Oil prices around US$100, despite hurricanes, OPEC cuts
NEW YORK, September 12, 2008 (AFP) - Oil prices closed narrowly mixed Friday amid a near-total shutdown of offshore rigs in the Gulf of Mexico, where a massive …
World
Catastrophe looms as Hurricane Ike pounds Texas coast
GALVESTON, September 13, 2008 (AFP) - Mammoth Hurricane Ike lashed the Texas Gulf coast with rain and wind late Friday, flooding parts of Galveston and …
Venezuela expels US ambassador, threatens to cut oil
CARACAS, September 12, 2008 (AFP) - Venezuelan President Hugo Chavez expelled the US envoy to Caracas late Thursday and threatened to halt crude exports to the …
Major quake shakes northern Japan, tsunami warning
TOKYO, September 11, 2008 (AFP) - A 7.0 magnitude earthquake shook northern Japan on Thursday, the Japan Meteorological Agency said, which warned of mild …
Sex, drugs and oil: corruption scandal rocks US gov’t agency
WASHINGTON, September 11, 2008 (AFP) - US Department of the Interior employees who handled billions of dollars in oil contracts improperly engaged in sex with …
Kuwaiti shares nosedive on cash drain
KUWAIT CITY, September 11, 2008 (AFP) - Kuwaiti stocks ended the week through Thursday down six percent on lack of cashflow drained by huge IPOs and a strict …
OPEC a spectator as oil sinks below US$100
VIENNA, September 9, 2008 (AFP) - Oil prices dipped below 100 dollars for the first time since April on Tuesday as OPEC met in Vienna, with pressure growing …
Lehman Brothers in freefall as hopes fade for new capital
NEW YORK, September 9, 2008 (AFP) - Shares of Lehman Brothers went into a freefall Tuesday as hopes faded for an injection of fresh capital for the ailing Wall …
Oil prices fall to US$102, a five-month low, before OPEC meet
LONDON, September 9, 2008 (AFP) - Oil prices slumped to 102 dollars a barrel on Tuesday, the lowest level since the start of April, as the market waited to see …
EU economics chief sees economy weakening
BRUSSELS, September 9, 2008 (AFP) - EU Economics chief Joaquin Almunia warned on Tuesday that soon-to-be published growth forecasts would paint a dismal …
World growth to slow before recovery: IMF
NEW YORK, September 9, 2008 (AFP) - World economic growth is set to continue to slow in the second half of 2008 before a gradual recovery in 2009, the number …
US takes over Fannie, Freddie in bid to ease finance crisis
WASHINGTON, September 7, 2008 (AFP) - The US government took over ailing mortgage giants Fannie Mae and Freddie Mac on Sunday and placed them in a …
OPEC struggles with falling oil prices, as bubble deflates
VIENNA, September 7, 2008 (AFP) - The question facing the OPEC oil producer group which meets Tuesday is when, not if, to cut its oil production target as …
Singapore Airlines says to cut fuel surcharges
SINGAPORE, September 8, 2008 (AFP) - Singapore Airlines (SIA) said Monday it will cut fuel surcharges on some of its international flights after recent …
Kuwait says no need for oil output cut
KUWAIT CITY, September 8, 2008 (AFP) - Kuwait's Oil Minister Mohammad Al-Olaim said on Monday as he left for an OPEC meeting that he saw no need to cut the …
White House race a cliffhanger as home stretch looms
WASHINGTON, September 7, 2008 (AFP) - The historic, twisting, cliffhanger White House race is swinging into an eight-week sprint to the finish, with John …
McCain backs government takeover of mortgage giants
ALBUQUERQUE, September 6, 2008 (AFP) - Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his …
Fighting inflation best way to deal with financial crisis: ECB chief
FRANKFURT, September 5, 2008 (AFP) - A monetary policy based on fighting inflation is the European Central Bank's best weapon against volatile commodity prices …
Oil prices at US$108 after US inventory data
LONDON, September 4, 2008 (AFP) - Oil prices fell on Thursday as the market digested the latest weekly snapshot of US energy stockpiles which recorded a bigger …
End of bubble sees commodity prices tumble: analysts
PARIS, September 5, 2008 (AFP) - Sharp falls in commodity prices and a rise in the dollar mark the ending of one of the biggest ever speculative bubbles and a …