Economy

Energy units lift Siemens' profit well above forecasts

04 May 2016
German industrial group Siemens beat expectations for second-quarter profit as it accelerated a cost-cutting programme and lifted its savings target for the year on Wednesday. The easing of sanctions on Iran boosted earnings at its Power...
Yes

Afreximbank seeks to raise US$3 bln this year: bank president

 African export-import bank
04 May 2016
The African Export-Import Bank (Afreximbank) will seek to raise around US$3 billion this year via Eurobonds, syndications and bi-lateral and institutional lending in order to finance its activities, the bank's president told Reuters on...
Yes

Saudi plans stock market reforms to draw foreign money

03 May 2016
Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the kingdom grapples with damage to its finances caused by low oil prices....
Yes

Tokyo slide keeps mood downbeat

02 May 2016
A 3 percent plunge in the Tokyo stock exchange and falls in European banking shares added to a gloomy global financial mood on Monday, pushing oil prices lower and the dollar to an 18-month low against the yen. With trading thinned out by...
Yes

Kuwait freedoms make austerity drive tricky for government

02 May 2016
A three-day strike by oil workers in Kuwait last month over pay reforms shows the government faces considerable opposition as it prepares to push through painful and controversial cuts to longstanding welfare benefits. Oil-exporting states...
Yes

Halliburton and Baker Hughes scrap $28 billion merger

02 May 2016
Oilfield services provider Halliburton Co (HAL.N) and smaller rival Baker Hughes Inc (BHI.N) announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. The tie-up...
Yes

Daimler hires Deloitte for internal emissions probe

01 May 2016
Daimler (DAIGn.DE) has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said. The investigation is...
Yes

Blacklisted oil tanker returns to Libya's Zawiya port

01 May 2016
A tanker that Libya's rival eastern government had been using to try to export oil in defiance of the Western-backed administration in Tripoli returned to the country on Saturday, after it was blacklisted by the United Nations, the...
Yes

IEA chief says oil price bottoming depends on global growth

01 May 2016
International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, providing that the health of the global economy does not pose a concern. Oil prices hit 2016 highs on Friday with Brent crude LCOc1....
Yes

Apple's stock suffers worst week since 2013

30 Apr 2016
Apple Inc on Friday ended its worst week on the stock market since 2013 as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake. Shares of Apple, a mainstay of...
Yes