 | Full faith in dollar peg, yet
need to keep a check: QCB QATAR´S central bank has broken
ranks with other monetary authorities
in the oil-rich Gulf region to
express its first public concern about
the longstanding policy of linking its
currency to the US dollar.
While reaffirming that the central
bank intends...
|
|
| | OPEC to allow Saudi Arabia
to make output decision |  OPEC prepared to keep oil
output limits on hold on
Thursday, leaving swing producer
Saudi Arabia to unilaterally
decide whether it needs
to scale back supplies to stem
a price slide.
Most in the Organisation of
the Petroleum Exporting
Countries want cartel number
one Saudi Arabia to cut back to
defend oil prices at $100 a barrel
but Riyadh is keen to prevent
high fuel costs hampering
a return to stronger economic
growth in the West.
Extra oil from Saudi is largely
responsible for lifting OPEC
output to 31.6 million bpd, well
in advance of the group´s formal
30-million-bpd target.
"In my opinion we should be
keeping to the ceiling, the ceiling
we agreed in December,"
said Angolan Oil Minister Jose
de Vasconcelos.
"In all... | | | Kenya Airways looks for cost cuts after profit plunge |
 KENYA Airways will cut costs
this year to protect its bottom
line, its chief executive said on
Thursday, after a sharp rise in
its fuel bill hit annual profits.
The airline, which is
owned 26.73 percent by Air
France KLM and 29.8 percent
by the Kenyan government
following this month´s
rights issue, is ranked among
the largest carriers in sub-
Saharan Africa, alongside
South African Airways and
Ethiopian Airlines.
Titus Naikuni said the
cost-cutting measures would
be far-reaching and affecting
procurement, staff productivity
and fuel costs but
would be preceded by a thorough
review of the airline´s
cost structures.
"You can´t let costs run
away with you," he told an
investor briefing after the
company reported a 57 percent
drop in pretax... | | | Merkel issues stark eurozone
warning as Spain struggles |  CHANCELLOR Angela
Merkel warned that
Germany alone cannot solve
the eurozone crisis as
Spain´s borrowing costs
surged to a record high level
on Thursday after a Moody´s
downgrade.
With "all eyes" set to focus
on Germany at a key G20
summit in a few days´ time,
Merkel sought to play down
expectations that Europe´s
top economy and effective
paymaster could conjure up
all the answers.
"Germany is strong,
Germany is an engine of
economic growth and a stability
anchor in Europe," she
said.
"But Germany´s powers
are not unlimited," Merkel
warned in a speech to
German lawmakers outlining
Berlin´s position ahead
of the June 18-19 meeting of
G20 leaders in Los Cabos,
Mexico.
Four days before Greek... | |
|
|
|
