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Saudi currency devaluation would carry major political riskA devaluation of Saudi Arabia's currency could cause such political instability that Riyadh has little choice but to stick to its promise to use vast foreign exchange reserves to defend the riyal's 30-year-old peg to the US dollar. More… |
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Opec, oil companies clash at Davos over price collapseThe Organization of the Petroleum Exporting Countries (Opec) defended its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could le More… |
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Bush defends troubled record in farewell speechUS President George W. Bush has defended his actions to avert a collapse of the financial system and protect America from another terrorist attack as he mounted a farewell bid to polish his troubled legacy. Five days before handing over th More… |
