Saudi Arabia's finance minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil wealth, rebuffing suggestions by prominent officials and businessmen.
Regions
Toshiba CEO says will consider overseas locations for chip plant
Toshiba Corp will decide during the next business year from April on where to build an additional memory chip plant and will consider overseas locations for the facility, Chief Executive Hisao Tanaka said on Friday.
Buffett-backed BYD's chairman increases stake, may buy more
BYD Co Ltd 002594.SZ(1211.HK), the Chinese carmaker backed by Warren Buffett, said on Wednesday its chairman has increased his stake in the company and may buy more shares as a sign of confidence following the stock's record slump last week.
Oil edges above $60 as Libyan output slumps
Oil edged above $60 a barrel on Friday as unrest in Libya cut supplies, offsetting a growing supply glut in top consumer the United States and weak imports by Japan.
'Star Trek 3' film to open in U.S. theaters in July 2016
"Star Trek 3," the latest film in the intergalactic franchise featuring Captain Kirk and the crew of the USS Enterprise, will open in U.S. theaters on July 8, 2016, Paramount Pictures said on Tuesday.
Latest News
Russia's ruble rose on Friday to its strongest levels in more than three weeks, in a sharp rebound from its recent all-time lows, after the government ordered exporters to sell some of their hard currency revenues.
Hyundai Motor and affiliate Kia Motors promoted younger executives on Friday, in moves analysts said would help smoothen an eventual leadership succession at the family-owned conglomerate.
"The Interview," the Sony Pictures film about a fictional plot to assassinate North Korean leader Kim Jong Un, opened in more than 300 movie theaters across the United States on Christmas Day, drawing many sell-out audiences and statements by patrons that they were championing freedom of expression.
The dollar edged up against the yen on Friday in light bargain-hunting following two sessions of losses, with some markets slowly getting into gear after the Christmas holiday.
Brent crude futures held above $60 a barrel on Friday as strong U.S. economic data supported the market, but oil prices were track for their fifth straight weekly decline as a building supply glut capped gains.
Microsoft Corp's Xbox Live and Sony Corp's PlayStation Networks experienced user connection problems on Christmas Day, for which a hacker group claimed responsibility.
Patent risk management company RPX Corp said on Tuesday it would buy patents owned by Apple Inc and other firms for $900 million, helping to further scale back lawsuits over smartphone technology.
Germany's HeidelbergCement AG (HEIG.DE) is negotiating to sell Hanson Building Products Ltd, a maker of concrete and clay building products, to private equity firm Lone Star Funds, according to people familiar with the matter.
Bosnian lender Bobar Banka has been shut after its shareholders failed to come up with a recovery plan, the regional banking agency said, leaving its clients, including major state firms, at risk of losing some of their 250 million Bosnian marka ($156 million) in deposits.
