Flurry Of Bullish News Boosts Oil Prices

By Irina Slav Oil market sentiment has swung from bearish to bullish in the last few days as tailwinds for the commodity strengthen. A string of updates from OPEC and Venezuela, along with a couple of...

Mexico To Support Indebted State Oil Firm Pemex With $3.6B

By Tsvetana Paraskova Mexico will support Pemex by injecting US$3.6 billion into the debt-laden state-held oil firm, including by refinancing debt and cutting taxes, Mexican officials said on Friday. The Mexican government, however, will not take on new debt...

A year after India’s biggest bank fraud, PNB on road for annual profit

Chris Thomas, Krishna V Kurup (Reuters) - One year after being hit by a $2 billion scam, India’s Punjab National Bank (PNB) is set to return to annual profits and strong loan growth in fiscal...

Qatar aims to build $20 billion sports sector ahead of World Cup

DOHA (Reuters) - Qatar wants to attract more sports companies to the Gulf state, aiming to develop a $20 billion sports sector ahead of the 2022 World Cup, a senior official said on Sunday. Qatar...

Turkey’s budget post $953 mln surplus in January

Turkey’s central government budget balance posted a surplus of nearly 5.1 billion Turkishliras ($953 million) in January, new data from the Treasury and Finance Ministry showed on Feb. 15. Turkish budget revenues jumped by 66.6 percent year-on-year to hit 97 billion TurkishLiras ($18.1 billion)...

Turkey can act as center for arbitration: Trade minister

Turkey has the necessary know-how and potential to act as a center for internationalarbitration in its immediate region and beyond, country's trade minister said on Feb. 15. Turkey has been laying the legal groundwork for dispute resolution, Ruhsar Pekcan told an event in...

European car imports no threat to U.S. national security: VDA

FRANKFURT (Reuters) - Car imports from Europe do not endanger U.S. national security, German car lobby the VDA said on Sunday, echoing comments by Chancellor Angela Merkel a day earlier. The U.S. Commerce Department is...

Asia shares bounce on trade talk, stimulus wagers

Wayne Cole SYDNEY (Reuters) - Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-U.S. trade talks in Washington this week and more policy stimulus from major central...

Turkey to reduce dependence on foreign energy: Erdoğan

President Recep Tayyip Erdoğan said on Feb. 16 that Turkey aims to reduce its dependence on foreign energy sources. Speaking at a campaign rally for local March 31 elections in northwestern Edirne province, Erdoğan said that Turkey aims to maximize domestic resource utilization...

Russia’s Gazprombank freezes accounts of Venezuela’s PDVSA: source

Tatiana Voronova MOSCOW (Reuters) - Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under...

U.S. agency submits auto tariff probe report to White House

David Lawder, David Shepardson WASHINGTON (Reuters) - The U.S. Commerce Department sent a report on Sunday to U.S. President Donald Trump that could unleash steep tariffs on imported cars and auto parts, provoking a sharp...

Oil hits three-month high on OPEC cuts, U.S. sanctions on Iran, Venezuela

Henning Gloystein SINGAPORE (Reuters) - Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI) crude...

IMF is ready to assist Armenian government in observing inclusive economic growth

YEREVAN, February 18. /ARKA/. Armenia’s Minister of Economic Development and Investments Tigran Khachatryan had a meeting today with an IMF team, led by IMF Armenia Mission head Hossein Samiei to discuss the program of...

Russian official says Russian investors ready to invest in Armenia

YEREVAN, February 18. /ARKA/. Leonid Kalashnikov, the chairman of a Russian State Duma committee on CIS Affairs, Eurasian Integration and Relations with Compatriots, said at a briefing in Yerevan today that Russian investors are...

US trade war & sanctions open doors for Russian companies in China — Beijing...

The simmering US-China trade war and US sanctions against Russia may become an excellent opportunity for Russian firms, according to the China Overseas Development Association (CODA). “The past year has become a very important one...

Boom Bust asks if the bubble is bursting as record number of Americans fall...

Soaring car-loan debt in the US is a disturbing sign for the economy, showing that the middle class is in “serious economic trouble” as people sacrifice their basic necessities, Professor of Economics Richard Wolff...

Amaz-off: Online retail giant Amazon cancels New York HQ plans after massive backlash

Megacorporation Amazon has shelved plans to build its second headquarters in New York City. The project had been met with generous tax breaks from the city authorities, and intense backlash from local residents. "After much...

No way back for Nord Stream 2 pipeline project – Germany

The Nord Stream 2 gas pipeline project, controlled by Russian energy giant Gazprom, is unlikely to be cancelled, according to Annegret Kramp-Karrenbauer, the new leader of Germany’s Christian Democratic Union (CDU). “Nord Stream 2 is...

Amazon cancels New York City campus plan

Amazon has said it will not build a new headquarters in New York, citing fierce opposition from state and local politicians. The dramatic turnabout comes just months after the firm named New York City one...

Russian Energy Minister: We Avoided $25 Oil With OPEC Deal

By Tsvetana Paraskova The OPEC/non-OPEC production cut agreement has significantly benefited Russia’s budget and companies, as it put a floor under oil prices, Russian Energy Minister Alexander Novak said on Thursday. Oil prices could have dropped to US$25 a...