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(MENAFN - AFP) Deep recession, skyrocketing prices and a fragile banking system: although the ruble seems to have stabilised after its abysmal drop this past week, Russia still faces the heavy consequences of the turbulence.

For most Russians, the week ended with relief: after trading at unbelievable levels of 80 to the dollar and 100 to the euro, the ruble appears to have ...

 
(MENAFN - AFP) "Irresponsible" levels of output by producers from outside the OPEC oil cartel is among the main causes of the slump in prices, the United Arab Emirates energy minister charged Sunday.

"One of the main causes is irresponsible production by some producers from outside the organisation, some of whom are newcomers," Suhail al-Mazrouei told an energy forum in ...

 
(MENAFN - AFP) Michelin-star food and vintage champagne: airlines are pulling out all the stops to cater to their top-tier passengers' tastes, as they seek a larger slice of the highly profitable market.

"Business class has become the main battleground for all companies because the market in this very profitable sector is highly competitive and the clients very demanding," ...

 
(MENAFN - AFP) Considered taboo in many parts of the world, eating horsemeat remains sufficiently widespread in Italy for the country to have to import live animals destined for the slaughterhouse.

And contrary to popular perception, not all are tired old specimens on their last legs, according to a horse-loving couple based in the country village of Vigone near Turin in ...

 
(MENAFN - AFP) Property billionaire Wang Jianlin rose from a local government bureaucrat to China's richest man by transforming a debt-laden state-owned housebuilder into the sprawling Wanda Group, and the flotation of one of its subsidiaries this week will propel him back up the table of fortune.

Wang has penchants for karaoke and collecting. He's got an impressive collection ...

 
(MENAFN - AFP) Wall Street in 2014 enjoyed its best year for initial public offerings since 2000, thanks to the record-setting flotation of Chinese Internet giant Alibaba and a barrage of biotech deals.

Activity was "uninterrupted" and proved largely immune to forces that at times rattled equity markets, Renaissance Capital said in a report this week.

"While various ...

 
(MENAFN - AFP) One of four heavily damaged reactor buildings at Japan's tsunami-battered Fukushima nuclear power plant has been cleared of radioactive fuel rods, the operator said Saturday.

It was a significant step in the decommissioning efforts, but workers still have three heavily crippled reactors to clean up after they were sent into meltdown in the 2011 quake-tsunami ...

 
(MENAFN - AFP) A strike by sales staff at Paris' Eiffel Tower closed souvenir stores at the iconic monument for the second day running Saturday.

A trade union spokesman said staff were demanding a 300-euro ($367) monthly raise at talks with management.

The CGT union's Remi Picaud threatened to widen the strike to security and restaurant staff working at the iconic monument ...

 
(MENAFN - AFP) The Franciscan Order founded by Saint Francis of Assisi, who advocated a life of poverty, is in deep financial trouble following the discovery of massive fraud and is appealing for help.

Italy's Panorama magazine said the 800-year-old order had invested tens of millions of euros in suspect firms currently under investigation in Switzerland for dodgy practices.

The ...

 
(MENAFN - AFP) Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

He also hit back at President Barack Obama's claim that it had made a "mistake" in pulling the movie, three and a half weeks after a massive cyber-attack blamed on North Korea ...

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