Any day now, India’s government is set to announce an official inflation target for the first time — a major step in the modernization of its economic institutions, particularly the central bank. The idea has been proposed and debated for years, including in a much-discussed 2008 report written for a previous Indian administration by Raghuram Rajan, now governor of ...

  The U.S. general election officially begins on Labor Day, but the dynamics for this volatile race will be established in August. Or: With a polarized electorate, many of the parameters of the contest are already baked into the cake, so little will change over the next five weeks. Both predictions can’t be true, yet political operatives in both parties ...

  Noah Smith Xavier Gabaix, a New York University economist who gets far less attention than he should, has written what might prove to be the most interesting macroeconomic theory paper in years. The title, “A Behavioral New Keynesian Model,” isn’t exactly exciting and the paper is still incomplete, but it might help resolve the most important and difficult macroeconomic ...

  WAM Projected value of the national development projects for 2017-2018 amounts to KD 4.7 billion, KD 1.5 billion of which covered by the State budget, said Dr. Khaled Al-Mahdi, General Secretary of the Supreme Planning and Development Council. Private sector’s contributions to funding the ventures, this year, are estimated at 16.9 percent, in addition to 33.8 percent by the ...

  TRIPOLI / Reuters Libya’s state oil company said it welcomed the “unconditional” reopening of blockaded oil ports following a deal between the U.N.-backed government and an armed force which controls key facilities, saying it would begin work to restart exports from the terminals. The agreement, signed on Thursday, could be a major step in reviving Libya’s crippled oil output. ...

  Bloomberg Qatar Airways Ltd. raised its stake in British Airways owner IAG SA to 20 percent, taking advantage of a drop in the company’s stock price since the Brexit vote last month. Qatar Airways, which increased the holding from 15.7 percent as of July 28, doesn’t plan to add to the stake, the company said Monday in a statement. ...

  Reuters Iran’s Oil Minister said on Monday the oil market was oversupplied but predicted balance between demand and supply will be restored, Iranian state television reported on Monday. “The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market,” Bijan Namdar Zanganeh was quoted as saying by Iran’s ...

  Bloomberg Egypt, the world’s largest wheat importer, will take another look at the risks of the ergot fungus, less than a month after the government said it would accept it in purchases of grain from overseas. The Agriculture Ministry formed a committee to assess if the fungus in imported wheat poses a threat to the local crop, Minister Essam ...

  Bloomberg Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signaling Saudi Arabia has no plans to back down while OPEC rival Iran tries to regain market share amid a global oversupply. State-owned Saudi Arabian Oil Co. said Sunday it will sell cargoes of ...

  Bloomberg Iran is expected to approve a new model for oil contracts on Wednesday, paving the way for billions of dollars of foreign investment to help rebuild its energy industry. “We are awaiting government approval due to be out on Wednesday,” Oil Minister Bijan Namdar Zanganeh said at an energy conference in Tehran on Monday. “Our priorities will be ...