Business

LISBON, Portugal (AP) — While some powerful European Union governments are uneasy about China possibly taking more control of the bloc’s critical energy and transport infrastructure, one of western Europe’s smallest economies is grabbing the opportunity with both hands.

4 Nov 2018; AL: A rally in oil prices after a two-month slide indicates traders are betting that OPEC and its allies including Russia will agree to produce less crude.

Representatives of oil-producing nations will hold a highly anticipated meeting Thursday in Vienna, with analysts predicting that they will agree on a cut of at least 1 million barrels a day in an effort to bolster prices.

PARIS (AP) — The French government’s decision to suspend fuel tax and utility price hikes Tuesday did little to appease protesters, who called the move a “first step” and vowed to fight on after large-scale rioting in Paris last weekend.

In a major U-turn for the government, Prime Minister Edouard Philippe announced in a live televised address that the planned increases set for January would be postponed until summer.

3 Dec 2018; DW: At least 75 gas stations have run out of fuel due to blockades at major depots, French energy giant Total said. The situation is likely to get worse if protests don't stop soon, according to officials.

French gas giant Total on Monday said "yellow vest" protesters continue to block 11 major fuel depots, resulting in 75 gas stations running out of fuel.

3 Dec 2018; AFP: Oil prices soared on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that many feared could hit demand for the commodity.

Russian President Vladimir Putin said Saturday he and Crown Prince Mohammed bin Salman "have agreed to extend our agreement" to limit production as prices slump on global markets.

An existing deal committing OPEC and non-members to cuts expires this year.

3 Dec 2018; AFP: US President Donald Trump on Monday proposed talks with the leaders of China and Russia aimed at halting what he described as an "uncontrollable" arms race.

Trump's comment follows an October announcement in which he said he would withdraw from the Intermediate-Range Nuclear Forces Treaty (INF), a Cold War deal with Russia to cut missile numbers.

GENEVA (AP) — A U.N. agency says China has issued the most international patent applications for an eighth straight year, showing the country’s heft in intellectual property amid U.S. President Donald Trump’s accusation that the growing Asia power steals it.

The World Intellectual Property Organization said Monday that innovators around the world filed a record 3.17 million patents last year, an annual increase of nearly 6 percent.

PARIS (AP) — French paramedics joined ongoing anti-government protests as the prime minister met with political rivals Monday in a bid to ease anger following violent riots that rocked Paris.

Dozens of ambulances blocked a bridge leading to the National Assembly and lines of riot police officers stood in the rain to prevent them from getting too close to the building. Paramedics are complaining about changes to working conditions.

DUBAI, United Arab Emirates (AP) — The tiny, energy-rich Arab nation of Qatar announced on Monday it will withdraw from OPEC in January, mixing its aspirations to increase production outside of the cartel’s constraints with the politics of slighting the Saudi-dominated group amid the kingdom’s boycott of Doha.

The surprise announcement from Qatar’s minister of state for energy affairs, Saad Sherida al-Kaabi, again throws into question the role of the cartel after needing non-members to push through a production cut in 2016 after prices crashed below $30 a barrel.

Buenos Aires, Dec 2 (PTI) For the first time, India will host the annual G-20 summit in 2022, coinciding with the country's 75th anniversary of Independence.

Prime Minister Narendra Modi made the announcement at the closing ceremony of the 13th G-20 summit here in the Argentinian capital on Saturday.

He thanked Italy for allowing India to play the host. Italy was to host the international forum of the world's top 20 economies in 2022. The 14th edition will be held in Japan while Saudi Arabia will host the 15th.