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(MENAFN - AFP) Russian oil major Rosneft, hit by US sanctions over Moscow's role in the Ukraine crisis, said Monday it had to abandon plans to purchase the oil trading business of US bank Morgan Stanley after failing to win regulatory approval.

The December 2013 deal for an undisclosed amount covered Morgan Stanley's Global Oil Merchanting business that included agreements ...

(MENAFN - AFP) Wall Street stocks opened mostly higher Monday, following European markets upward ahead of a heavy day of economic data releases Tuesday.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,879.42, up 74.62 points (0.42 percent) to 17,879.42.

The broad-based S&P 500 added 1.40 (0.07 percent) at 2,072.05, while the tech-rich Nasdaq ...

(MENAFN - AFP) Britain's accounting watchdog on Monday launched a probe into Tesco's accounts after the troubled supermarket giant admitted overstating its profits earlier this year.

The Financial Reporting Council (FRC) said in a brief statement that it will investigate the financial figures for the last three years reported by Britain's biggest retailer and audited and ...

(MENAFN - AFP) Brazilian President Dilma Rousseff said Monday that she would fire top executives at state-owned oil giant Petrobras but keep the scandal-plagued firm's chief, Graca Foster.

"Graca is an ethical person. She told me that if this whole situation damaged the government or Petrobras, she would leave her post no problem. I told her that wasn't necessary," said Rousseff ...

(MENAFN - AFP) Airbus delivered its first next-generation A350-900 plane to Qatar Airways Monday in a formal ceremony that kickstarts its bid to erode rival Boeing's dominance in the lucrative long-haul market.

The Doha-based company, owned by the energy-rich Gulf state, has ordered 80 of the planes, making it not only the launch customer but also the largest single customer ...

(MENAFN - AFP) Russia announced plans Monday to limit grain exports in a bid to stem a spike in prices at home set off by the collapse of the ruble that threatens to hit the politically-sensitive cost of bread during the holidays.

The government said the customs barrier on exports was to ensure its own food security as the currency crisis bites.

The announcement drove ...

(MENAFN - AFP) Europe's main stock markets rose strongly on Monday in a renewed "Santa Claus rally" powered by a modest recovery in oil prices, dealers said.

In late morning deals in the British capital, London's FTSE 100 index of leading shares jumped 1.02 percent to 6,611.96 points compared with Friday's close.

Frankfurt's DAX 30 won 0.67 percent to 9,852.58 points ...

(MENAFN - AFP) India's newest airline announced Monday it would start flying next month and was "enthusiastic" about the future, even as rival carriers bleed red ink.

The new airline, called Vistara -- a Sanskrit word meaning "limitless expanse" -- will make its first flight on January 9.

The airline is 49-percent-owned by Singapore Airlines, one of the world's top-rated ...

(MENAFN - AFP) The construction of Nicaragua's controversial $50-billion canal linking the Pacific Ocean and the Caribbean begins Monday, with workers breaking ground on the secretive project that is opposed by some farmers and native peoples.

President Daniel Ortega and Chinese-firm HKND are scheduled to inaugurate the canal in a ceremony in the capital Managua.

The ...

(MENAFN - AFP) Russia's central bank said Monday it had placed the troubled Trust Bank under supervision and would bail it out with 30 billion rubles (430 million euros, $525 million) to avoid bankruptcy.

It did not say if the problems of the lender, whose products are advertised by Hollywood actor Bruce Willis, were linked to the fall of the ruble, which has weakened Russia's ...

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