Omani Energy Minister Mohammed bin Hamad al-Rumhy said on Sunday that he believed there was a consensus among OPEC oil producers that oil output should be cut. Asked if he thinks there is a consensus for a cut, he told reporters: “I think so, yes. We enjoyed the benefits of cuts.”...

Four Libyan oil export ports that were closed last week because of bad weather have reopened, a Libyan shipping source and port engineers said on Sunday. Tankers were docking at the eastern Ras Lanuf, Es Sider, Zueitina and Brega ports as well as the western Zawiya terminal linked to the El...

Iran has ended its seasonal ban on rice imports, allowing importers to register their orders, Iranian news agencies reported on Sunday. Deputy Agriculture Minister Ali Akbar Mehrfard announced the end of the annual ban in a letter dated Nov. 28, the ISNA semi-official news agency reported....

  China and Argentina signed a $9 billion currency swap deal to boost the crisis-stricken South American country's foreign currency reserves, its central bank announced Sunday. Struggling to recover after a currency crisis earlier this year, Latin America's third largest economy sought...

US president on Saturday agreed to not raise the tariff rate on goods imported from China, the White House announced. According to a statement issued by the White House, President Donald Trump and Chinese President Xi Jinping held a "highly successful meeting" during the sidelines of...

The Vatican has made more progress in its path to greater financial transparency by securing approval to join the European banking system that harmonizes electronic payments across the continent. With the endorsement of the European Council, the Vatican City State and Holy See are now...

The murder of Saudi columnist Jamal Khashoggi last month has soured the world’s politicians on the once-feted Crown Prince Mohammed Bin Salman. Private capital turned against him long before that. Ever since dozens of royals and business chiefs were detained in November 2017 as part of...

To hear President Donald Trump tell it, he was made for a moment like this: A high-stakes face-off. A ticking clock. A cagey adversary. The man who calls himself a supreme dealmaker will have the opportunity this week to put himself to the test. The question is whether he can defuse a...

Leila Koochaki’s health has become collateral damage as the U.S. extends its economic offensive against Iran. The 47-year-old had to contact 15 pharmacies across Tehran before she finally secured the anti-fatigue medication she takes to cope with multiple sclerosis. “I found a small drugstore...

Loss-making South African arms maker Denel has a problem as it fights to survive. Its potential savior is Saudi Arabia, now drawing fierce criticism following the killing of journalist Jamal Khashoggi. But after being mismanaged for years and tainted by a far-reaching influence-peddling...

The value of Bitcoin plummeted 12 percent Monday to below $5,000 for the first time since October 2017. The world's largest cryptocurrency fell as low as $4,891, the lowest level in more than a year, according to data from CoinDesk. With losses exceeding 22 percent in the last...

The prime minister of China said Tuesday there are no winners in a trade war with the U.S. "There is no winner in the trade war," Li Keqiang said at the 33rd Association of Southeast Asian Nations (ASEAN) Summit in Singapore where he addressed the trade war, the South China Sea dispute...

Global energy demand is predicted to grow by more than a quarter between 2017 and 2040, according to the International Energy Agency's (IEA) World Energy Outlook 2018 on Tuesday. The IEA's report showed that population growth with an extra 1.7 billion people mostly in the urban areas of...

Saudi Arabia, the world's top crude exporter, said Sunday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up sliding prices. Saudi Energy Minister Khalid al-Falih announced the kingdom was cutting its supplies by 500,000 barrels per day from...

Australia's central bank on Thursday said the economy was "performing well" and lifted its growth outlook while keeping interest rates at a record low but warned there were concerns about global trade. The announcement comes as worries also begin to emerge about the country's once...

Air France-KLM, hit badly earlier this year by strikes and management upheaval, reported Wednesday its third quarter net profit jumped nearly 23 percent year-on-year to 786 million euros ($900 million). Ben Smith, who took over the reins in September, said the airline could look forward...

European aerospace giant Airbus reported Wednesday a third quarter net profit of 957 million euros ($1.1 billion), more than triple the 2017 performance. The company, which rivals Boeing of the US, said it was maintaining its forecast for deliveries of 800 commercial aircraft this year...

According to Saudi Energy Minister Khalid al-Falih, no one has any idea how much oil Iran will be able to export after new U.S. sanctions against the Islamic Republic kick in on Nov. 4. But more precisely, Iran’s shipment figures crucial to oil markets are already a mystery. Iran’s oil...

Banking giant HSBC said on Monday that pre-tax profit rose 28 percent to $5.92 billion in the third quarter, boosted by "strong revenue growth" in its main global businesses. Adjusted pre-tax profit rose 16 percent year-on-year to $6.2 billion, reflecting revenue growth that was partly...

Foreigners sold a net 2.34 billion riyals ($624 million) in the Saudi stock market in the week ending Oct. 25, but the bourse was supported by local institutions which bought 8.06 billion riyals worth of stocks, stock exchange data showed. The foreign selling slowed from a record 4.01...