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France targets deep pockets of Emirati wealth funds

France targets deep pockets of Emirati wealth funds

Prime Minister Edouard Philippe will look to deep-pocketed sovereign wealth funds in the United Arab Emirates to further investments in France when he carries his "France is back" pitch to Abu Dhabi and Dubai this weekend, a government source said. Among the investors Philippe will meet are...

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U.S. announces arrests in $530 million cyber identity fraud scheme

U.S. announces arrests in $530 million cyber identity fraud scheme

The U.S. Justice Department announced one of its largest-ever takedowns of a global cyber crime ring Wednesday, saying it had indicted 36 people accused of trafficking in stolen identities and causing more than $530 million in losses to consumers. The cyber crime network, known as...

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Egypt warns Turkey over eastern Mediterranean economic interests

Egypt warns Turkey over eastern Mediterranean economic interests

Egypt Wednesday warned Turkey against any infringement of its economic rights in the eastern Mediterranean under a maritime border demarcation agreement signed in 2013 with Cyprus that allows exploration for gas in the area. The discovery of the massive Zohr gas field in 2015 has...

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Asia markets plunge after record-breaking loss on Wall St

Asia markets plunge after record-breaking loss on Wall St

Asian stocks plunged Tuesday after a record-breaking loss on Wall Street, extending a global rout as panicked investors fret over rising U.S. borrowing costs and take profits after months of market euphoria. Tokyo led a collapse throughout the region, briefly diving almost seven...

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Shell says annual profit almost triples to $13B

Shell says annual profit almost triples to $13B

Royal Dutch Shell said Thursday that profit after taxation almost tripled to just under $13 billion in 2017, energized by rising oil and gas prices. Net or bottom-line earnings for the full year compared with a figure of $4.6 billion in 2016, the Anglo-Dutch energy giant revealed...

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Over half of TurkStream gas pipeline completed

Over half of TurkStream gas pipeline completed

More than half of the first line of the TurkStream natural gas pipeline project to deliver 35 percent of Turkey's gas needs has been completed, Gazprom officials, the project constructor, told visiting Turkish journalists at Novy Urengoy, Russia's biggest gas field and the world's...

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Trump will be 'best salesperson' for US economy at Davos: WH

Trump will be 'best salesperson' for US economy at Davos: WH

US President Donald Trump is aiming to be the "best salesperson" for American economic interests when he goes to Davos later this week, the White House said Tuesday. Trump is set to speak Friday at the World Economic Forum, an annual gathering of the global pro-trade elite at the Swiss...

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Russia may back Aramco IPO, enhance OPEC ties

Russia may back Aramco IPO, enhance OPEC ties

Russian pension funds are considering investing in Saudi Arabian state oil major Aramco when it lists its stock in a move to strengthen the partnership between the world's two top oil producers, Russia's top state investment officer said. The head of Russia's Direct Investment Fund,...

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Iraq to sign gas deal with US firm for southern field

Iraq to sign gas deal with US firm for southern field

Iraq will on Monday sign a memorandum of understanding with American energy company Orion to tap gas at an oil field in the south of the country, the petroleum ministry said. The Nahr Bin Omar field, situated in the hydrocarbon-rich Basra province, is currently producing 40,000 barrels...

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Airbus to get '10 years of visibility' from Emirates deal: CEO

Airbus to get '10 years of visibility' from Emirates deal: CEO

A $16 billion deal with Emirates airline for A380 superjumbos will give Airbus "at least 10 years of visibility", the European manufacturer's CEO Tom Enders said in an interview published Sunday. Emirates announced the deal on Thursday to buy 36 Airbus A380s - just days after the group...

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Raqqa forest uprooted by greedy war merchants

Raqqa forest uprooted by greedy war merchants

 (Zaman Al Wasl)- A well-known forest lies on the northern bank of  Euphrates lake in Raqqa province has been exposed to haphazard timber cutting and neglect for years which resulted in the emergence of empty patches and patches of dry trees. The former employee at...

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Pakistan aims to sell national airline before election

Pakistan aims to sell national airline before election

Pakistan will try to privatize its national airline before general elections due this year, privatization minister Daniyal Aziz said, as the ruling party seeks to restart sales of state-run businesses. Pakistan International Airlines(PIA), hemorrhaging money and losing market share to...

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US report raps Alibaba's Taobao, others for pirated goods

US report raps Alibaba's Taobao, others for pirated goods

Alibaba's Taobao website and numerous public markets around the world were cited Friday as purveyors of hundreds of thousands of dollars in pirated goods in the US government's annual "notorious markets" review. The report by the US Trade Representative spotlighted online venues that...

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Jeff Bezos donates $33 million for DACA scholarships

Jeff Bezos donates $33 million for DACA scholarships

Amazon founder Jeff Bezos announced Friday that he and his wife MacKenzie are donating $33 million to fund college scholarships for undocumented immigrants. Bezos said the grant will allow some 1,000 undocumented high school students to attend college. The students will all be...

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Air France rejects report into 2009 crash that blames pilots

Air France rejects report into 2009 crash that blames pilots

Air France has dismissed the conclusions of a new report into the 2009 Rio-to-Paris Air France plane crash that blames the pilots for failing to apply correct procedures and losing control of the aircraft over the Atlantic Ocean. Previous reports said a technical fault on the Airbus...

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Saudi Arabia converts Aramco into joint-stock company ahead of historic IPO

Saudi Arabia converts Aramco into joint-stock company ahead of historic IPO

Saudi Arabia has changed the status of its national oil giant Aramco to a joint-stock company as of Jan. 1, in a key step for an initial public offering (IPO) planned for later this year. The sale of up to 5 percent of Saudi Aramco, expected to go ahead in the second half of 2018, is a...

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Germany lays charges in Ryanair pilots 'tax fraud' probe

Germany lays charges in Ryanair pilots 'tax fraud' probe

German prosecutors said Thursday they had charged five employees of a British recruitment agency working with Irish low-cost carrier Ryanair over millions of euros in allegedly unpaid social security payments for its pilots. No Ryanair staff were among the accused but "investigations...

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Oil dips from highs, but OPEC's cuts still support market

Oil dips from highs, but OPEC's cuts still support market

Oil prices on Friday dipped away from some of their highest levels since 2015, weighed down by rising U.S. output and the expected January re-opening of the Forties pipeline in the North Sea. Despite this, markets remained well supported by ongoing supply cuts led by the Organization of...

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Iranian site severely damaged by Israeli airstrikes: satellite images      Deal reached to evacuate pro-regime Syria towns: activist group      Israel prepared for ‘any scenario’ in Gaza: Netanyahu      Nearly 270 undocumented migrants held across Turkey      Iran resumes air flights to Iraq’s Najaf      Assad forces take strategic hilltop in southwestern Syria      After reprieve, Britain's May faces Brexit battle in parliament on trade      Russian establishment chalks up Trump summit as a win for Putin