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  • Saudi Arabia tasks young ministers with driving economic reforms

    TOKYO -- Saudi Arabia is betting on a crop of young new ministers to get the country's ambitious economic reform plans off the ground. In a cabinet reshuffle in early May, elderly Petroleum and Mineral Resources Minister Ali al-Naimi was replaced by

    May 26, 2016 12:00 pm JST
  • Saudi Arabia tasks young ministers with driving economic reforms

    TOKYO Saudi Arabia is betting on a crop of young new ministers to get the country's ambitious economic reform plans off the ground. In a cabinet reshuffle in early May, elderly Petroleum and Mineral Resources Minister Ali al-Naimi was replaced by Kh

    May 26, 2016 12:00 pm JST
  • G-7 leaders to lay out infrastructure investment standards

    TOKYO -- Group of Seven leaders will come out with principles for infrastructure support in emerging and developing countries after this week's summit, aiming to counter growing Chinese influence in this area.The guidelines, to be included in a stat

    May 25, 2016 05:00 am JST
  • Bombs kill nearly 150 in Syrian government-held cities

    BEIRUT (Reuters) -- Bombs killed nearly 150 people and wounded at least 200 in Jableh and Tartous on Syria's Mediterranean coast on Monday in the government-controlled territory that hosts Russian military bases, monitors and state media said.Islami

    May 24, 2016 03:09 am JST
  • EgyptAir jet missing after mid-air plunge

    CAIRO/ATHENS (Reuters) -- Greek rescue workers found lifevests and bits of plastic floating in the Mediterranean after an EgyptAir jet carrying 66 passengers and crew from Paris to Cairo disappeared from radar in what Egypt said could have been a te

    May 20, 2016 04:03 am JST
  • Manufacturers looking to Moroccan export hub

    DUBAI -- Global manufacturers are increasingly keen to set up shop in Morocco, whose strategically located coastal cities could be convenient export hubs.Morocco has strong ties to former colonial power France, but Japanese companies are also expand

    May 19, 2016 07:00 pm JST
  • Commentary

    Mohamed A. El-Erian -- Saudi Arabia's bold vision for economic diversification

    LOS ANGELES -- Saudi Arabia has captured the world's attention with the announcement of an ambitious agenda, called Vision 2030, aimed at overhauling the structure of its economy. The plan would reduce historical high dependence on oil by transformi

    May 17, 2016 09:20 pm JST
  • Marubeni adding $2bn plant to Indonesian power portfolio

    TOKYO -- Marubeni will work with South Korean and local Indonesian power companies to develop a coal-fired power plant in the Southeast Asian nation -- part of efforts to grow global power operations 40% in three years in part on new projects in the

    May 17, 2016 03:25 am JST
  • Commodities eye

    Crude looks tentative on new perch in mid-$40s

    Singapore -- Crude futures touched year-to-date highs in April and held on to most of their gains entering May, despite major OPEC and non-OPEC producers gathered in the Qatari capital of Doha April 17 failing to agree on a production freeze in a la

    May 14, 2016 06:00 pm JST
  • Supply outages, US output cuts buoy oil prices

    TOKYO -- Benchmark West Texas Intermediate crude has been hovering around $46 a barrel, a six-month high, as U.S. oil production cutbacks shrink the supply glut and leave markets more sensitive to supply disruptions.State-run Saudi Aramco's decision

    May 14, 2016 01:00 pm JST
  • Saudi Arabia's fight to keep market share imperils production controls

    DUBAI/LONDON -- Saudi Arabia is digging in its heels on using oil production hikes to protect its global market share, threatening to derail measures to stabilize petroleum prices up for discussion at OPEC's June meeting.State-owned petroleum giant

    May 12, 2016 01:00 pm JST
  • Israel capitalizes on its technology chops to build up trade with Asia

    TOKYO Israel is leveraging its technological prowess in communications, defense and cybersecurity to build closer economic ties with Asia.The Middle Eastern nation is looking to reinvigorate its lackluster economy, whose growth rate is hovering be

    May 12, 2016 12:00 pm JST
  • Israel capitalizes on its technology chops to build up trade with Asia

    TOKYO Israel is leveraging its technological prowess in communications, defense and cybersecurity to build closer economic ties with Asia.The Middle Eastern nation is looking to reinvigorate its lackluster economy, whose growth rate is hovering be

    May 12, 2016 12:00 pm JST
  • Terror threat hits economies in Middle East, North Africa

    ISTANBUL -- An unending series of terrorist attacks in the Middle East and North Africa is taking a heavy toll on tourism-driven economies in the regions. Turkey, Egypt and Tunisia, which depend heavily on money spent by foreign tourists, are ge

    May 11, 2016 07:00 pm JST
  • Saudi Arabia replaces veteran oil minister in reform push

    DUBAI/LONDON -- Saudi Arabia replaced its long-serving oil minister amid a broader cabinet reshuffling Saturday, part of the country's efforts to ease its economic dependence on oil.But the retirement of Ali al-Naimi, the minister who has been the f

    May 9, 2016 05:46 am JST
  • Saudi Arabia names Khalid al-Falih energy minister to replace Naimi

    DUBAI/KHOBAR, Saudi Arabia (Reuters) -- Saudi Arabia, the world's largest crude oil exporter, on Saturday appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the p

    May 8, 2016 02:05 am JST
  • Burning questions ahead of Saudi Aramco's massive IPO

    DUBAI, United Arab Emirates -- Saudi Arabia's declaration that it will offer shares in state-owned Saudi Aramco, the world's largest oil company, is creating a global buzz. Deputy Crown Prince Mohammed bin Salman, who has a reputation for being an e

    May 3, 2016 01:00 pm JST
  • Japan consortium to cultivate veggie factory business in Mideast

    TOKYO -- A group of Japanese companies is gearing up to market vegetable factories in the Middle East, with an eye toward landing roughly 50 billion yen ($469 billion) in construction contracts in three years.Showa Denko, Marubeni and Chiyoda are mo

    May 3, 2016 05:28 am JST
  • Saudi oil exports to Japan trade higher on Asian demand

    TOKYO -- Japanese oil companies are shelling out more for crude bought under long-term contracts from Saudi Arabia and elsewhere amid strong appetite among China and other Asian economies.April-loading Arabian Light crude came to $38.48 a barrel, up

    May 3, 2016 02:00 am JST
  • Iraqi protesters breach Green Zone, storm parliament

    BAGHDAD (AP) -- Hundreds of protesters climbed over the blast walls surrounding Baghdad's highly-fortified Green Zone for the first time on Saturday and stormed into parliament, carrying Iraqi flags and chanting against the government.The breach mar

    April 30, 2016 11:26 pm JST