 | Anti-austerity backlash in
Europe´s elections: QNB EUROPE´Sfiscal austerity policies
are the key issue in elections taking
place in France and Greece.
They are happening in the context
of a growing backlash across
Europe against efforts to slash
deficits, according to QNB
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| | Rosneft strikes $2.5 billion
Arctic deal with Statoil |
 RUSSIA´S state oil champion
Rosneft struck a $2.5 billion
Arctic exploration deal on
Saturday with Norway´s
Statoil — its third global tie-up
in a month and a sign of its
growing global ambitions.
The new deal was signed by
the two companies´ chief executives
in the presence of
Vladimir Putin and came only
two days ahead of his swearing
in to a third presidential term.
"We value our relations
with our neighbours and are
confident that the project will
develop well," news agencies
quoted Putin as saying at the
ceremony.
"There is no question that it
will have the government´s
full support," Putin added.
The terms of the deal
announced by Rosneft. | | | Libya´s Agoco cuts oil output by 10,000 bpd |  LIBYA´S Arabian Gulf Oil
Company (Agoco) has cut oil
production by another 10,000
barrels per day (bpd) due to
protests that have closed off its
headquarters for nearly two
weeks, a spokesman said on
Saturday.
Protesters have prevented
employees from entering
Agoco´s office since April 23,
calling for more transparency
over how Libya´s new rulers are
spending its money and more
jobs for youth.
Agoco, based in the eastern
city of Benghazi, had threatened
to cut production if no
solution was found by May 3.
It first cut 20,000 bpd on
Thursday and another 10,000
bpd on Friday, spokesman
Abdeljalil Mayuf said, in a setback
for Libya´s oil ... | | | RBI eases forex inflows
after rupee´s steep fall |  THE Reserve Bank of India
announced measures on
Friday to bolster foreign currency
inflows following a
sharp fall in the rupee,
although traders said the
moves may not be enough to
stem further near-term
weakness.
The rupee is down about 9
percent since the start of
March and suffered steep
falls in the last three sessions
before recovering its daily
losses on Friday. The RBI is
believed to have stepped into
the market to defend the currency
on Wednesday and
Thursday, and possibly
Friday, traders said.
However, with limited
reserves and India´s negative
balance of payments, the RBI
has little firepower to defend
the rupee. Encouraging dollar
inflows would lend support
to ... | |
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