27 November 2014 18:13
OPEC is set to hold a decisive meeting in Vienna, with the intergovernmental body’s member states under pressure to address the alarming and incessant plunge in crude prices.
The falling prices, which have dipped 30 percent since June, are expected to lie at the heart of the debate at the 166th ministerial meeting of the 12-nation Organization of the Petroleum Exporting...
26 November 2014 18:20
Iran has called on countries which are non-members of the Organization of the Petroleum Exporting Countries (OPEC) to participate in cutting oil output.
Oil Minister Bijan Namdar Zanganeh told reporters on Wednesday that it was not only up to the organization to deal with growing market oversupplies, saying non-OPEC producers needed to cooperate as well in limiting oil production.
24 November 2014 17:35
A new report indicates that more than a third of British households have "no strategy in place to cope with financial hardship."
The report by Legal and General, citing data from the Centre for Economics and Business Research (CEBR) says 35% of the population have no backup savings to protect them in the event of a financial emergency.
21 November 2014 8:53
A new study shows the world’s ultra-rich people are getting richer, pointing out that most of the wealthy are among the adult population.
The findings of the study by the Union Bank of Switzerland and luxury industry consultant Wealth-X indicate that a total number of 211,275 million people qualify as "ultra-high net worth" (UHNW) in the world, AFP reported.
The UHNW are...
18 November 2014 23:18
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18 November 2014 23:01
The richest Americans hold more of the nation's wealth than they have in almost a century. What do they spend it on? As you might expect, personal jets, giant yachts, works of art, and luxury penthouses.
And also on politics. In fact, their political spending has been growing faster than their spending on anything else. It's been growing even faster than...
16 November 2014 23:28
Iran has opened a new gold processing plant, reportedly the biggest in the Middle East, hoping to double its production of precious metals. Using a unique technology, Tehran says it will now mine up to three tons of gold per year.
The new facility is located near one of the country's richest mines, Zareh Shuran. It is located 35 kilometers from...
16 November 2014 23:12
The Organization of the Petroleum Exporting Countries (OPEC) will maintain its current oil production ceiling of 30 million barrels per day (bpd), a former chief adviser to Saudi Arabia's Petroleum Ministry says.
Mohammed Suroor al-Sabban told businessmen in the Saudi city of Jeddah late Saturday that he expected OPEC members to keep the current output level in the upcoming 166th OPEC...
15 November 2014 17:53
Iranian Oil Minister Bijan Namdar Zanganeh underlined that the members of the Organization of Petroleum Exporting Countries (OPEC) are determined to reverse the trend of the falling market prices.
"It is important that the OPEC members are feeling the necessity for strengthening cooperation to restructure the current situation in the market and it is OPEC's responsibility to adopt proper action...
15 November 2014 17:28
Any economic recovery has benefitted the wealthy, not the poor, and propaganda has served to increase the gap between rich and poor, an economist tells Press TV.
“We keep talking about a recovery, which has really benefited the wealthy that own the assets; that have had the stock markets in the US and in Europe propped up by a lot of...
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