Reuters A $16.5 billion mass transit project planned for Saudi Arabia’s holy city of Mecca has been delayed so that its financing can be restructured, the head of the implementing body said. The kingdom has been slowing infrastructure projects and paring back state spending as it grapples with the economic fall-out of two years of depressed oil prices, which ...

  Brussels / AFP Eurozone ministers reached a vital deal with Greece on Wednesday to unlock bailout cash and start tackling the country’s debt mountain as demanded by the IMF, but analysts warned details are sketchy, spelling trouble further down the road. The agreement unlocks €10.3 billion ($12 billion) in bailout cash that Greece urgently needs to repay big loans to ...

  London / AFP Energy giant Royal Dutch Shell on Wednesday said it was cutting at least another 2,200 jobs owing to low oil prices and following its takeover of smaller rival BG Group. “Shell staff have today been informed about the progress being made on integrating BG into the company, and on further measures that are necessary to ensure ...