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  Tehran / AFP Algeria has proposed that OPEC members cut 1.1 million barrels of daily oil production to boost prices, Iran’s Shana news agency reported on Sunday. Members of the Organization of the Petroleum Exporting Countries are due to meet on Wednesday in Vienna to discuss capping production. At an informal meeting in Algiers in September, the 14 members ...

  TRIPOLI / AFP Libya’s National Oil Corporation (NOC) said on Sunday it would not take part in any OPEC production cuts for the “foreseeable future” as the North African country tries to bring crude output back towards pre-conflict levels. “Libya is in such a dangerous economic situation, there is no way it can participate in OPEC production cuts for ...

  Bloomberg OPEC is embarking on a last-ditch diplomatic push to reach an agreement for an oil production cut, with the oil ministers of Algeria and Venezuela heading to Russia to get the group’s biggest rival on board. The Organization of Petroleum Exporting Countries will meet on Nov. 30 in Vienna to finalize the terms of its first production cut ...

  Bloomberg Electric avenues that can transmit the sun’s energy onto power grids may be coming to a city near you. A subsidiary of Bouygues SA has designed rugged solar panels, capable of withstand the weight of an 18-wheeler truck, that they’re now building into road surfaces. After nearly five years of research and laboratory tests, they’re constructing 100 outdoor ...

  Tunis / AFP Tunisia will host 2,000 business and finance executives from 40 countries this week in hopes of drumming up investment to boost its struggling economy. Six years since the revolution that swept away dictator Zine El Abidine Ben Ali, the country’s fragile democratic progress has been threatened by economic stagnation that has stirred social unrest. As it ...

  AFP Chinese household debt has risen at an “alarming” pace as property values have soared, analysts say, raising the risk that a real estate downturn could send shockwaves through the world’s second largest economy. Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowers. Skyrocketing real estate prices in major Chinese cities in ...

  AFP An International Olympic Committee (IOC) official said on Sunday that detailed options for moving some Tokyo 2020 venues will be presented this week at a key four-party meeting. Tokyo is eyeing ways to save money after warnings that skyrocketing costs could hit an eye-watering $30 billion — four times the initial estimate and almost triple that of the ...

  AFP Prime Minister Narendra Modi’s shock decision to scrap most of India’s curr- ency was hailed by some as a masterstroke against endemic corruption, but signs are emerging that it may hit the economy hard. The sweeping overnight abolition of all high-value notes was supposed to bring billions in so-called “black”, or undeclared, money back into the formal system. ...

  Bloomberg Indian Prime Minister Narendra Modi used a radio address on Sunday to assure the country that the cash crisis caused by his plan to remove large-denomination bills from circulation will ease within his proposed 50-day period. Modi said in the monthly radio address that the difficulties India has encountered since he announced a ban on the use of ...

  Bloomberg Leaders of the campaign for Britain to quit the European Union rejected a plan reportedly being devised by Bank of England Governor Mark Carney to negotiate a “buffer” to allow companies to adjust to the UK leaving the bloc. Former Justice Secretary Michael Gove, who failed in a bid to lead the Conservative Party after David Cameron quit ...