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(MENAFN - AFP) The chief executive of Brazil's state oil giant Petrobras said Wednesday that she will not resign despite the corruption scandal shaking the company and the ruling Workers' Party.

Saying she had President Dilma Rousseff's "trust," CEO Graca Foster said she and her board of directors would all be investigated as part of an independent audit ordered after investigators ...

(MENAFN - AFP) Brazilian scientists have discovered antibiotic-resistant super-bacteria thought to emanate from hospital waste in the latest bad news for the polluted bay that will host sailing events at the 2016 Olympics.

Contact with the bacteria, which was found at three locations in a river feeding Guanabara Bay, could cause infections that require hospitalization, said ...

(MENAFN - AFP) US consumer prices fell 0.3 percent in November, much more than forecast, even as declining oil prices were expected to cause a contraction, Labor Department figures showed Wednesday.

The prices of food and services were higher, but the 3.8 percent fall in energy prices from October more than offset those rises.

Economists had expected a fall of just ...

(MENAFN - AFP) The European Union on Wednesday adopted a budget for next year that contains seed money to launch the new commission's investment plan to revive the bloc's economy.

The European parliament overwhelmingly adopted a budget that it had agreed with the 28 member states and that sets aside 141.2 billion euros ($175.8 billion) in payments.

The budget -- which ...

(MENAFN - AFP) The Camembert made near Moscow might look -- or even smell -- like the famous French fromage, but it's part of a booming knock-off market in Russia as stocks of banned European cheeses disappear.

Mozzarella made in the Russian region of Bryansk and Roquefort from Altai in Siberia are also part of the flourishing trade that has popped up since Russia decreed ...

(MENAFN - AFP) Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil, which provides the bulk of its revenue, the finance minister said Wednesday.

Ibrahim bin Abdulaziz al-Assaf commented after completing the 2015 budget, which will be presented to cabinet "in the near future", the official Saudi Press Agency said.

Financial ...

(MENAFN - AFP) Russia stepped up its defence of the ruble on Wednesday as it sought to halt a run on the currency and stem the worst financial crisis of President Vladimir Putin's 15 years in power.

The intervention comes as Washington prepared to pile further sanctions on Russia over its support for the separatist insurgency in Ukraine, which have combined with falling oil ...

(MENAFN - AFP) Russians are feeling the pinch from the slumping ruble, but one somewhat paradoxical result has been a spending spree as consumers snap up electronics, furniture and cars before prices soar.

In general, Russians' spending power has gone down with the ruble -- which this week hit a record low against the dollar and has lost more than half of its value against ...

(MENAFN - AFP) With the price of gasoline at its lowest level in half a decade and the US economy more robust, carmakers are bullish about prospects for the American market in 2015.

November car sales hit their best level in more than a decade, helped by the "Black Friday" marketing push on the Thanksgiving Day weekend and the potential for gasoline prices to continue to ...

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