Bloomberg New York’s John F. Kennedy International Airport is no longer ranked among the 20 busiest in the world, thanks to the rush in Asia. Among those pushing out JFK was New Delhi’s Indira Gandhi International Airport that made its debut on the table last year at No. 16, according to Airports Council International rankings released on Monday. The Indian …

Reuters France expects to take a “first significant step” in the development of a new European fighter jet with Germany later this month, Defence Minister Florence Parly said in remarks. Paris and Berlin first unveiled plans to develop the new warplane in July, two months after President Emmanuel Macron’s election win, burying past industrial rivalries to tighten defence and security. …

Bloomberg British retailers suffered their biggest sales decline since 2008 last month as two snowstorms dubbed the “beasts from the east” kept shoppers at home. Comparable sales in midmarket stores dropped 10.1 percent in March, the second-worst month on record, business advisory firm BDO LLP said in its monthly report. Several days of subzero temperatures and extraordinary snowfall disrupted Britain’s …

Bloomberg The Middle East is emerging as a potential beneficiary of the brewing trade war between the US and China as the Asian nation strikes back with retaliatory tariffs on American petrochemical products. If China goes ahead with its proposal to slap a 25 percent tariff on polyethylene and liquid propane, which were among 106 American goods targeted, buyers in …

Bloomberg Donald Trump’s got the stock market on a string, but investors are less sure of the game he’s playing. The Republican president’s renewed ramblings on trade dominated US equity markets this week, with a tweet-induced swoon on April 6 leaving the S&P 500 Index 1.4 percent lower than where it started on Monday. The gauge swung wildly, notching four …

Reuters The Saudi Arabian stock market remained in positive territory on Sunday after rebounding late last week from several days of profit-taking, while a pullback by two blue chips dragged down Abu Dhabi. The Saudi stock index closed up 0.2 percent. Food and beverage company Almarai added 3.5 percent after announcing first-quarter net profit of 344 million riyals ($91.7 million) …

Bloomberg Saudi Basic Industries Corp plans to boost production capacity 70 percent by 2025 as the Middle East’s dominant chemical maker works with new joint-venture partners and expands its footprint in the heart of the US shale boom. Increasing chemical production is crucial to Saudi Arabia’s “Vision 2030” blueprint, which envisions creating higher-value products and jobs, Yousef al Benyan, chief …

LONDON / Reuters Gasoline stored in ships off Europe’s coast has ballooned to more than 400,000 tonnes, putting pressure on the continent’s traders to compete for buyers once summer demand starts. Several vessels have joined the three initially booked to store fuel off Europe’s ports in mid-March, and brokers said even barges have held cargoes of gasoline for three to …

ALGIERS / Reuters Algeria is offering motorists incentives to more than double the number of cars running on natural gas by 2021 in an effort to reduce consumption of costly imported fuel amid strained public finances, officials said. The North African country has been struggling with a halving since 2014 of vital oil and gas revenues, which make up 60 …

ASTANA / Reuters Kazakhstan hopes to settle a profit sharing dispute with global energy companies developing the Karachaganak gas condensate field by June, its deputyenergy minister said, after talks were repeatedly extended. Eni and Shell have the biggest stakes in the Karachaganak project, which they jointly operate. “Negotiations on the Karachaganak project are rather active, we meet almost daily, our …