A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday.

• January 12, 2015

China on Monday hit back at the Philippines for criticizing Beijing's ongoing reclamation project in the disputed South China Sea, saying that its actions were within the scope of Chinese sovereignty.

• January 12, 2015

Insights into Turkish Domestic and International Politics
16 November – 31 December 2014
By John VanPool, EGF Turkey and Black Sea Regional Analyst

Key Points:

• Russian President Vladimir Putin announces the annulment of the South Stream project, proposing instead a new pipeline to run from Russia to Turkey.
• President Putin and Turkish counterpart Tayyip Recep Erdogan meet and discuss converging views on economic and energy issues, but note their stark differences on the Syrian Civil War.
• The two countries’ partnership in economic and energy sectors has yet to thaw their strategic divergence in regional affairs, especially in light of Russia’s disputed annexation of Crimea and the different approaches to the conflict in Syria.
• Gulen Movement adherents, including the chief editor of the country’s largest daily newspaper, are arrested on allegations of their part in a coup conspiracy.
• Both the Trans-Adriatic and Trans-Anatolian pipeline projects might be boosted by South Stream’s demise, as the two projects lead the way in the burgeoning Southern Gas Corridor.
• Turkey will stick to its deficit cutting plans despite low energy import prices, though unemployment continues to rise while the lira loses value to the American dollar.

• January 12, 2015

German Chancellor Angela Merkel told Russian President Vladimir Putin on the phone on Saturday that a four-way summit to discuss the situation in eastern Ukraine would not take place until there was real progress on the Minsk peace plan.

• January 11, 2015

The People's Bank of China will continue to maintain "prudent" monetary policy in 2015, keeping credit growth stable while having its hands free to fine-tune policy when necessary, the regulator said in an online statement on Friday.

• January 11, 2015

European Union meetings in Riga last week were heavy with the historical symbolism EU leaders turn to for relief from economic malaise, terrorism or fears of Russia

• January 11, 2015

It's not so much the risk of conflict with Russia that worries the mayor of the Latvian capital Riga; it's the threat to jobs and investment as EU sanctions on Moscow rebound on the economy of the Baltic state.

• January 9, 2015

The ECB is considering three main options for pumping money into the struggling euro zone economy but two of them could hurt confidence in the bloc's most indebted states, defeating the object of the exercise.

• January 9, 2015