Economy News

Hedge funds bet big on oil as OPEC gives them a free put option: Kemp


LONDON Hedge funds and other money managers have amassed a very large bullish position in crude oil futures and options without so far having much impact on oil prices.

Euro zone mulls IMF involvement in Greece, mission to unblock new loans

BRUSSELS Euro zone finance ministers will discuss on Monday what reforms Greece must make to release new loans from the bloc's governments and get the International Monetary Fund to join the bailout.

Budget 2017, IMF 20 Feb 2017

After seven years of bailouts, Greeks sink yet deeper in poverty

ATHENS Greek pensioner Dimitra says she never imagined a life reduced to food handouts: some rice, two bags of pasta, a packet of chickpeas, some dates and a tin of milk for the month.

Budget 2017, 20 Feb 2017

Wanted: a CEO willing to hold Greek banking's "poisoned chalice"

ATHENS Wanted: a chief executive to run Greece's bank-rescue fund. Job description: work hard and pray for a miracle.

Budget 2017, 20 Feb 2017

Euro zone's Dijsselbloem says next loan to Greece may not come soon

BRUSSELS The next disbursement of financial aid to Greece from its euro zone lenders may not be imminent as talks are still complicated, the head of euro zone finance ministers said on Monday, adding that the target was to secure a deal as soon as possible.

Budget 2017, 20 Feb 2017

Greece and euro zone govts agree to resume bailout talks - Greek government official

ATHENS Euro zone finance ministers and Greece agreed on Monday to resume negotiations over its bailout review next week, and to be concluded swiftly afterwards, a Greek government official said.

Top News, Budget 2017, 20 Feb 2017

Germany's Schaeuble believes IMF will be part of Greek bailout

BRUSSELS Institutions representing Greece's lenders have reached a common position on what is needed to close a review of Greek bailout reforms that might help euro zone ministers agree to send experts back to Athens to conclude the review, German finance minister Wolfgang Schaeuble said on Monday.

Budget 2017 20 Feb 2017

India looks to expand energy ties with Myanmar

NEW DELHI India plans to sell refined crude oil products to Myanmar as part of New Delhi's efforts to deepen ties with its eastern neighbour, which is expected to see strong demand for fuels as it builds new roads, factories, utilities and airports.

Top News, Budget 2017, 20 Feb 2017

ECB's Lautenschlaeger: if inflation rise persists, rate hike should come this year

BERLIN European Central Bank board member Sabine Lautenschlaeger has said the ECB should raise interest rates before the end of the year if euro zone inflation establishes itself at the ECB's target level.

Budget 2017, 19 Feb 2017

Global Economy Weekahead: How do you say deja vu in Greek?

LONDON It seems as if we have been here before: the euro zone fretting that a crisis with Greece will balloon out of all proportion while the government in Athens says it will not impose one euro more in cuts on its austerity-battered public. | Video

Budget 2017, 20 Feb 2017


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Gold prices edge down, awaits hints on pace of U.S. rate hikes

Gold prices eased slightly on Tuesday amid a firmer dollar as investors waited on clues on the timing of U.S. interest rate hikes in a host of speeches by Federal Reserve officials.