LONDON (Reuters) - Oil prices slipped on Thursday as U.S. fuel inventories rose and despite efforts by OPEC to cut production. Brent crude oil was down 20 cents at $56.74 a barrel by 0730 GMT. U.S. light crude was 25 cents lower at $51.05. Both benchmarks have risen more than 20 percent...
LONDON (Reuters) - Global supply and demand for crude oil will be largely balanced next year, as growth in consumption helps erode a three-year-old overhang of unused fuel and should mostly offset a steep rise in output, the International Energy Agency said on Thursday. In its monthly...
(Zaman Al Wasl)- Syrian Minister of Finance has seized the “movable and immovable property” of 11 members of the Ghreiwati family that led the business and finance in Syria for decades. Zaman al-Wasl reviewed a copy of the decision which was signed on the same day that an order...
The arrangement helped the Syrian government to feed areas still under its control after Islamic State took over the northeastern wheat-growing region during the six-year-old civil war, they said. Traders working for businessman and lawmaker Hossam al-Katerji bought wheat from farmers...
NEW YORK (Reuters) - The dollar was firm against a basket of currencies on Monday, hovering at a 10-week high, as surprisingly stronger U.S. wages data in September bolstered bets the Federal Reserve would hike interest rates in December. Strength on Wall Street with the Dow and Nasdaq...
NEW YORK (Reuters) - Wall Street fell from record levels on Monday as gains in Microsoft (MSFT.O) and other technology stocks failed to offset a drop in General Electric (GE.N) and a slide in healthcare stocks. Based on the latest available data, the Dow Jones Industrial Average .DJI...
BERLIN (Reuters) - German industrial production jumped more than expected in August, posting its biggest monthly increase in more than six years, data showed on Monday, in a further sign that Europe’s biggest economy is set for solid growth in the third quarter. Industrial output...
SYDNEY (Reuters) - Chinese shares climbed on Monday after a week-long break as a disappointing survey on the country’s service sector did little to dent optimism on global growth, while political uncertainty caused turbulence for the Turkish and British currencies. Liquidity was lacking...
SINGAPORE (Reuters) - Oil prices edged up on Monday, after a 2 percent slide on Friday, as the number of rigs drilling for new oil in the United States dipped and on expectations that Saudi Arabia would continue to restrain its output to support the market. Meanwhile, oil ports,...
STOCKHOLM (Reuters) - Struggling mobile telecom gear maker Ericsson proposed Ronnie Leten, former CEO at Atlas Copco, as its new chairman, it said on Monday. “Mr Leten is a very skilled businessman, technically savvy and strategically versatile,” Johan Forssell, chairman of the...
OPEC and other oil producers may need to take “some extraordinary measures” next year to rebalance the oil market, the OPEC secretary-general said on Sunday. “There is a growing consensus that ... a rebalancing process is under way. We are gradually but steadily achieving our common and...
ABU DHABI (Reuters) - The United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday he was hopeful producers will reach a consensus on extending an oil output cut next month. “We are hopeful that the meeting in November will be a good meeting, that it will not...
NEW DELHI (Reuters) - State-run oil giant Saudi Aramco [IPO-ARMO.SE] is in talks with several Indian refiners and hopes to land a joint venture deal by next year, the company’s chief executive told Reuters on Sunday. Aramco, like other major oil producers, wants to tap rising demand...
DUBAI (Reuters) - Saudi Arabia’s government is changing the way it procures goods and services to save money, make the process fairer and aid local suppliers, the Finance ministry said on Sunday. The ministry, responsible for allocating tens of billions of dollars each year to keep the...
(Reuters) - Hurricane Nate had curtailed 92 percent of U.S. Gulf of Mexico oil output and up to 3 percent of refining capacity on Saturday as it sped toward energy facilities in the central U.S. Gulf Coast that largely were spared by Hurricane Harvey’s wrath nearly six weeks ago. The...
New revelations from a probe into ties between Daesh (ISIS) and Lafarge cast light on why the French cement giant was desperate to stay in Syria and the price it was prepared to pay. To ensure protection of its staff, Lafarge Cement Syria paid between $80,000 and $100,000 a month to various...
The U.S. Commerce Department on Friday notched up proposed trade duties on Bombardier Inc CSeries jets to nearly 300 percent, affirming Boeing Co’s complaint that the Canadian company received illegal subsidies and dumped the planes at “absurdly low” prices. The decision underscored the...
The U.S. dollar and government debt yields jumped on Friday after strong gains in hourly wages unveiled in the U.S. government’s jobs report for September boosted the likelihood the Federal Reserve will raise interest rates by year’s end. U.S. employment fell in September for the...
(Eqtsad)- US-backed Syrian Democratic Forces (SDF) have been using the Euphrates Dam near the town of Tabaqa as a bridge to transport hundreds of fuel tankers and livestock to the government-held areas, well-informed source said on Friday. Former director of the Euphrates Dam...
(Reuters) - The dollar touched a fresh seven-week high versus a basket of currencies on Friday, supported by hopes for progress on U.S. tax reforms, with traders looking to U.S. jobs data for near-term catalysts. Congressional Republicans moved to hasten an overhaul of the U.S. tax code...
