Bloomberg A tourist boom has caused traffic at Iceland’s Keflavik airport to grow more than five-fold over the past nine years, with a predicted 10 million passengers this year. Now Iceland’s main entry point to the world is preparing to accommodate twice as many. The airport expects to invest about $1 billion over the next 7 to 8 years to …

Bloomberg While President Donald Trump prepares to announce his decision on new solar panel import tariffs, the US industry is quietly trying to broker a sweeping deal to settle a different trade dispute with China involving an estimated $1.5 billion held by Washington. Since 2012, the US has been collecting duties on panels imported from China. American solar companies are …

Bloomberg Saudi Arabian Oil Co. is ready for its initial public offering in the second half, with the government yet to decide where to list the shares, Chief Executive Officer Amin Nasser said. The kingdom will decide where the stock will be traded, not the company, Nasser said at Aramco headquarters in Dhahran, in eastern Saudi Arabia. One option being …

Bloomberg Royal Dutch Shell Plc and BP Plc agreed to annual deals to buy Libyan crude, underscoring how the North African country’s recovering production and improving security are enticing some of the world’s largest oil companies. Shell’s deal with Libya’s National Oil Corp. was the first of its kind since 2013, and Europe’s biggest oil company will load its first …

Bloomberg OPEC and other global oil producers including Russia won’t be discussing how to end output cuts when they meet this weekend in Oman even as crude prices have recently been rising, Kuwait’s oil minister said. Compliance among all countries in the cuts was 125 percent in December, Bakheet Al-Rashidi told reporters in Kuwait City. The rate is preliminary as …

Bloomberg When OPEC and Russia review their strategy for clearing a global oil glut, they’ll face an unusual problem: it could be working just a bit too well. As their output cuts, coupled with robust global demand, tighten the market, crude prices have soared to a three-year high near $70 a barrel. That’s prompted warnings — from Iran’s oil minister …

Reuters Oman’s sovereign wealth fund is planning to start a $1 billion infrastructure fund to boost investment in projects including the Gulf state’s road, transport and energy systems, according to people familiar with the matter. The State General Reserve Fund is talking to international banks and potential investors for the financing, the people said, asking not to be identified because …

Bloomberg Economists brought forward their estimate of when the European Central Bank will set an end-date for its bond-buying program, amid signs that more optimistic views on inflation might be gaining sway among policy makers. While no action is expected at the Governing Council meeting on January 25, almost half of respondents in a Bloomberg survey predicted the ECB will …

Bloomberg Indian bank shares surged the most since November on a report the government is considering allowing foreign investors to own larger stakes in the country’s lenders. The Bankex Index, a gauge for 10 lenders, rose 2 percent to a new record high as of 9:30 a.m. in Mumbai. Gains were led by privately owned Yes Bank Ltd., which is …

Bloomberg The Bank of Canada indicated it’s in no rush to pursue aggressive interest rate hikes, citing “important unknowns” such as the future of Nafta as it raised borrowing costs for the third time since July. At a rate decision, central bank officials led by Governor Stephen Poloz sought to quell expectations Canada’s economic boom could prompt them to move …