LIBYA

The embattled Congress-led coalition government failed to announce major policy decisions on Thursday to tackle soaring food prices after days of wrangling, taking only minor measures seen as unlikely to make a major impact.

China dumped plans to import several million tonnes of expensive corn and South Korea unveiled cuts in import tariffs on some products, underscoring the dilemma over how to tackle rising food prices.

Oil prices at $100 a barrel would not harm the world economy and there is no need for OPEC to hold an emergency meeting or add supplies, Libya's top oil official said on Thursday.

Libya has abolished taxes and custom duties on locally-produced and imported food products in response to a global surge in food prices, Oea online newspaper reported.

A sum up of top events that shaped United States in past decade (2000-2010). Part 2 covers 2004 to 2008 on weapons of mass destruction, Iraq, Bush second term, Hurricane Katrina, Housing bubble burst, and Barack Obama as the first Black president.

The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister said on Saturday, as other exporters indicated global production was unlikely to rise in 2011 because the market was well supplied.

Oil hovered around its highest levels in more than two years on Friday, supported by cold weather across the globe, appetite for risk assets and no signals from OPEC it was prepared to arrest the rally.

Oil hovered around its highest levels in more than two years on Friday, supported by cold weather across the globe, appetite for risk assets and no signals from OPEC it was prepared to arrest the rally.

Arab OPEC ministers began arriving in Cairo on Thursday ahead of talks expected to broach how high an oil price the world economy can stand as crude jumped to a more than two-year high above $91 a barrel.

Leading OPEC producer Saudi Arabia said on Saturday it still favored a $70-$80 price range for oil, a restatement of a two-year-old policy that will be welcomed by consumer nations worried that rising oil prices may get out of control and hamper global economic recovery.

OPEC agreed to maintain current oil production levels at its meeting on Saturday while Saudi Arabia reiterated that $70-$80 a barrel was its favored price for crude.

Saudi Arabia said on Saturday that it still favored a $70-$80 range for oil, a restatement of a two-year-old policy that will relieve consumer nations worried that Riyadh might let oil prices get out of control and slow global economic recovery.

Saudi Arabia said on Saturday that it still favored a $70-$80 range for oil, a restatement of a two-year-old policy that will relieve consumer nations worried that Riyadh might let oil prices get out of control and slow global economic recovery.

Crude production from the Organization of the Petroleum Exporting Countries (OPEC) dropped in November by around 70,000 barrels per day (bpd) to 29.1 million bpd, a Platts survey of oil industry officials and analysts showed on Monday.

North Korean leader Kim Jong-il is not alone when it comes to avoiding flying. He's got a friend in Moammar Qadafi of Libya, whose staff avoid long distance travel by air over water.

Some of the names making rounds in Wikileaks' revelations are former South African president Nelson Mandela, Afghanistan's Hamid Karzai and Libya's Colonel Gaddafi and former UK premier Gordon Brown.

Libyan leader Muammar Gaddafi's invitation to hundreds of young women to convert to Islam overshadowed a two-day visit to Italy intended to cement the growing ties between Tripoli and Rome.

Italian Prime Minister Silvio Berlusconi met Muammar Gaddafi on Monday looking to reinforce business ties, after the Libyan leader aroused a media storm by suggesting to a group of young women they convert to Islam.

Libyan leader Muammar Gaddafi's attempt to convert dozens of young women to Islam during a visit to Italy led to an angry reaction from Italian media Monday.

Libyan leader Muammar Gaddafi arrived in Rome on Sunday for a two-day visit that has aroused a mixture of curiosity and controversy over Tripoli's growing influence in the Italian economy.

Libyan leader Muammar Gaddafi arrived in Rome on Sunday for a two-day visit that has aroused a mixture of curiosity and controversy over Tripoli's growing influence in the Italian economy.