Venezuela’s Opposition Softens Proposed Oil Reform Bill

By Julianne Geiger  The oil reforms proposed by Venezuela’s opposition party led by Juan Guaido—the president that the United States and other countries have recognized—have been scaled back, according to a draft bill seen by Reuters. The...

German economy shrinks amid trade concerns, auto woes

The German economy shrank by 0.1 percent in the second quarter from the previous quarter as global trade conflicts and troubles in the auto industry weighed on Europe’s largest economy. The state statistics agency Destatis...

Turkey’s unemployment rate stands at 12.8% in May

Turkey's unemployment rate stood at 12.8% in May, the country's statistical authority announced on Aug. 15. The figure was up 3.1 percentage points compared to the same month last year, according to the Turkish Statistical Institute (TÜİK). The...

Turkey’s budget posts $12.3B deficit in January-July

Turkey's central government budget balance saw a deficit of around 68.7 billion Turkish liras ($12.3 billion) in the first seven months of 2019, the country's Treasury and FinanceMinistry announced on Aug. 15. During January-July period, Turkey's budget revenues totaled 496.4 billion Turkish liras ($88.96 billion), up...

Turkey’s budget posts $12.3B deficit in January-July

Turkey's central government budget balance saw a deficit of around 68.7 billion Turkish liras ($12.3 billion) in the first seven months of 2019, the country's Treasury and FinanceMinistry announced on Aug. 15. During January-July period, Turkey's budget revenues totaled 496.4 billion Turkish liras ($88.96 billion), up...

Turkey’s unemployment rate stands at 12.8% in May

ANADOLU AGENCY Turkey's unemployment rate stood at 12.8% in May, the country's statistical authority announced on Thursday. The figure was up 3.1 percentage points compared to the same month last year, according to the Turkish Statistical...

Asia stocks take heart in stimulus speculation

Wayne Cole SYDNEY (Reuters) - Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major...

Trump says China talks ‘productive’; Beijing vows tariff retaliation

Steve Holland MORRISTOWN, N.J. (Reuters) - U.S. President Donald Trump said on Thursday that U.S. and Chinese negotiators were holding “productive” trade talks and expected them to meet in September despite U.S. tariffs on over...

Turkey Plugs Bleeding Budget With Large Central Bank Transfer

By Cagan Koc and Fercan Yalinkilic  -  Bloomberg The Turkish government plugged its deteriorating finances in July with an outsized cash infusion from the central bank. The monetary authority transferred around 22 billion liras ($3.94 billion)...

Global stocks spooked, oil sinks as bond markets scream recession

Tomo Uetake, Wayne Cole TOKYO (Reuters) - Asian stocks slid and oil prices extended a punishing sell-off on Thursday as investors feared an historic drop in long-term U.S. bond yields could prove a herald of...

Exclusive: China curbs gold imports as trade war heats up

Peter Hobson, Yawen Chen LONDON/BEIJING (Reuters) - China has severely restricted imports of gold since May, bullion industry sources with direct knowledge of the matter told Reuters, in a move that could be aimed at...

German economy shrinks amid global trade tensions, auto woes

ASSOCIATED PRESS The German economy shrank by 0.1 percent in the second quarter from the previous three-month period as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy. The state statistics...

Cristiano Ronaldo Explains Why He’s Different from Lionel Messi

Football legend and Juventus star Cristiano Ronaldo has explained why he and Lionel Messi can be considered as the greatest footballers ever. 34-year-old Cristiano Ronaldo paid tribute to the Argentinian superstar, saying that Lionel Messi...

Women targeted for speaking Turkish in racist attack in Berlin

Two women were attacked and racially abused in Berlin after their attacker heard them speaking in Turkish, German state broadcaster Deutsche Welle Turkish reported on Tuesday. The two women were attacked by a drunk man while they...

Crude Oil Markets Brace For Fuel Market Disruption

By Tsvetana Paraskova The oil market is grappling with a lot of uncertainties in both supply and demand side factors, but one certainty sure to affect oil markets, refiners, and price differentials is just around the...

Oil Demand Growth Slowdown Isn’t Over Yet

By Irina Slav Two energy authorities reduced their crude oil demand outlooks in their latest reports. The U.S. Energy Information Administration cut its demand growth outlook by 70,000 bpd in its latest Short-Term Energy Outlook, and the International...

The Two Forces In Oil Markets That Keep Money Managers Awake At Night

By Tsvetana Paraskova Oil prices have struggled for direction over the past week, torn between the two key fundamental forces—weakening global oil demand growth and uncertainties over supply. So have hedge funds and other money managers whose...

Gas Flaring “Running Rampant” In The Permian

By Nick Cunningham Gas flaring in the Permian basin is “running rampant,” and may not be fully resolved even after new gas pipelines come online. Texas is now one of the world’s largest sources of gas flaring...

US-Greece-Cyprus-Israel want oil, gas as much East Med peace

By Kostis Geropoulos - New Europe  ATHENS – Meeting in Athens, the energy ministers of Greece, Cyprus, and Israel – Kostas Hatzidakis, Georgios Lakkotrypis, and Yuval Steinitz, as well as US Assistant Secretary of State...

China Prepares Its “Nuclear Option” In Trade War

By Simon Watkins As the trade war with the U.S. continues to escalate, China has re-engaged with Iran on three key projects and is weighing the use of what both Washington and Beijing term the ‘nuclear option’, a...