Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports.
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OPEC is likely to keep its output target unchanged when it meets on Friday because the global oil market appears to be in good shape and prices are expected to firm up from current levels, a senior Gulf OPEC delegate told Reuters.
Greece will not present a list of economic reforms to euro zone finance ministers on Friday, a senior EU official said, adding the country should be able to stay solvent until June.
Billionaire financier George Soros is ready to invest $1 billion in Ukraine, if Western countries help private investment there. He also put the odds of Greece leaving the euro at a third, in an interview with Austrian newspaper Der Standard.
Greece must cooperate with international creditors and boost confidence among its euro zone partners about economic reforms, Austrian Finance Minister Hans Joerg Schelling said in a radio interview, adding a lack of trust was a major problem.
The surging Swiss franc has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across eastern Europe.
Saudi Arabia's oil minister told fellow OPEC members they must combat the U.S. shale oil boom, arguing against cutting crude output in order to depress prices and undermine the profitability of North American producers.
Saudi Arabia blocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude plunging to a fresh four-year low.
Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.
Analysts expect that interest rates would not remain stable next year due to heated property markets in Sydney and Melbourne and rising unemployment rates.
