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  • CHICAGO, Feb 9- Bunge Ltd has launched legal proceedings against Egypt's state grain buyer over a rejected cargo of French wheat, highlighting uncertainty among suppliers who are already charging a risk premium to the world's largest wheat importer. Egypt, which buys wheat to provide its poorest citizens with bread, has in recent weeks fueled confusion in the...

  • UNITED NATIONS, Feb 9- A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation, according to a new report by United Nations monitors. The U.N. Security Council's Panel of Experts on North Korea, which monitors implementation of sanctions on Pyongyang,...

  • *Saudi labor ministry issues statement on unpaid wages. DUBAI, Feb 9- Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on the economy from low oil prices, which are causing the government to slow spending on building projects. In an unusual move this week, the Ministry of Labour issued a public...

  • We must all get used to a certain type of lifestyle that does not rely entirely on the state, " Saudi Arabia's ruler warned. In fact they were spoken almost two decades earlier by Crown Prince Abdullah, the kingdom's de facto regent, at the Gulf Cooperation Council summit held in Abu Dhabi on Dec. 8, 1998. Oil revenues have been fundamental in shaping the modern state...

  • MUMBAI, Feb 9- Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday. Last week, Bloomberg reported that the company was in talks with Saudi Arabia's biggest oil company Saudi Aramco and National Iranian Oil Company to sell a...

  • TEL AVIV, Israel _ Israel Chemicals Ltd. on Tuesday reported fourth-quarter profit of $96 million. The Tel Aviv, Israel- based company said it had net income of 8 cents per share. For the year, the company reported profit of $509 million, or 40 cents per share.

  • NEW YORK— The Goodyear Tire& Rubber Co. on Tuesday swung to a fourth-quarter loss on charges and tire sales fell, but the results still topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share. Three analysts surveyed by Zacks expected $4.02 billion.

  • TEL AVIV, Israel _ Compugen Ltd. on Tuesday reported a loss of $472,000 in its fourth quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share. Three analysts surveyed by Zacks expected $4.3 million.

  • *Mideast OPEC producers fight for market share in Asia. DUBAI, Feb 9- Iraq has raised the March official selling price for Basra Light crude to Asia by $0.20 to minus $2.60 a barrel against the average of Oman/ Dubai quotes from the previous month, the State Oil Marketing Organization said. Basra Heavy to Asia in the same month was priced at minus $6.30 a barrel to Oman/...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. Hopes of an accord to shore up prices which are languishing close to 2003 have dimmed over the past week, but the meeting between cash-strapped...

  • DUBAI, Feb 8- Iran plans to turn itself into a major food exporter, hoping the lifting of sanctions will boost international trade and allow investment in the agricultural sector, an official in Iran's state grain buying agency said. Foreign business delegations have flocked to Tehran since the United States, European Union and United Nations lifted...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. After a flurry of diplomacy over the last two weeks about a possible production cut roiled oil markets, Sunday's meeting between cash-strapped...

  • Brent futures fell 68 cents to $33.38 a barrel, a 2 percent loss, by 10:36 a.m. EST, paring a fall of as much as 3.3 percent earlier in the session. "With the possibility of a production cutting deal quickly fading into the sunset, market participants are once again left to focus on the reality of the oversupplied global market," Energy Management Institute analyst...

  • King of Bahrain in Russia for talks with Putin Monday, 8 Feb 2016 | 10:37 AM ET

    SOCHI, Russia— President Vladimir Putin has hosted the ruler of Bahrain for talks focused on the Syrian crisis and economic cooperation. Putin hailed Bahrain as Russia's "important partner in the Gulf and the entire Middle East" at the start of the talks Monday in the Russian president's residence in the Black Sea resort of Sochi. Putin presented Bahraini King...

  • UPDATE 5-Oil prices slide, supply overhang in focus Monday, 8 Feb 2016 | 7:19 AM ET

    *Focus shifting to Fed testimony, IEA, EIA and OPEC data. *Iran says European buyers agreed to lift its crude. Global benchmark Brent futures were down 68 cents at $33.38 at 1212 GMT, while U.S. crude futures lost 81 cents to $30.08.

  • *Focus shifting to Fed testimony, IEA, EIA and OPEC data. LONDON, Feb 8- Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between members of the Organization of the...

  • DOHA, Qatar— The Qatari state oil company, Qatar Petroleum, says it has reached a deal with Chevron to acquire 30 percent of its stake in offshore drilling areas in Morocco. Under the terms of the deal announced Monday, Chevron will hold onto a 45- percent interest in the offshore leases, while Morocco will retain a 25 percent stake. The drilling areas are known as Cap...

  • LAUNCESTON, Australia, Feb 8-- One of the dominant themes in Asia's oil products markets is the rise of Chinese fuel exports, so much so that the decline in shipments from India barely gets mentioned. India has in recent years been a fairly major player in Asia's market for refined products, given the presence of plants designed to take advantage of the country's...

  • *Market awaiting USDA supply outlook for trading cues. SYDNEY, Feb 8- U.S. soybeans fell to a 10- day low on Monday as rains across Argentina eased fears over dry weather curbing yields, although trading was light due to Lunar New Year holidays. Chicago Board of Trade front-month soybeans were unchanged at $8.67-1/ 2 a bushel by 0238 GMT, near a session low of $8.67, the...

  • SYDNEY, Feb 8- U.S. soybeans dipped to a 10- day low in Asian trade on Monday as rains in Argentina relieved pressure on crops, although trading was muted amid Lunar New Year holidays. *Chicago Board Of Trade front-month soybeans eased slightly to $8.67 a bushel, the lowest since January 29. *Front-month corn rose 0.1 percent to $3.66 a bushel, having earlier hit a low of...