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Obama: Austerity Alone Cannot Deliver Prosperity

U.S. President Barack Obama on Tuesday said he would press upon European allies his view that austerity alone "cannot deliver prosperity."

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Israel Invites Bids for New Round of Gas Exploration

Israel formally invited bids for 24 new oil-and-gas exploration licences off its Mediterranean coast on Tuesday, the first in four years.

"We are offering for exploration half of our economic waters in 24 blocks," Energy Minister Yuval Steinitz said, announcing the offer which closes on April 21.

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Trump Plan to Boost Oil, Coal Could Send Prices Lower

President-elect Donald Trump has pledged to boost the oil and gas sector and bring back coal, reversing President Barack Obama's efforts to encourage renewable energy and cut dependence on fossil fuels.

But analysts say Trump's policies could serve to worsen the global energy glut, which would reduce prices while doing little to revive the fortunes of "Big Coal."

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Kazakhstan President to Feature on Banknotes

Veteran Kazakh President Nursultan Nazarbayev is set to feature on new banknotes in the Central Asian country, the national bank said Tuesday, in another testimony to his personality cult. 

New 10,000-tenge ($30) banknotes that feature the portrait of the 76-year-old leader will be put into circulation on December 1, in time for a holiday celebrating his leadership. 

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Bank of Cyprus Says Ready for London Listing

Bank of Cyprus, the east Mediterranean island's largest lender, said on Tuesday it would apply for a listing on the London Stock Exchange as part of its restructuring drive.

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German Growth Slower than Expected in Third Quarter

Germany's economy grew slower than expected in the third quarter due to falling exports, official data said Tuesday.

Gross domestic product grew by 0.2 percent compared with the second quarter, adjusting for price, seasonal and calendar effects, the federal statistics office Destatis said in provisional figures.

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Thailand Bullish on Tourism after Muted Month for King's Death

Tourist arrivals to Thailand have not been hit by a strict mourning period for late King Bhumibol Adulyadej, authorities said Monday, as curbs on entertainment and celebration imposed since his death one month ago were eased.

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Saudi 'Comfortable' with Level of Foreign Reserves

Saudi Arabia has a "very comfortable" level of foreign reserves, the central bank chairman said Monday, despite a drawdown in assets to help cover a fall in oil revenues.

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Samsung to Buy US Auto Parts Supplier Harman for $8 bn

Samsung Electronics said Monday it would buy US auto parts maker Harman International Industries for $8 billion in a bid to enter the growing market for automotive technology to produce "connected" cars.  

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Dubai, Saudi to Launch $1-Billion e-Commerce Site

Dubai business magnate Mohamed Alabbar announced Sunday the launch of a $1-billion regional e-commerce site in a joint venture with the Saudi sovereign wealth fund and other Gulf investors.

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