Banks in pain from oil market exposure? When considering the oil markets and its falling oil prices, banks must be considered as a risky area for 2015 says Steen Jakobsen, chief economist at Saxo Bank.
UPDATE 1-Russian oil tsar to meet OPEC as Saudis keep market guessing VIENNA, Nov 25- Russia's most powerful oil official, Igor Sechin, was due in Vienna on Tuesday for talks with OPEC members as the group's leader Saudi Arabia kept the market guessing about its response to flagging oil prices. Sechin, the head of state oil company Rosneft and a close ally of Russian President Vladimir Putin, is expected to meet OPEC officials amid...
| By: Rania El Gamal and Amena Bakr
Human rights groups release anti-surveillance tool Amnesty International says the tool released Thursday, called Detekt, is designed for right activists and journalists but will be freely available to anybody who fears their computer is being used to monitor them. Developer Claudio Guarnieri, a security researcher based in Germany, says Detekt can currently find eight different pieces of spy software,...
Source: The Associated Press
Navy secretary racks up 930K miles in world travel WASHINGTON- The Navy secretary has spent more than a full year of his five-year tenure on overseas travel, racking up more than 930,000 miles on trips that cost the taxpayer more than $4.7 million. Ray Mabus, the former Mississippi governor, has taken at least 40 trips outside the U.S as of July 2014, meeting officials and visiting sailors and Marines in more than...
Source: The Associated Press
| By: LOLITA C. BALDOR, Associated Press
India urges higher pay for millions of Gulf workers NEW DELHI/ DUBAI/ RIYADH, Nov 17- India is pressing rich countries in the Gulf to raise the wages of millions of Indians working there, in a drive that could secure it billions of dollars in fresh income but risks pricing some of its citizens out of the market. So India's campaign for much higher pay could have an impact on economies around the region, especially if it...
| By: Rupam Jain Nair, Praveen Menon and Marwa Rashad
UPDATE 2-OECD sees plans by G20 nations topping global growth target BRISBANE, Australia, Nov 14- The OECD said on Friday the plans of G20 nations to boost the world economy could beat their target of adding 2 percentage points to global growth by 2018, though geopolitical risks such as Ukraine and Ebola were mounting. Angel Gurria, the secretary-general of the Paris- based Organisation for Economic Co-operation and Development,...
| By: Lincoln Feast and Jane Wardell
UPDATE 1-Shares in biggest Saudi bank jump 10 pct on listing DUBAI, Nov 12- Shares in Saudi Arabia's biggest lender, National Commercial Bank, jumped their daily 10 percent limit upon listing on Wednesday after a $6 billion IPO, the largest ever in the Arab world and the second-biggest globally this year. Bahrain- based Securities& Investment Co rated NCB a "high conviction buy" with a target price of 72 riyals, citing its...
| By: Olzhas Auyezov
Shares in biggest Saudi bank jump 10 pct on listing DUBAI, Nov 12- Shares in Saudi Arabia's biggest lender, National Commercial Bank, jumped their daily 10 percent limit upon listing on Wednesday after a $6 billion IPO, the largest ever in the Arab world and the second-biggest globally this year. Bahrain- based Securities& Investment Co rated NCB a "high conviction buy" with a target price of 72 riyals, citing its...
OPEC feeling pain as oil slides to new 4-year low Expectations of growing U.S. crude supplies sent oil prices to a new four-year low and are turning up the heat on OPEC members to cut production at their meeting this month.
| By: Patti Domm