OPEC members and their ally Russia are discussing a further cut to crude oil output at a meeting in Vienna because of China's coronavirus epidemic, Iraq's oil ministry said Tuesday. Crude prices have tumbled since the deadly outbreak in the world's second-biggest economy, which is a huge...

Hong Kong confirmed Monday it plunged into recession in 2019, suffering its first annual contraction in a decade as the city buckled under the twin pressures of the US-China trade war and months of furious pro-democracy protests. The data was released as the semi-autonomous city begins the...

China's central bank said Sunday it would pump 1.2 trillion yuan ($173 bln) into the economy as it ramps up support for a nationwide fight against a deadly virus that is expected to hit growth. The People's Bank of China (PBOC) said in a statement it would launch a 1.2 trillion yuan reverse...

Some companies have warned that a coronavirus outbreak in China could disrupt supply chains or hurt bottom lines as factories and shops shut and airlines suspend flights. FINANCIAL IMPACT: * Electrolux said the epidemic could have a material impact if its Chinese suppliers were...

Apple announced on Saturday the closure of its stores, corporate offices and contact centres in mainland China until February 9 due to the new coronavirus epidemic. The virus has prompted the government extend the Lunar New Year holiday through this weekend in a bid to contain its spread,...

Airbus, the world’s largest aircraft maker, will pay just under 1 billion euros ($1.11 billion)in a British settlement to draw a line under a three-and-a-half year criminal investigation into allegations of fraud, bribery and corruption. The deal under a three-year Deferred Prosecution...

Losses from the closures of Libya's major oil fields and production facilities have continued to increase, surpassing $560 million for a 10-day period, the country's national oil company said. The closures came about when powerful tribal groups loyal to Libyan military commander Khalifa...

Oil prices fell on Thursday on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting. Brent crude LCOc1 was down $1.29, or 2.16%, at $58.52 a barrel by 1321 GMT, having...

Japanese authorities on Thursday issued arrest warrants for a former U.S. special forces soldier and two other men on suspicion of smuggling former Nissan Motor Co boss Carlos Ghosn out of Japan. Warrants were issued for former U.S. Green Beret Michael Taylor and two other men,...

Vodafone Group has struck a preliminary deal to sell its 55% stake in its Egyptian unit to Saudi Arabia’s largest telecoms operator STC 7010.SE for $2.4 billion, the companies said on Wednesday. The non-binding deal values Vodafone Egypt at $4.4 billion and the two companies have agreed a...

Chairman of Syria's goldsmith society and Jewelry said most of the gold workshops had stopped working what pushed jewellery shops owners to display used gold in their windows. Ghassan Jazmati told to regime-run Al-Watan newspaper the gold markets are experiencing stagnation in the trade due...

The closure of Libya’s major oil fields and production facilities has resulted in losses of more than $255 million in the six-day period ending Jan. 23, the country’s national oil company said Saturday. The closures came when powerful tribal groups loyal to military commander Khalifa Haftar...

Lebanon and Japan have about 40 days to decide whether ousted Nissan boss Carlos Ghosn will be extradited to Japan or stand trial in Lebanon, a judicial source and a source close to Ghosn said Thursday, following his escape from Japan last month. Ghosn fled to Lebanon, his childhood home,...

The United States imposed Iran-related sanctions Thursday on two individuals and six companies, including four firms tied to the National Iranian Oil Company. Tensions between Iran and the United States have ratcheted up since 2018, most recently over an U.S. attack that killed a top...

 Lebanon is looking to secure $4 billion - $5 billion in soft loans from international donors to finance purchases of wheat, fuel and medicines, Lebanese newspaper The Daily Star cited finance minister Ghazi Wazni as saying on Thursday. Wazni, named minister in a new cabinet formed on...

  Syria’s president Bashar al-Assad has taken emergency steps to try to halt a dramatic fall of the local currency, forbidding the use of money other than Syrian pounds for transactions with the threat of prison and hard labour. The once-resilient Syrian pound has halved in...

Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. Brent crude LCOc1 futures were up by 74 cents, or 1.1%,...

The legal team of Nissan's former chairman Carlos Ghosn issued a statement Friday refuting the latest allegations by the Japanese automaker against the fugitive businessman. Nissan Motor Co. on Thursday filed a new set of allegations to the Tokyo Stock Exchange against Ghosn, who...

Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chief’s flight to Lebanon from Japan, where he had been fighting financial misconduct charges. In an emailed statement, Hironaka said that everyone involved...

French President Emmanuel Macron said on Wednesday he had previously spoken to Japan’s prime minister about the conditions former Nissan-Renault boss Carlos Ghosn was being held under. After fleeing Japan in late December, Ghosn said he had been treated “brutally” by Tokyo prosecutors and...