Today: November 22, 2017

To Contribute →

Login Register

World

Oil prices slide after IEA casts doubt over demand outlook

SINGAPORE (Reuters) - Oil prices fell more than 1 percent on Wednesday, continuing Tuesday’s slide after the International Energy Agency cast doubts over the past few months’ narrative of tightening fuel markets. Brent crude futures LCOc1 were at $61.33 per barrel at 0515 GMT, down 88 cents, or 1.4 percent from their last close. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55 per barrel, down 70 cents, or 1.3 percent. The price falls mean that crude prices are now down by around 5 percent since hitting 2015 highs last week, ending a 40-percent rally between June and early November. “Crude prices dropped dramatically after the IEA forecast a gloomy outlook for the near future ... The drop was arguably exacerbated b...

November 15, 2017 at 12:20 pm | News Desk

Zimbabwe crisis: Army seizes broadcaster but denies coup

Zimbabwe's military has read out a statement after taking over the national broadcaster, ZBC, saying it has taken action to "target criminals". However, it said this was not "a military takeover of government" and President Robert Mugabe was safe. Heavy gunfire and artillery were heard in northern suburbs of the capital, Harare, early on Wednesday. Zimbabwe's envoy to South Africa, Isaac Moyo, earlier dismissed talk of a coup, saying the government was "intact". The statement read out by Maj Gen Sibusiso Moyo came hours after soldiers overran the headquarters of ZBC. He said: "We wish to assure the nation that his excellency the president... and his family are safe and sound and their security is guaranteed." The statement ad...

November 15, 2017 at 11:40 am | News Desk

No change in Pakistan’s behaviour: Top US general in Afghanistan

BRUSSELS: The commander of the NATO forces in Afghanistan, US Army Gen. John Nicholson, said Thursday that Pakistan had not changed its behaviour since President Donald Trump announced his new policy for Afghanistan. When asked whether he had seen any increased cooperation from Pakistan with regards to eliminating Taliban sanctuaries, Nicholson said "No, I haven't seen any change yet in their behavior." He was speaking to the reporters on the margins of a gathering of NATO defence ministers in Brussels this week. "You've heard the public statements from President Trump, from (Defense Secretary James) Mattis, from (Chairman of the Joint Chiefs Gen. Joseph Dunford) from (Secretary of State Rex) Tillerson, so we are engaging at the ve...

November 10, 2017 at 2:27 pm | News Desk

Saudi graft inquiry spreads beyond borders as UAE examines bank accounts

ABU DHABI/DUBAI (Reuters) - Saudi Arabia’s crackdown on corruption has spread beyond its borders as regulators in the United Arab Emirates ask UAE banks for information about Saudi citizens detained in the investigation, a possible prelude to freezing their accounts. The UAE central bank has requested commercial banks and finance companies in the UAE to provide details of the accounts of 19 Saudis, commercial bankers told Reuters on Thursday, declining to be named because of the sensitivity of the matter. Almost all of the 19, including billionaire Prince Alwaleed bin Talal and former National Guard chief Prince Miteb bin Abdullah, are known to be among dozens of senior officials and businessmen detained in the corruption inquiry. ...

November 9, 2017 at 4:49 pm | News Desk

IMF, BoJ member say Japan needs to keep stimulus running

TOKYO/MIYAZAKI: The IMF urged Japan to maintain its massive monetary stimulus to boost consumer prices, a view echoed by a central bank board member, reinforcing expectations policy will remain accommodative. International Monetary Fund Managing Director Christine Lagarde said Bank of Japan Governor Haruhiko Kuroda was doing the right thing by committing to keep the money spigot wide open until inflation hit his 2 percent target. “One of the strengths of central bankers is to be very clear in their communication and determined in their resolve, which clearly Governor Kuroda has demonstrated,” Lagarde told Reuters on Wednesday. The BOJ has faced mounting criticism that its huge asset purchases are distorting markets and pushing ...

November 9, 2017 at 4:18 pm | News Desk

Putin, Trump to meet Friday in Vietnam

MOSCOW: Russian President Vladimir Putin and his US counterpart Donald Trump will meet Friday in Vietnam, Kremlin aide Yuri Ushakov told Russian news agencies on Thursday. The meeting “will be on November 10,” but the exact time is being decided, Ushakov told the official TASS agency. Both leaders will attend the Asia-Pacific Economic Cooperation summit in the Vietnamese city of Danang. The pair last met at the G20 summit in Germany in July. On Sunday Trump said he thinks “it’s expected we’ll meet with Putin” to discuss North Korea. Relations between Moscow and Washington have plummeted as a US probe has accused Trump’s former campaign aides of secretly meeting Kremlin-connected officials. Russia has vehement...

November 9, 2017 at 4:12 pm | News Desk

Afghan defence minister, army chief resign after Taliban attack

KABUL: Afghan President Ashraf Ghani accepted on Monday the resignation of the defence minister and army chief of staff after more than 140 government soldiers were killed in a Taliban attack on an army base last week, the president´s office said. "Defence Minister Abdullah Habibi and Army Chief of Staff Qadam Shah Shahim stepped down with immediate effect," the presidential palace announced in a post on its Twitter account. Shah Hussain Murtazawi, acting spokesman for Ghani, told Reuters the resignations were because of Friday´s attack in the northern city of Mazar-i-Sharif. At least 140 soldiers were killed and many wounded, an official in the city said on Saturday. Other officials said the toll was likely to be even higher.

April 24, 2017 at 1:01 pm | News Desk

Cost of Brexit: The impact on business and the economy so far

Brexit negotiations have yet to begin but already the prospect of the UK splitting from the rest of the European Union has roiled the world of business, sending shockwaves through a slew of sectors. Thousands of jobs look set to move and while it’s impossible to attach a price tag to Brexit, industry bodies, consultants, economists and accountants have already published dozens of reports on the possible impact of new tariffs and a restriction on the movement of people. Here’s an overview of what we know. The broader economy  The most dramatic and salient economic impact of the Brexit decision came on the night of the decision itself. The pound suffered its biggest one-day fall against the dollar on record as currency trade...

April 22, 2017 at 4:19 pm | News Desk

Arrest of Wikileaks founder is top “priority” says US Attorney General

WASHINGTON: The arrest of WikiLeaks founder Julian Assange is a US “priority,” Attorney General Jeff Sessions said Thursday, as media reports indicated his office was preparing charges against the fugitive anti-hero. “We are going to step up our effort and already are stepping up our efforts on all leaks,” Sessions, America’s top cop, said at a news conference in response to a reporter’s question about a US priority to arrest Assange. The Justice Department chief said a rash of leaks of sensitive secrets appeared unprecedented. “This is a matter that’s gone beyond anything I’m aware of. We have professionals that have been in the security business of the United States for many years that are shocked by the number ...

April 21, 2017 at 11:48 am | News Desk

British PM calls for early general election on June 8

LONDON: British Prime Minister Theresa May called Tuesday for an early general election on June 8 in a surprise announcement as Britain prepares for delicate negotiations on leaving the European Union. "We need a general election and we need one now. We have at this moment a one-off chance to get this done... before the detailed talks begin," May said, despite previously denying that she would do so. Speaking outside her Downing Street residence in London, May warned that "division in Westminster will risk our ability to make a success of Brexit". She said parliament would be asked to vote Wednesday to decide on whether or not to hold an election. The dramatic announcement comes after months of tumult in British politics followi...

April 18, 2017 at 4:34 pm | News Desk

Trump congratulates Erdogan on disputed Turkey poll

Donald Trump called Turkish President Recep Tayyip Erdogan to congratulate him on winning a referendum granting him sweeping new powers that exposed bitter divisions in the country. The White House said they also discussed a US missile strike in Syria and the fight against the Islamic State group. Trump's congratulations on Monday were in contrast with EU leaders who have been reserved in their reaction to the narrow victory and even his own State Department, which earlier noted concerns expressed by international observers over the "uneven playing field". Returning in triumph to his presidential palace in Ankara, Erdogan angrily rejected the criticism, telling the monitors: "Know your place." The referendum was seen as crucial ...

April 18, 2017 at 3:54 pm | News Desk

UN rejects Saudi-led coalition call to supervise Yemen port

The United Nations on Monday rejected a call by the Saudi-led coalition battling rebels in Yemen for the key port of Hodeida to be placed under its supervision. The coalition made the appeal following an attack on a boat carrying Somali refugees off the coast of Yemen that killed 42 people, and as the country faced famine. UN spokesman Farhan Haq said the warring sides in Yemen have a responsibility to protect civilian infrastructure and civilians. “These are not obligations they can shift to others,” Haq said. Hodeida, which is a key transit point for desperately-needed imports, is controlled by Houthi rebels fighting the Saudi-backed government. The coalition said in a statement Sunday that it was not responsible for th...

March 21, 2017 at 12:50 pm | News Desk

China prepares to counter US trade penalties

BEIJING: China’s government has been seeking advice from its think-tanks and policy advisers on how to counter potential trade penalties from US President Donald Trump, getting ready for the worst, even as they hope for business-like negotiations. The policy advisers believe the Trump administration is most likely to impose higher tariffs on targeted sectors where China has a big surplus with the United States, such as steel and furniture, or on state-owned firms. China could respond with actions such as finding alternative suppliers of agriculture products or machinery and manufactured goods, while cutting its exports of consumer staples such as mobile phones or laptops, they said. Other options include imposing tax or other res...

March 21, 2017 at 12:17 pm | News Desk

China wants Russia to Calm India and save CPEC

China is eager to see Russia join The China-Pakistan Economic Corridor (CPEC) project, according to a recently published article in Globaltimes, though the Russian embassy in Islamabad denied the reports. “Russia’s participation in the CPEC, including the use of the Gwadar Port, could give a boost to Sino-Russian cooperation and be a demonstration project of One Belt and One Road (OBOR) that will enhance future multinational cooperation,” writes Li Xing. That’s certainly true. A sound infrastructure is a pre-condition for the economic integration of neighboring countries. But the real reason behind China’s eagerness to bring Russia to CPEC project is elsewhere in my opinion: use Russia to appease India, which claims control ...

January 9, 2017 at 7:54 pm | News Desk

Trump election: Russia ‘tired’ of US hacking ‘witch-hunt’

Russia says US allegations that it ran a hacking campaign to influence the American presidential elections are "reminiscent of a witch-hunt". Kremlin spokesman Dmitry Peskov told reporters Moscow was tired of the accusations. He said a report released by US intelligence agencies detailing the allegations was groundless. It is the first official reaction from Russia since President-elect Donald Trump received the report on Friday. The unclassified report contains allegations that Russian President Vladimir Putin had ordered the hacking of Democratic Party emails to damage Donald Trump's Democrat rival, Hillary Clinton, and influence the election. In his comments on Monday, Mr Peskov said Russia "categorically denied that Mosco...

January 9, 2017 at 7:24 pm | News Desk

The truth about the luxury of Qatar Airways

DOHA, QATAR. Qatar Airways is regarded as one of the most luxurious airlines in the world, and has received numerous awards for their onboard service. Flight attendants Saga and Gina testify about the other side of the glamour. How employees are forced to sign contracts that prevent them from governing their own life choices. Swedish newspaper Expressen's reporter Johanna Karlsson commutes between Doha and small Swedish towns in her depiction of a five-star airline. Gina knows she is not allowed to speak to the guard. Not while he's been stationed at his post for twelve hours and is starting to get sleepy. Not while he's longing for his Nepalese family and she is just coming off a flight to Kathmandu. Not while he mentioned that he earns...

April 26, 2016 at 5:01 pm | News Desk

Page 1 of 512345