Bloomberg Egypt has been facing a shortage of sugar for weeks as a currency crunch and rising global prices curbed imports. Authorities have accused traders of hoarding, and seized stocks from companies including Edita Food Industries — one of Egypt’s largest producers. With inflation at a seven-year high, the sugar crisis is making it harder for the government to ...

  Reuters Oil climbed with OPEC’s secretary-general set to visit Baghdad on Tuesday for talks aimed at resolving a deal on output after Iraq said it should be exempt from planned cuts. Futures rose as much as 0.8 percent in New York after falling 0.7 percent Monday. Mohammed Barkindo will meet with Iraq’s prime minister and oil minister, according to ...

  Singapore / AFP Under current conditions, the IEA expects global output to exceed demand until the second half of 2017, Fatih Birol told journalists on the sidelines of an energy conference in Singapore. “But we know that the producers are thinking of intervening in the markets. The OPEC and non-OPEC producers, if they intervene in the markets, this rebalance ...

  Bloomberg Renewable energy reached an important turning point last year with record new installations of emissions-free power surpassing sources that burn fossil fuel, according the International Energy Agency. New installations of renewable energy overtook conventional power for the first time in 2015, the Paris-based agency said on Tuesday in its Medium-Term Renewable Energy Market Report. Global green power rose ...

  Bloomberg China’s steel juggernaut is picking up speed closer to home. As governments in Europe and the U.S. limited supplies of Chinese metal they said was dumped on the market, the world’s largest producer is expanding exports to its neighbors in Southeast Asia. A third of all Chinese shipments now end up in countries like Vietnam, Thailand and the ...

  Bloomberg South Korea’s economy grew slightly more than forecast in the three months through Sept. 30, supported by a property market boom, while exports and consumption were disappointing. Gross domestic product expanded 0.7 percent in the third quarter from the previous three months, when it gained 0.8 percent; Estimate was for a 0.6 percent increase. The economy expanded 2.7 ...

  Bloomberg Xiaomi Corp., once the biggest smartphone vendor in China, unveiled its most expensive handsets as it seeks to recapture sales with a push into high-end devices. The Mi Note 2, sporting a curved screen similar to Samsung’s Galaxy Edge, sells for as much as 3,499 yuan ($516), co-founder Lei Jun said in Beijing Tuesday. It also showed off ...

  AFP Family patriarch Ratan Tata sought to reassure rattled investors of stability at India’s biggest conglomerate Tuesday after the sudden sacking of chairman Cyrus Mistry sent Tata company shares falling. Seventy-eight-year old Tata has taken interim charge of the sprawling $100 billion tea-to-steel Tata Group, after Mistry was abruptly dumped on Monday evening, four years after being appointed chairman. ...

  Bloomberg The US will capture a higher share of the global wheat market this season as poor weather that’s hurt French and Canadian crops helps the second-largest exporter step up shipments from a 44-year low last season. US wheat exports are forecast to rebound 26 percent in the year that began June 1 to 26.5 million metric tons, according ...

  Bloomberg Germany’s economy is on track for more robust growth. Business confidence rose to the highest level in more than two years in October, the Munich-based Ifo institute said on Tuesday. This adds to signs of renewed growth momentum in Europe’s largest economy, after uncertainty related to the U.K.’s vote to leave the European Union contributed to a temporary ...