Abu Dhabi / Emirates Business A total of 217 space sector start-ups and entrepreneurs received funding exceeding $2.5 billion throughout 2017, with 14 having been founded in the Middle East, audiences heard at the final day of the Global Aerospace Summit in Abu Dhabi. Of the 217, 121 are based in the US, according to Mark Boggett, Managing Director of ...

Bloomberg Rosneft PJSC plans to start a $2 billion share buyback this year, while also cutting spending and debt. The state-run producer, which pumps more than 40 percent of Russia’s crude, has already signalled a shift towards more efficient “organic” growth, ending years of deal-driven expansion that made it the country’s most indebted company. The latest announcement could boost Rosneft’s ...

Bloomberg OPEC continues to over-deliver on its production cuts, with output falling further last month as the group nears its goal of rebalancing the oil market. The cartel pumped 31.93 million barrels a day, down from a revised 31.97 million in March, a Bloomberg News survey of analysts, oil companies and ship-tracking data found. OPEC and a group of non-OPEC ...

Bloomberg Britain is so cold it’s keeping more of the natural gas it produces and imports for itself. Over the past month, UK gas exports have repeatedly plumbed the lowest levels in at least a decade for this time of the year. Usually, with winter past and heating demand subsiding, Britain would have ample supplies to ship to the continent. ...

Bloomberg Germany is headed for record solar power generation next week as forecasters predicted warm weather for central and eastern Europe and even raised the prospect of heatwaves hitting the southeast region later this month. While Europe’s renewable energy revolution has fundamentally changed how the power market works, it’s probably most notable at this time of year. German prices slumped ...

Bloomberg US equities drifted lower as investors digested earnings reports and shifted focus to the Federal Reserve’s imminent rate decision. The dollar recovered from earlier losses to surge for a third straight session, while Treasuries were little changed. The S&P 500 Index declined in Wednesday trading, with healthcare and financial stocks among the laggards. Tech shares moved higher on the ...

Bloomberg There’s been lots of competition for the title of Asia’s best-performing stock market this year. Among the major equity indexes in the region, eight have climbed to records in the first four months alone. On Wednesday, Singapore’s Straits Times Index nudged higher, boosting this year’s gain to 6.2 percent in local currency terms, and took the top spot from ...

Bloomberg Australia left its key interest rate unchanged at a record low — as expected — amid the slowing of a hiring boom. Reserve Bank Governor Philip Lowe kept the cash rate at 1.5 percent, where it has stood since late 2016, as the central bank waits for inflation to strengthen. The nation’s jobs growth has declined to a three-month ...

Bloomberg Canada’s big banks don’t seem keen to follow Toronto-Dominion Bank’s lead on mortgage hikes — at least not all the way. Posted mortgage rates have diverged in the past week following rate hikes by Toronto-Dominion, Royal Bank of Canada, Canadian Imperial Bank of Commerce and National Bank of Canada. Bank of Nova Scotia and Bank of Montreal have stood ...

Bloomberg Standard Chartered Plc’s Bill Winters is closing in on his return target after three years spent struggling to transform the emerging markets lender, but the bank hasn’t shaken off concerns about costs and growth. The lender posted the highest quarterly revenue of the chief executive’s tenure and warned expenses may escalate this year. Nevertheless, a 7 percent increase in ...