oil giant Saudi Aramco earlier...

Travel industry eyes blockchain potential for fees, delays, lost bags

BERLIN (Reuters) - Blockchain technology has the potential to shake up the travel industry by giving airlines and hotels a way to bypass controlling intermediaries like Expedia (EXPE.O) or Amadeus (AMA.MC) and gain better access to customer data. Major players including Lufthansa...

Egypt's inflation drops again in March, continues decline

Egypt's official statistics agency says the inflation rate dropped to 13.3 percent in March, the month of the country's presidential election, from 14.4 percent in February. The drop continues a decline since inflation peaked last summer, hovering around 30 percent after the government cut...

Lebanon donor conference raises billions

Paris (AFP) - International donors pledged $11 billion in low-interest loans and aid for Lebanon at a conference in Paris on Friday to try to avert an economic crisis in a country hard hit by the fallout from the Syrian war. Lebanon's growth has plummeted due to political instability,...

New hope for NAFTA deal as high-level talks begin

The eighth round of North American Free Trade Agreement (NAFTA) negotiations have been suspended and high-level ministerial representatives will meet instead to push for a deal, it was announced Thursday. Canadian Foreign Minister Chrystia Freeland left for Washington earlier in the day...

Libya's National Oil Corp signs deal with Artelia for new Benghazi offices

Libya's National Oil Corporation (NOC) said Wednesday it had signed a deal with French building and engineering group Artelia to manage the development of its offices in the eastern city of Benghazi. There have been plans for years to move the state oil firm's headquarters from the...

Bahrain announces discovery of 80 bn barrels of oil

Bahrain on Wednesday announced its newly discovered shale oil reserve was estimated at more than 80 billion barrels, making the once-marginal oil producer potentially a major player in the market. The size of recoverable oil -- or oil that can be extracted -- is still under study, Oil...

Cyprus government makes deposit in Co-op Bank ahead of sale

The Cyprus government deposited Tuesday 2.5 billion euros ($3.1 billion) into the island-nation's troubled Cooperative Bank in an attempt to dispel any uncertainty over its future. Government Spokesman Prodromos Prodromou said he hoped the deposit, mainly in the form of a bond issue,...

Turkish exports up in March

Turkey's exports in March totaled $15.5 billion, an 8.01 percent rise compared with the same month in 2017, according to provisional data of the Ministry of Customs and Trade on Monday. The imports climbed 12.77 percent to over $21.4 billion, amounting to a foreign trade deficit of...