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(MENAFN - AFP) European Commission chief Jean-Claude Juncker revealed a huge 315-billion euro investment plan Wednesday to "kickstart" the stalling economy, although critics lamented the lack of any new money.

The eagerly-awaited scheme, the keystone of Juncker's five-year mandate, involves the EU setting up a 21-billion-euro ($26 billion) pot with the aim of drawing in 15 ...

 
(MENAFN - AFP) OPEC ministers met Wednesday to try to work out a deal to tackle rising oil supplies that are weighing heavily on crude prices and the cartel's revenues.

"All the experts in the markets believe that we have an oversupply on the market and next year we will have more oversupply," Iran's Oil Minister Bijan Namdar Zanganeh said, ahead of a pivotal OPEC policy ...

 
(MENAFN - AFP) Doctor Nadim Uddin Siddiqui fixes his gaze on a camera in the shiny new studios of Health TV in Karachi, Pakistan's economic hub, and prepares to take the day's first question.

"My husband doesn't want to make love anymore, what should I do doctor" the housewife asks over the phone.

In strait-laced Muslim Pakistan, a new TV show is trying to deal with ...

 
(MENAFN - AFP) The percentage of Americans who are smokers has fallen to an all-time low, now representing just 17.8 percent of the population, a study has found.

US health officials said the percentage of Americans who are smokers has fallen to the lowest level since 1965, when they began keeping records.

The Centers for Disease Control and Prevention (CDC) said the ...

 
(MENAFN - AFP) Health campaigners Wednesday welcomed India's unprecedented plans to raise the age for tobacco purchases to 25 and ban unpackaged cigarette sales, calling them a major step towards stopping nearly one million tobacco-related deaths a year.

India, with a population of 1.2 billion, would have the world's highest minimum legal age for buying cigarettes if plans ...

 
(MENAFN - AFP) New EU Commission chief Jean-Claude Juncker unveiled Wednesday an eagerly awaited 315-billion-euro investment plan to "kickstart" the economy, saying it would show the world that Europe was back in business after years of crisis.

Juncker said the proposal, which must be approved by European leaders at a summit in December, would mix an investment fund with ...

 
(MENAFN - AFP) OPEC needs non-cartel members to help address an oil supply glut that is set to grow next year, Iran's oil minister said here Wednesday.

"All the experts in the markets believe that we have an oversupply on the market and next year we will have more oversupply," Iran's Oil Minister Bijan Namdar Zanganeh told reporters.

But Zanganeh said it was not solely ...

 
(MENAFN - AFP) Russia's state-held Alrosa, the world's top diamond producer, said Wednesday its profits fell 44 percent year-on-year in the first nine months of 2014 due to the plunging value of the ruble.

Net profit from the first nine months of 2014 fell 44 percent to 12.8 billion rubles ($277 million), Alrosa said in a statement.

The group, which extracts diamonds ...

 
(MENAFN - AFP) US new home sales rose modestly in October, with inventories on the market continuing to creep higher as the housing market recovery lags, government data released Wednesday showed.

Sales of new single-family homes rose 0.7 percent from September to an annual rate of 458,000, the highest pace of the year, the Commerce Department reported.

But that modest ...

26 Nov 2014   US consumer spending picks up 
 
(MENAFN - AFP) US consumer spending rose slightly in October after stalling in September, while personal income growth remained marginal, the Commerce Department reported Wednesday.

Consumer spending, driving about two-thirds of US economic output, rose 0.2 percent, matching analysts' consensus estimate.

In September, spending was flat, the department said, revising ...

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