Economy

US grain prices rise in worst drought in 50 years

The worst drought in more than 50 years is hitting the United States hard and has pushed grain prices to new highs as crops wither.

Iran will begin gas exports to Iraq by 2013: Oil minister

Iranian Oil Minister Rostam Qasemi says the Islamic Republic is expected to start exporting natural gas to Iraq by the end of the next Iranian year (to start March 21, 2013)...

Greece picks economist as new finance minister

Greece has appointed prominent economist Yannis Stournaras as its new finance minister, a day after a banker selected to fill the position stepped down on health grounds.

Britain’s public sector borrowing rises

Britain’s public sector net borrowing has increased to £17.9 billion in May from £15.2 billion a year ago while the British government’s austerity measures ...

China, Chile to boost trade by 2015: Chinese premier

Chinese Premier Wen Jiabao has announced that China and Chile plan to increase their bilateral trade to 60 billion US dollars by 2015 in order to strengthen their economic ...

Japan Renews Oil Imports Deal with Iran

Japanese trading house Mitsubishi Corp has renewed its annual oil purchase deal with Iran, trade sources said on Friday.

Japan's Mitsubishi Corp renews oil purchase deal with Iran

Japanese trading house Mitsubishi Corp has renewed its annual oil purchase deal with Iran in defiance of sanctions against the Islamic Republic’s petroleum sector.