Bloomberg Crude extended gains from the highest close in two weeks as speculation mounted over potential output disruptions in a region that’s home to Iraq’s oldest producing oil fields. Futures in London rose as much as 1.7% after adding 2.8% last week. Iraqi soldiers seized facilities including a refinery after mobilizing to take fields near the northern city of Kirkuk ...

Bloomberg Saudi Arabia may cut energy subsidies more gradually and take longer to balance its budget, Finance Minister Mohammed Al-Jadaan said, as the kingdom seeks to soften the impact of its drive to repair public finances. The prices of some subsidized domestic energy products will rise to international levels later than previously envisaged, Al-Jadaan said in an interview in Washington. ...

Bloomberg It’s been a bad year for oil explorers in Norway’s Arctic: a record campaign in the Barents Sea yielded little; the most exciting well in years proved to be a flop; and Norwegians grew increasingly skeptical about the industry that made them rich. But companies led by Norway’s state-controlled Statoil ASA and Sweden’s Lundin Petroleum AB aren’t about to ...

SEOUL / Reuters South Korea’s SK Energy has bought 6.5 million barrels of US crude to be delivered between November and January, a company spokeswoman said on Monday, as the country’s top oil refiner steps up imports of the competitively priced oil. The ramp-up in imports comes as US crude oil prices have dropped against Brent and Dubai , the ...

Bloomberg Indonesia is on track to become a trillion-dollar economy and should be the envy of Southeast Asia. Yet on some key measures, the region’s biggest economy is falling behind. The nation lags neighbours on infrastructure development, faces a fiscal shortfall that’s heaping pressure on the state budget and still has 28 million people living in poverty. That’s even after ...

Bloomberg Li Ka-Shing’s CK Asset Holdings Ltd. sold its 75 percent holding in The Center to a Chinese-led group for $5.15 billion, a record for a Hong Kong office tower, the Hong Kong Economic Journal reported. The deal will be announced in the near future, the Economic Journal reported, without saying where it got the information. Some domestic investors are ...

Bloomberg A decade after Chinese dairy companies were roiled by a scandal that poisoned thousands of children, investors are seeing the biggest players as safe bets. Inner Mongolia Yili Industrial Group Co. and China Mengniu Dairy Co. have soared to all-time highs as the companies hunt aggressively to build up their milk supply chains through foreign acquisition. Also underpinning the ...

Bloomberg Singapore home sales fell in September as developers marketed fewer projects in a month considered inauspicious by Chinese homebuyers. Developers sold 657 units last month, down from a revised 1,246 in August, according to Urban Redevelopment Authority data released on Monday. That’s the lowest sales since January. A total of 73 new units were offered, down from 794 in ...

Bloomberg Until early this month, Indian jewellers expected the traditional surge in gold demand from the Hindu Festival of Diwali to be muted. The industry was struggling to cope with a slump in sales caused by a government crackdown on the black market, and efforts to increase financial transparency. In August, jewelers were dealt a fresh blow by a decision ...

BAGHDAD / Reuters Iraq’s central government forces launched an advance early on Monday into territory held by Kurds, seizing a swathe of countryside surrounding the oil city of Kirkuk in bold military response to a Kurdish vote last month on independence. The government said its troops had seized Kirkuk airport and had taken control of Northern Iraq’s oil company from ...