Lavish freebies from Saudi king to buoy economy, markets
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.
Germany, ECB play hard ball with Greece
German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek banks if Athens does not agree to renew its bailout package.
China plans to set 2015 growth target at 'around 7 percent' - sources
China plans to cut its growth target to around 7 percent in 2015, its lowest goal in 11 years, sources said, as policymakers try to manage slowing growth, job creation and pursuing reforms intended to make the economy more driven by market forces.
Shell signs $11 billion deal to build petrochemicals plant in Iraq
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.
EU draft would extend Russia sanctions over Ukraine escalation
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.
EU leaders likely to decide on new Russia sanctions
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.
Euro zone ready to work with Syriza, says Greece's problems remain
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.
S&P downgrades Russia's sovereign credit rating to 'junk'
Ratings agency S&P cut Russia's sovereign credit rating to junk status on Monday, bringing it below investment grade for the first time in a decade.
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