A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.

• January 31, 2015

The EU has prepared a draft statement for the foreign ministers of its 28 members to agree to extend sanctions against Russia by six months, add new people to the sanctions list and prepare new measures.

• January 28, 2015

Royal Dutch Shell (RDSa.L) signed a deal with Iraq on Wednesday worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, boosting the country's aim to become a major regional energy player and diversify its income.

• January 28, 2015

Euro zone finance ministers said they were ready to work with the new anti-bailout government Greek government, but warned the country that its deep economic problems had not changed because of an election, the chairman of the ministers said on Monday.

• January 27, 2015

European Union leaders asked their foreign ministers on Tuesday to consider possible new sanctions on Russia in response to a rebel offensive in eastern Ukraine, but a final decision to impose them is likely to be left to a summit next month.

• January 27, 2015

Germany's foreign minister hinted at further sanctions on Russia on Monday, saying the European Union would have to react if pro-Russian separatists launched a broad offensive on the east Ukrainian port city of Mariupol.

• January 26, 2015

U.S. stocks fell on Monday after a decisive Greek election victory by the Syriza party spurred concern over fresh instability in the euro zone, even as the possibility of Greece leaving the bloc was considered remote.

• January 26, 2015

China called on India on Monday to take more steps to satisfy the standards of a global organization that controls atomic exports after U.S. President Barack Obama said the United States was in favor of India joining the group.

• January 26, 2015