Wall Street's major indexes climbed Monday as data showing unexpected growth in the US services sector last month and optimism over China's economic revival helped investors look past a surge in new cases of COVID-19 at home. The ISM's non-manufacturing activity index jumped to 57.1 in...

The Lebanese central bank will provide foreign currency at a fixed exchange rate of 3,900 Lebanese pounds per dollar for importers and manufacturers of essential food items, it said on Monday. The central bank “will secure the necessary amounts in foreign currency to meet the needs of...

Although crude prices have rebounded from coronavirus crisis lows, oil execs and experts are starting to ask if the industry has crossed the Rubicon of peak demand. The plunge in the price of crude oil during the first wave of coronavirus lockdowns -- futures prices briefly turned negative...

U.S. prosecutors late on Wednesday filed a lawsuit to seize the gasoline aboard four tankers that Iran is shipping to Venezuela, the latest attempt by the Trump administration to increase economic pressure on the two U.S. foes. The government of Venezuela’s socialist President Nicolas...

Oil prices rose on Thursday as a sharp drop in oil stockpiles outweighed concerns that a spike in U.S. coronavirus infections and revived lockdown measures in California could stall a recovery in fuel demand. Brent crude LCOc1 futures were up 21 cents or 0.5% at $42.24 a barrel by 1114 GMT,...

 Saudis braced Wednesday for a tripling in value added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades. Retailers in the country reported a sharp uptick in sales this week of...

Oil prices will consolidate at around $40 a barrel this year, with a recovery gaining steam in the fourth quarter and into 2021 on OPEC-led production cuts and as economies limp back from coronavirus lockdowns, a Reuters poll showed Tuesday. The survey of 45 analysts forecast benchmark...

 Turkish power-ship operator Karadeniz Holding is preparing a bid to supply up to 1,000 megawatts of electricity to conflict-hit Libya and will submit it soon, the company said Monday. Libya, where Turkey supports the internationally recognised government based in Tripoli, has been hit...

Libya's National Oil Corporation (NOC) is hopeful that oil production will resume after international talks to end a blockade by forces based in the east of the North African country, a spokesman said Monday. The internationally recognized Government of National Accord (GNA) based in...

French President Emmanuel Macron promised 15 billion euros of new funding on Monday to speed up the move to a greener economy, a day after the Greens trounced his party and took control of major cities in local elections. Macron said he would move faster on environment-friendly policymaking...

Nike lost $790 million in the fourth quarter, as soaring digital sales couldn't make up for the loss of revenue from shuttered stores in most of the world. The world's largest sports apparel maker said Thursday that its revenue fell 38% to $6.31 billion in the three-month period ending May...

Asian stocks posted their biggest drop in eight sessions, bonds rose and the US dollar was firm Thursday as surging US coronavirus cases and an International Monetary Fund downgrade to economic projections knocked confidence in a recovery. MSCI's broadest index of Asia-Pacific shares...

The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year, significantly worse...

Oil prices fell on Wednesday, reversing the previous session’s surge, as record high inventories and worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies. Brent crude were down 43 cents, or 1%, to $42.20 a barrel by 1020 GMT...

Oil prices were volatile on Tuesday after markets were spooked by surprise comments from White House trade adviser Peter Navarro saying a hard-won U.S-China trade deal was “over”, though he later said his comments had been taken out of context. Jangled nerves were also soothed to some...

Finland's Nokia Oyj plans to cut 1,233 jobs at its French subsidiary Alcatel-Lucent International, equivalent to a third of the unit's workforce, the group said on Monday, confirming an earlier Reuters report. The announcement has political resonance in France as Nokia bought the unit five...

World stocks reversed earlier losses and the dollar slid Monday as investors shrugged off worries that rising coronavirus infections in parts of Europe and the United States over the weekend could scupper a quick economic rebound. Torn between record stimulus and growing fears of a second...

Saudi Arabian Mining Co (Ma’aden) said on Sunday that its phosphate subsidiary is rescheduling and refinancing about $4.1 billion in debt. The subsidiary, Ma’aden Wa’ad Al Shamal Phosphate Company, will reschedule 6.7 billion riyals ($1.8 billion) owed to Saudi Arabia’s sovereign wealth...

Apple said Friday it was closing some stores in US states experiencing a surge in coronavirus infections, reversing course after reopening many of its retail locations. The iPhone maker said it was closing six of its retail stores in Arizona, along with two each in North Carolina and...

State oil giant Saudi Aramco started laying off hundreds of employees this month, two sources familiar with the matter said, as global energy companies reduce their workforces in response to the coronavirus crisis. Like other top oil firms, Aramco has cut capital spending for 2020 after the...