An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday.Health and Scienceread more
Saudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's...Futures & Commoditiesread more
U.S. stock futures sank amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The recommendations include changing corporate reporting structures, creating a new safety group, and changing the cockpits of future planes to accommodate new pilots with...Aerospace & Defenseread more
The state would become the second in the country, behind Michigan, to ban the sale of fruit flavored e-cigarettes, which are popular with teenagers.Health and Scienceread more
China's foreign aid is sharply in focus this week with an unprecedented new data trove showing the country's growing global reach and detailing how Beijing spends its cash.
In recent decades, the world's second largest economy has evolved from an aid recipient to a net aid donor. But a lack of official information on China's development activities had prevented the international community from understanding where and how the country spends its foreign aid.
That's because the government considers its international development finance program to be a "state secret," according to AidData, a research lab at Virginia-based College of William & Mary.
In an effort to pull back the curtain on Chinese aid, AidData unveiled new data this week that tracks China's official financing, including foreign aid, concessional and non-concessional state financing, between 2000 and 2014.
During that period, Beijing committed $354.3 billion to 140 countries, the group found. In comparison, U.S. official finance stood at $394.6 billion.
A clear majority of U.S. spending was in the form of official development assistance (ODA), "the strict definition of aid," while the bulk of Chinese spending focused on other official flows (OOF), which is primarily intended for commercial projects, AidData said.
As the mainland catches up to Washington, that could have broad implications for international foreign policy.
"If the U.S. follows through on its rhetoric and scales back its global footprint, China may be well-positioned to step into the breach and cement its role as a preferred donor and lender to the developing world," Samantha Custer, AidData's director of policy analysis unit, said in a statement.
Infrastructure dominates the majority of Chinese funds, particularly transportation, the lab discovered.
Many top recipients of official Chinese development aid are members of the Belt and Road Initiative —a high-reaching program that aims to enact land and maritime trading routes across three continents.
In a separate analysis of AidData's results, research group the Brookings Institution found that Chinese lending was uncorrelated with governance. Among the top 20 borrowers from China between 2012 and 2014, 13 ranked poorly on the World Bank's indicator for rule of law, Brookings revealed in the below map.
"The danger for China is that it is lending lots of money to risky countries, generally on commercial terms," Brookings said in a recent note.
"In a poor governance environment, projects are less likely to proceed well and to generate growth, creating repayment difficulties."