UNITED NATIONS— The U.N. Security Council is strongly condemning any sale of oil from Syria or Iraq by terrorist groups and is reminding all countries that buying this illegally obtained oil violates U.N. sanctions.» Read More
As it seeks a new chief to lead it out of a negotiating death-spiral, the World Trade Organization looks doomed to be fatally undermined by new global carve-ups that will leave many of the world's poorest sidelined.
Venezuela's top court ruled that Hugo Chavez 3rd term inauguration could be delayed, backing both the president-elect and his supporters.
Japan launched its second-ever trade complaint against China at the World Trade Organization on Thursday, challenging Beijing's claim that Japanese steel firms are competing unfairly in the world's biggest steel market.
Europe's leaders agreed to press on with further steps to shore up their finances and sustain momentum in tackling the debt crisis on Friday, a day after clinching a deal on banking supervision and approving long-delayed aid to Greece.
OPEC agreed on Wednesday to hold its oil production limit unchanged at 30 million barrels a day, delegates at the meeting said. Ministers of the Organization of the Petroleum Exporting Countries continued in closed session to debate who should be the group's next secretary general. They were divided over candidacies from Saudi Arabia and Iraq.
Dominique Strauss-Kahn and a New York City hotel maid have settled her lawsuit that alleged sexual assault.
The Asian Development Bank lowered its 2012 and 2013 growth estimates for developing Asia on Friday as frail global demand drags on the region.
Germany and France publicly clashed on Tuesday over plans to put the European Central Bank in charge of supervising banks, deepening a dispute over the scope of the ECB's powers that threatens to undermine one of Europe's boldest reforms.
Greece has hired Deutsche Bank and Morgan Stanley to conduct a voluntary buy back of its debt, a senior finance ministry official told Reuters.
Greece’s international lenders once again failed to reach an agreement on how to bring down its debt levels, delaying the release of vital aid to Athens and pushing the euro lower. Yet all is not lost for Greece and the single currency, analysts told CNBC.
The euro, which hit a two-month low against the dollar on Tuesday as hopes that Greece would receive essential aid soon, faces further losses as concern about Greece’s future grow, currency analysts warn.
The state’s grip on the economy has been tightening. Could foreign pressure persuade the new leadership to reverse course?
Will they or won’t they? That’s the big question markets have been asking about Spain for the past few weeks—whether the country will ask for a credit line from Europe’s rescue fund and trigger a bond-buying program by the European Central Bank (ECB).
Malaysia, which refused bailout from the International Monetary Fund (IMF) during the Asian financial crisis, says Greece should be given more time to implement reforms and clean up its finances, otherwise an overly-stringent austerity drive could push the country into a prolonged recession and make recovery even more unlikely.
A dispute between the U.S. and China over illegal trade practices, which has sparked worries over a potential trade war between the world’s two largest economies, has “more bark than bite”, according to the World Trade Organization’s (WTO) Director General Pascal Lamy.
The European Central Bank needs to go beyond lowering interest rates – which has already been priced in by markets – to boost growth and authorities may be better off ramping up their asset-purchasing programs instead, economists tell CNBC.
China’s dominance over rare earths supply could be challenged in the coming years as investors pour money into exploration outside China, says the CEO of Canadian rare earths miner Quest Rare Minerals.
A day after the United States, the European Union and Japan filed a joint complaint to the World Trade Organization against China’s export restrictions on strategic rare earth metals, the President of exploration firm U.S. Rare Earths tells CNBC that the trade case will not help solve current supply issues.
The World Health Organization recently released a report on air quality in countries around the globe, on which we based a list of the ten most polluted countries.
The US and Japan “have yet to produce credible medium-term plans” to stabilize their debt, while other countries need to provide more clarity on how their fiscal consolidation targets will be met, according to the Organisation for Economic Cooperation and Development’s 2011 Economic Outlook, which says that risks to the global recovery remain significant.