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(MENAFN - AFP) Oil prices turned lower on Monday after gains last week, but losses were limited as fighting in Yemen fuelled fears about a supply disruption in the Middle East, analysts said.

US benchmark West Texas Intermediate fell 33 cents to $56.82 a barrel compared with Friday's close as light profit-taking set in.

Brent North Sea crude declined 35 cents to stand ...

(MENAFN - AFP) Spain's economic recovery is being threatened by political instability and the crisis in debt-plagued Greece, Prime Minister Mariano Rajoy said Monday.

"At the moment, I see as enemies of Spain's recovery the political instability -- it's a possible enemy of the recovery -- and then Greece," Rajoy told a press conference in Madrid.

Rajoy, whose conservatives ...

(MENAFN - AFP) Swerving around potholes and speeding through chaotic traffic makes skateboarding the crowded streets of Ethiopia's capital a risky game.

Yet growing numbers of fans are taking up this once unknown sport in Addis Ababa and attracting the support of skateboarders worldwide.

In the bustling market district of Shiro Meda, gangs of children rattle down the ...

(MENAFN - AFP) Syrian rock bands fleeing war are finding safety and new fans in neighbouring Lebanon, where they are revitalising a Westernised scene with their focus on Arabic musical heritage.

Dozens of Syrian bands and independent artists have now become mainstays of the Beirut music scene, performing emotive and often bleak songs in front of concert-goers eager for fresh ...

(MENAFN - AFP) Japanese chip giant Tokyo Electron and US rival Applied Materials said Monday they have agreed to cancel a merger after competition regulators rejected the multi-billion dollar deal.

The announcement comes several days after Comcast and Time Warner Cable said they had scrapped their mega-merger plans, due to opposition by the US Department of Justice to the ...

(MENAFN - AFP) French IT services and consulting company Capgemini said Monday it was buying New Jersey-based IGATE for $4 billion (3.7 billion euros), boosting its US-generated business to 30 percent of its total activity.

"IGATE is a leading company that perfectly fits our strategic ambition. It will give us a new status on the American market, and take further our industrialisation ...

(MENAFN - AFP) Shanghai led several Asian stock markets higher Monday as traders bet on fresh economy-boosting measures in China, while another record-breaking close on Wall Street also supported regional markets.

The euro held up despite nervousness as Greece tries to hammer out a bailout reform deal with creditors that will unlock much-needed cash to service its debts.

Shanghai ...

(MENAFN - AFP) The Federal Reserve dropped its reference to staying patient before raising interest rates in its policy statement in March.

But signs are, that could be its stance on Wednesday, when it concludes a new two-day monetary policy meeting amid a US growth slowdown and a potential financial eruption from the Greek crisis.

The Federal Open Market Committee, ...

(MENAFN - AFP) Serbia signed a $3-billion (2.7-billion euro) deal Sunday with an Abu Dhabi-based developer to transform a popular area of Belgrade into an upscale housing and shopping complex, a project opponents have labelled "a scam".

The project with developer Eagle Hills, dubbed Belgrade Waterfront, is to turn arts and nightlife district Savamala near the city centre ...

(MENAFN - AFP) Many US companies drag on complying with a law against financing armed movements active in eastern Democratic Republic of Congo through the purchase of "conflict minerals," according to a new study.

"Our analysis shows that most companies seem to prefer business-as-usual to genuinely addressing the risk that their mineral purchases bankroll armed groups overseas," ...

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